Bagmane Prime Office REIT IPO

Bagmane Prime Office REIT, backed by Blackstone Inc., launched its Rs 3,405 crore Initial Public Offering (IPO) with a price band of Rs 95-100 per unit. The IPO, which includes a fresh issue of units worth up to Rs 2,390 crore and an Offer For Sale of up to Rs 1,015 crore, aims to acquire significant office assets in Bengaluru, including Luxor at Bagmane Capital Tech Park and a 93% stake in Bagmane Rio. The REIT successfully raised approximately Rs 1,150 crore from anchor investors, with participation from a diverse group of institutional investors such as India — National Pension System Trust, SBI Life Insurance Company, Kotak Mahindra Bank, Kotak Mahindra Bank, Kotak Mahindra Bank, and Nippon India Mutual Fund. The IPO received a 71% subscription on its first day and 1.48 times subscription on the second day, demonstrating strong market interest. Bagmane Prime Office REIT's portfolio comprises six premium Grade A+ business parks in Bengaluru, with a high committed occupancy of 98.8% and a tenant base including multinational corporations like Alphabet Inc., Amazon (company), Nvidia, and Samsung Electronics. The units are expected to be listed on the BSE and NSE on May 15, 2026.