Bagmane Prime Office REIT to Launch Rs 3,405-Crore IPO on May 5, Details Revealed

Bagmane Prime Office REIT to Open Rs 3,405-Crore IPO for Public Subscription on May 5

The Bagmane Realty and Infrastructure-sponsored Bagmane Prime Office REIT is set to open its Rs 3,405-crore initial share sale for public subscription next week on May 5. As per the offer document filed on April 27, 2026, the REIT is raising Rs 2,390 crore by issuing fresh units, while selling unitholders will be offloading units worth up to Rs 1,015 crore via an offer-for-sale.

The IPO size has been reduced from Rs 4,000 crore mentioned in the draft offer document filed in December 2025. The price band for the offer has been fixed at Rs 95-100 per unit, while investors, other than anchor investors and strategic investors, can bid for a minimum of 150 units and in multiples of 150 units thereafter.

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The initial public offering (IPO) will remain open till May 7, while the one-day IPO anchor book will be launched on May 4. The IPO units allotment will be finalised by May 12, and the Bengaluru-based REIT, managed by Bagmane Realty Investment Manager, will be listed on the bourses on May 15, as per the indicative offer timeline.

Post listing, Bagmane Prime Office REIT will be the fifth real estate investment trust in the commercial realty sector available for trading after Embassy Office Parks REIT, Mindspace Business Parks REIT, Brookfield India Real Estate Trust, and Knowledge Realty Trust. Sponsor Bagmane Realty and Infrastructure is the holding entity of the Bagmane Group, one of Bengaluru's largest pureplay Grade A+ office owner and developer, according to the JLL Report.

The proceeds from the fresh issue will be utilised for part funding of acquisition by Bagmane Developers (BDPL) of Luxor at Bagmane Capital Tech Park, and Rs 820 crore for part funding of acquisition by BDPL of 93 percent stake in Bagmane Rio Private Limited (BRPL). The remaining amount will be used for general purposes.

BDPL currently holds four projects - Bagmane Tech Park, Bagmane World Technology Centre (including the hotel assets), Bagmane Constellation Business Park and Bagmane Cosmos Business Park. Additionally, BDPL (along with its nominees) also holds 100% interest in Bagmane Green Power LLP, which holds four solar parks.

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JM Financial, Kotak Mahindra Capital Company, Axis Capital, IIFL Capital Services, SBI Capital Markets, 360 ONE WAM, and HDFC Bank are appointed as merchant bankers for the Bagmane Prime Office REIT IPO.