Mumbai, April 30, 2026: Bengaluru-based Bagmane Prime Office REIT has announced its ₹3,405 crore Initial Public Offering (IPO), which will open for subscription on May 5 and close on May 7, 2026. The price band has been fixed at ₹95 to ₹100 per unit, with a minimum bid of 150 units and in multiples thereafter.
The IPO comprises a fresh issue of ₹2,390 crore and an offer for sale (OFS) of ₹1,015 crore by an affiliate of Blackstone. The proceeds from the fresh issue will be used to partly fund acquisitions of premium commercial assets, including Luxor at Bagmane Capital Tech Park and a 93% stake in Bagmane Rio Business Park.
Ahead of the IPO, the REIT has secured strategic investor commitments worth ₹850 crore from major institutions such as UTI Mutual Fund, Axis Max Life Insurance Limited, and ICICI Pension Fund Management Limited, among others.
The REIT portfolio includes six Grade A+ business parks spread across 20.3 million sq ft, with a strong occupancy level of around 99%. Its tenant base is dominated by global capability centers and multinational companies, accounting for nearly 89% of leased space.
The issue will be managed by leading financial institutions including JM Financial Limited, Axis Capital Limited, and HDFC Bank Limited. The units are proposed to be listed on BSE Limited and National Stock Exchange of India Limited.
With a large asset base and growth pipeline, the REIT aims to strengthen its position in India’s commercial real estate investment market.
