Bagmane Prime Office REIT IPO
Real Estate Investment Trusts • ₹3405 Cr
Medium risk because:
- 5 material risk factors disclosed in DRHP
- Regulatory or legal risks cited in DRHP
- Limited operating history in key business lines
IPOFins risk score from DRHP risk factors, subscription demand & issue structure
Price Band
₹100
Lot Size
150 shares
Issue Size
₹3405 Cr
Open
05 May 2026
Close
07 May 2026
Subscription
16.4×
IPO Schedule
| Issue Open Date | 05 May 2026 |
| Issue Close Date | 07 May 2026 |
| Listing Date | 13 May 2026 |
About Bagmane Prime Office REIT
Note: As per regulations, application cancellation is not allowed for any category. Bagmane Prime Office is a real estate investment trust (REIT) that owns and manages Grade A+ commercial office business parks. The REIT’s portfolio includes six office parks with a total area of 20.3 million square feet and 19.6 million square feet of leasable space, along with under-construction hotels and solar power assets. It provides office spaces to multinational corporations, including technology, electronics, and semiconductor companies, and also offers built-to-suit office solutions tailored to tenant requirements. The portfolio includes completed, under-construction, and future development assets, along with two hotels and multiple solar projects with a combined capacity of 164.4 MW (DC). The assets are primarily located in Bengaluru, particularly in key office micro-markets such as Outer Ring Road and Secondary Business District, where the REIT operates integrated business park developments. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Proceeds from the OFS will go to the respective selling shareholders, whereas the net proceeds from the fresh issue will be utilised for the following purposes: Part funding of acquisition by BDPL of Luxor @ Bagmane Capital Tech Park — Rs 1,420 crore Part funding of acquisition by BDPL of 93.00% of the issued and paid-up equity share capital of BRPL — Rs 820 crore General purposes
Company Details
Founders / Promoters
Mr Raja Bagmane
Founded
2025
Registrar
KARVY
Documents
DRHP / RHP Document (PDF)
View official prospectus →
Investment Analysis
Bagmane Prime Office REIT — IPOFins Verdict
QuantitativeDriven by QIB demand at 17.1x and moderate disclosed risk (5/10), Bagmane Prime Office REIT listed at a premium of 3.5% to its issue price. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
- The REIT operates a portfolio of premium Grade A+ office assets with a total completed area of 16.1 million square feet (msf) as of June 30, 2025, and has maintained a high committed occupancy of 97.9
- The portfolio is concentrated in key office markets such as Bengaluru, which accounted for ~38.0% of total GCC leasing activity between CY2021 and H1CY2025, positioning the REIT to benefit from strong
- The REIT claims to have a strong build-to-suit (BTS) development capability, with BTS assets comprising 44.2% of its leasable area across 21 buildings as of June 30, 2025, enabling long-term tenant re
- The REIT has established long-standing relationships with marquee multinational tenants, including Google and Amazon, and has demonstrated the ability to scale tenant presence within its portfolio ove
- The REIT has demonstrated consistent leasing performance, having leased 6.3 msf between FY23 and Q1FY26, with ~95.8% of this leasing coming from existing tenants, indicating strong tenant retention.
Score breakdown — what drove this verdict
Moderate risk from DRHP → score +0.0
Institutional subscription → score +2.0
Actual listing outcome → score +0.5
Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →
IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.
Listing Performance
Issue Price
₹100
Listing Price
₹103.5
Listing Gain/Loss
+3.50%
Listing Date
13 May 2026
Price Since Listing
Returns are measured against the ₹100 issue price.
Listing
₹103.5
+3.5%
Current
₹104.95
+5.0%
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FAQ
What is the price band of Bagmane Prime Office REIT IPO?
The price band is ₹100 per share with a lot size of 150 shares. Minimum investment: ₹15,000.
What does Bagmane Prime Office REIT do?
Note: As per regulations, application cancellation is not allowed for any category. Bagmane Prime Office is a real estate investment trust (REIT) that owns and manages Grade A+ commercial office business parks. The REIT’s portfolio includes six office parks with a total area of 20.3 million square feet and 19.6 million square feet of leasable space, along with under-construction hotels and solar power assets. It provides office spaces to multinational corporations, including technology, electronics, and semiconductor companies, and also offers built-to-suit office solutions tailored to tenant requirements. The portfolio includes completed, under-construction, and future development assets, along with two hotels and multiple solar projects with a combined capacity of 164.4 MW (DC). The assets are primarily located in Bengaluru, particularly in key office micro-markets such as Outer Ring Road and Secondary Business District, where the REIT operates integrated business park developments. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale (OFS). Proceeds from the OFS will go to the respective selling shareholders, whereas the net proceeds from the fresh issue will be utilised for the following purposes: Part funding of acquisition by BDPL of Luxor @ Bagmane Capital Tech Park — Rs 1,420 crore Part funding of acquisition by BDPL of 93.00% of the issued and paid-up equity share capital of BRPL — Rs 820 crore General purposes
Should I apply for Bagmane Prime Office REIT IPO?
Bagmane Prime Office REIT listed at ₹103.5 (+3.5% premium to the ₹100 issue price) after 16.4x subscription. IPOFins Score 8/10: Driven by QIB demand at 17.1x and moderate disclosed risk (5/10), Bagmane Prime Office REIT listed at a premium of 3.5% to its issue price. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.
Who founded Bagmane Prime Office REIT?
Bagmane Prime Office REIT was founded by Mr Raja Bagmane in 2025.