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Bagmane Prime Office REIT IPO: The initial public offering (IPO) of Bagmane Prime Office REIT, which owns and operates a premium-grade office portfolio in Bengaluru, has opened for bidding today, 5 May. The offer will close later this week on Thursday, 7 May.
Bagmane Prime Office REIT IPO price band has been fixed at ₹95 to ₹100 per share. The offer, worth ₹3,405 crore at the upper end of the range, consists of a fresh share sale of ₹2,390 and an offer for sale of ₹1,015 crore.
The company plans to use the funds from the fresh proceeds raised for funding acquisition and general corporate purposes. Investors can apply for a lot of 150 shares and multiples thereof.
The offer has received a tepid response from investors so far, booked just 8% on the as of 2.15 pm, according to data available on the National Stock Exchange (NSE).
Bagmane Prime Office REIT IPO grey market premium (GMP) was at ₹4.25 per share. This means that the Bagmane Prime Office REIT share was trading at ₹104.25 in the unofficial market.
At the current GMP, Bagmane Prime Office REIT IPO listing could occur at a premium of 4.25% on NSE and BSE. Shares of Bagmane Prime Office REIT IPO are slated to list on 15 May.
Bagmane Prime has a portfolio of 6 large business parks with a total area of 20.3 msf, including 19.6 msf of leasable area. The portfolio also includes 2 under‑construction hotels (607 keys) and solar assets with 164.4 MW (DC) capacity. All assets are located in Bengaluru.
The REIT follows an integrated, tenant-first model, leveraging built-to-suit (BTS) office solutions, active asset management, fit-out services, and renewable solar energy infrastructure to serve marquee multinational tenants across its portfolio. It boasts a strong and diversified tenant base, dominated by leading global MNCs and GCCs, including several Fortune 500 companies.
The REIT's portfolio integrates large-scale campus-style office parks with strong on-campus amenities and strategic location.
The revenue from operations grew to ₹2370.75 crore in FY2025 from ₹2205.37 crore in FY2024, registering a 7.5% YoY increase. Meanwhile, EBITDA margin expanded to 80.4% in FY2025 from 78.9% in FY2024.
SBI Capital Markets, JM Financial, Kotak Mahindra Capital Co, Axis Capital, IIFL Capital Services, 360 One WAM and HDFC Bank are the book-running lead managers. KFin Technologies is the registrar for the offer.
Saloni Goel has over nine years of experience as a business journalist, with a strong track record of covering the financial markets. Over the course of her career, she has reported extensively on global and domestic equities, IPO market activity, commodities, and broader macroeconomic trends. Her reporting reflects a keen eye for detail, data-driven analysis, and the ability to spot emerging themes early.<br> At Mint, Saloni has been part of the markets team for nearly two years, where she currently works as Chief Content Producer. In this role, she plays a key part in shaping market coverage, driving editorial strategy, and ensuring timely, accurate, and insightful reporting across. She has been closely involved in breaking news coverage and in crafting stories that help decode the complex financial developments.<br> Before joining Mint, Saloni worked with some of India’s leading business newsrooms, including The Economic Times and Business Standard. Throughout her career, she has worn multiple hats—ranging from reporting and editing to contributing in-depth features and identifying new storytelling formats and market trends.<br> Her experience in fast-paced digital newsrooms has given her an edge in simplifying complex market concepts without losing analytical depth. Outside of work, Saloni enjoys reading books and spending time with her pet.
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