Bagmane Prime Office REIT will open its ₹3,405 crore IPO on May 5, aiming to expand its premium commercial office portfolio in Bengaluru.
The REIT currently holds six Grade A+ business parks spanning 20.3 million sq ft, with 16.6 million sq ft completed and approximately 99% occupancy—one of the highest among Indian REITs.
Funds from the fresh issue will be deployed to acquire Luxor at Bagmane Capital Tech Park and a majority stake in Bagmane Rio Business Park, both high-quality, income-generating assets leased to multinational tenants.
The tenant base is heavily skewed towards global capability centres, accounting for nearly 89% of occupancy.
The issue is priced at ₹95–₹100 per unit and includes a mix of fresh issue and OFS by a Blackstone affiliate.
