Bagmane Prime Office REIT IPO Achieves 83% Subscription on Day 2
Bagmane Prime Office REIT IPO: Subscribed 83% so far on Day 2; check GMP and key details
The Economic TimesImage: The Economic Times
The Bagmane Prime Office REIT IPO has seen an 83% subscription rate on its second day, with a total issue size of ₹3,405 crore. Institutional investors have subscribed to 77% of their allotted units, while other investors have reached 91%. The IPO is expected to list on the BSE and NSE on May 15.
- 01The IPO is 83% subscribed as of Day 2.
- 02Total issue size is ₹3,405 crore, with ₹2,390 crore from fresh issues.
- 03Institutional investors subscribed to 77% of their quota.
- 04The REIT's portfolio includes six Grade A+ business parks in Bengaluru.
- 05Expected payout yield is around 6.2% in FY27, increasing to 7.5% by FY30.
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The Bagmane Prime Office REIT, focused on commercial office assets in Bengaluru, has achieved an 83% subscription rate on the second day of its IPO, which aims to raise ₹3,405 crore. The issue comprises a fresh issue of ₹2,390 crore and an offer for sale of ₹1,015 crore. Institutional investors have shown strong interest, subscribing to 77% of their allocated units, while other investors have subscribed to 91% of the total units available. The REIT is currently trading at a 4.5% premium in the grey market, indicating a potential listing price of ₹104.5. The REIT's portfolio includes six Grade A+ business parks in key business districts of Bengaluru, with a total area of 20.3 million square feet and a high occupancy rate of 97.9%. Major tenants include global tech leaders such as Google and Amazon, ensuring stable income. The IPO will remain open for subscription until May 7 and is scheduled to list on the BSE and NSE on May 15.
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The successful subscription of the Bagmane Prime Office REIT IPO indicates strong investor confidence in commercial real estate in Bengaluru, potentially leading to more investments in the sector.
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