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InvestmentsIPOBagmane Prime Office REIT IPO

Bagmane Prime Office REIT IPO

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Open Date

5 May 2026

Close Date

7 May 2026

Min Investment

₹ 15,000

Lot Size

150

Issue Size

₹ 3405.00 Cr

Price Range

₹ 95 - ₹ 100

Subscribed

17.8 x
status

IPO Closed Now.

IPO Timeline
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IPO Offer Start
5 May 2026
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IPO Offer Ends
7 May 2026
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Allotment Finalisation
12 May 2026
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Refund Initialisation
13 May 2026
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Non-Institutional Buyers (sHNI)
13 May 2026
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Listing of Shares
15 May 2026
IPO Subscription Details as on 8 May 2026, 09:36 PM
Qualified Instituational Buyers (QiB)
14.42 x
Total
17.8 x
Non-Institutional Buyer (bHNI)
21.85 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
The company owns and manages premium Grade A+ business parks located in Bengaluru's best performing micro-markets (ORR and SBD City). The Portfolio comprises 20.3 msf of Total Area and 19.6 msf of Leasable Area, with 97.9% Committed Occupancy as of June 30, 2025. The company is backed by the Bagmane Group, Bengaluru's largest and one of India's leading pure-play Grade A+ office owner and developer, with almost 3 decades of experience in commercial real estate development.
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Founded In

2025

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CEO

Aditya Bagmane

Financials of Bagmane Prime Office Reit IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2023Mar 2024Mar 2025
Operating Revenue1,979.312,205.372,370.75
Other Income23.2131.9620.12
Total Income
2,002.522,237.332,390.88
Total Expenses
859.781,011.801,047.06
Profit Before Tax1,142.741,225.531,343.81
Total Profit
758.70809.36897.10

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The proceeds are proposed to be utilized for partially funding the acquisition of a premium office asset to expand the REIT’s income-generating portfolio and enhance rental cash flows.1,420
The proceeds are intended to support the acquisition of a majority stake in an asset-owning entity to increase portfolio scale and strengthen long-term distribution potential.820
A portion of the proceeds is expected to be allocated towards general corporate requirements to support operational flexibility and strategic initiatives.-
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  • Difficult-to-replicate assets in best performing micro-markets globally: The company owns premium Grade A+ business parks in Bengaluru's world's best performing micro-markets (ORR and SBD City) with 97.9% Committed Occupancy as of June 30, 2025, which will be the highest among Indian office REITs post-listing.
  • Strong tenant relationships with leading multinational corporates: The company has 98.8% of Gross Contracted Rentals from foreign-headquartered multinational tenants and 88.6% from GCCs, with the highest proportion among listed office REITs in India post-listing, achieving 64.9% tenant Retention Rate from FY2023 to Q1FY2026.
  • Strategic location in India's fastest growing major economy: The company is located in India, the world's fastest-growing major economy with 6.5% real GDP growth in FY2025, where the services sector contributes over 50% to GVA and attracts 19.0% of foreign direct investments in FY2025.
  • Significant Built-to-Suit (BTS) portfolio creating stability: The company has developed BTS solutions for 44.2% of Leasable Area (47.4% of Total Development Area) across 21 buildings as of June 30, 2025, for marquee multinational tenants including Google, Amazon, Samsung, and Texas Instruments.
  • Premium assets with robust campus-style infrastructure: The company provides international standard infrastructure at 83.0% to 94.0% discount to Grade A properties in global cities, with average capital values of ₹20,130.1 psf/US$235.3 psf as of June 30, 2025, featuring comprehensive amenities for over 150,000 employees.
  • Substantial embedded growth opportunities and strong development track record: The company has 20.3% MTM Potential, 7.3 years WALE, and delivered 3.2 msf of Leasable Area from FY2020 to Q1FY2026 with 72.2% pre-leasing and 26.0% leasing within 1 year from completion.
  • Renowned sponsor with deep-rooted market expertise: The company is backed by Bagmane Group, Bengaluru's largest and India's leading pure-play Grade A+ office owner and developer with almost 3 decades of experience, having delivered over 27.7 msf across 7 projects representing 12.3% of Bengaluru's total Grade A office stock.
  • Experienced management team with strong track record: The company's Manager is led by experienced professionals with an average of over 20 years experience, including CEO Richard Hugh Andrew (27+ years), COO Raj Kumar T (23 years), and CFO Ashay Shailesh Shah (16+ years) in real estate sector.
  • Strong commitment to sustainability and governance standards: The company has achieved 5-star GRESB rating with 93/100 score in 2025, obtained LEED certifications for 92.1% of Completed Area, and is one of the first developers in India to become RE100 member, targeting 100% renewable electricity by CY2030.

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