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The Bagmane Prime Office REIT IPO is open for subscription from May 5 to May 7, 2026. It is a book-built issue worth ₹3,405 crores, combining a fresh issue of ₹2,390 crores and an offer for sale of ₹1,015 crores. The issue is priced at ₹95–₹100 per unit.
Monitoring the daily subscription status helps investors track demand from QIB and NII categories. As of Day 1 (May 5, 2026), the REIT IPO is subscribed 0.71 times overall, with QIBs at 0.69x and NII at 0.74x.
The Bagmane Prime Office REIT IPO opened on May 5, 2026, and recorded the following subscription figures on Day 1. Both QIB and NII categories participated, with the issue collectively subscribed to 0.71 times by the end of the day.
Since REITs are not open to retail individual investors, the retail, bNII, sNII, Employees, Shareholders, and Others categories recorded zero subscriptions. Two more days remain for the issue to receive further bids before closing on May 7, 2026.
Category | Subscription (x) | Shares Offered | Shares Bid For | Total Amt (₹ Cr.) |
QIB (Ex Anchor) | 0.69 | 8,06,84,100 | 5,56,94,700 | 556.95 |
NII | 0.74 | 6,72,36,900 | 4,98,44,550 | 498.45 |
Total | 0.71 | 14,79,21,000 | 10,55,39,250 | 1,055.39 |
Status as of May 5, 2026 (Day 1): Total subscription stands at 0.71x. Retail and other non-institutional categories are not applicable to REIT issues.
Bagmane Prime Office REIT is a commercial office real estate investment trust focused on owning and managing Grade A+ business parks in Bengaluru. Sponsored by the Bagmane Group, the portfolio covers 20.3 million sq. ft. across 6 business parks, with a committed occupancy of 97.9% as of June 30, 2025. Its tenants include global corporations such as Google, Amazon, and Nvidia, operating across technology and related sectors.
Parameter | Details |
IPO Open Date | May 5, 2026 |
IPO Close Date | May 7, 2026 |
Price Band | ₹95 – ₹100 per unit |
Issue Size | ₹3,405 crores |
Fresh Issue | ₹2,390 crores (23,90,00,000 units) |
Offer for Sale | ₹1,015 crores (10,15,00,000 units) |
Listing Exchange | BSE & NSE |
Tentative Listing Date | May 15, 2026 |
Registrar | Kfin Technologies Ltd. |
Lead Managers | JM Financial, Kotak, Axis Capital & Others |
Event | Date |
IPO Open | May 5, 2026 |
IPO Close | May 7, 2026 |
Allotment | May 12, 2026 |
Refund Initiation | May 13, 2026 |
Credit of Units | May 13, 2026 |
Listing | May 15, 2026 |
Investor Category | Allocation |
QIB | Not more than 75% of the offer |
NII | Not less than 25% of the offer |
Retail | Not applicable |
The net proceeds from the fresh issue of ₹2,390 crores are proposed to be utilised as follows:
₹1,420 crores will be used for the acquisition by BDPL of Luxor @ Bagmane Capital Tech Park.
₹820 crores will part-fund the acquisition by BDPL of 93% of the issued and paid-up equity share capital of BRPL.
The remaining amount will be directed towards General Purposes.
The OFS proceeds of ₹1,015 crores will go to the selling unitholders and will not be retained by the REIT.
Details of anchor investor allocation for the Bagmane Prime Office REIT IPO have not been publicly disclosed as of the time of writing. The table below will be updated once the official anchor allotment data is released.
Parameter | Details |
Anchor Bid Date | May 2, 2026 (tentative) |
Shares Offered to Anchors | Up to 30% of QIB portion |
Anchor Allocation Amount | To be declared |
Anchor Lock-in (50% units) | 30 days from allotment date |
Anchor Lock-in (remaining 50%) | 90 days from allotment date |
Once the anchor investor letter is published, the allocation details, including investor names and amounts, will be updated here.
Click here to check out the recently closed IPO
Bagmane Prime Office REIT IPO gives investors an avenue to participate in Bengaluru's commercial office market. The portfolio spans 20.3 million sq. ft. across 6 Grade A+ business parks, with a committed occupancy of 97.9% and tenants that include Google, Amazon, and Nvidia. The REIT is sponsored by the Bagmane Group, a Bengaluru-based office developer with a development pipeline across multiple cities in India.
The Day 1 subscription of 0.67x reflects participation from both QIB and NII categories, with two more subscription days remaining. Investors may evaluate this REIT based on their own financial goals, risk appetite, and investment horizon before making a decision.
Interested in more opportunities? Check out our Upcoming IPO section for new listings and don’t forget to check your IPO allotment status for Bagmane Prime Office REIT IPO.
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