Bagmane Prime Office REIT IPO GMP, Price, Date, Allotment & Subscription Status
Bagmane Prime Office REIT, a Blackstone-backed Bengaluru-based commercial real estate investment trust, is launched its initial public offering (IPO). This marks one of the prominent REIT IPOs, focused on premium Grade A+ office assets. Let’s discuss the it's Grey Market Premium (GMP), price band, key dates, financials, and much more.
Bagmane Prime Office REIT IPO GMP stands at ₹4.25 (4.25%) as of today 7th May 2026.
What is Bagmane Prime Office REIT IPO?
The Bagmane Prime Office REIT IPO is a book-built issue comprising a fresh issue and an Offer for Sale (OFS).
- Issue Size: ₹3,405 rore
- Listing Exchanges: BSE and NSE.
- Lead Manager: JM Financial Consultants Pvt Ltd.
- Registrar: KFin Technologies Limited.
Bagmane Prime Office REIT IPO Key Timeline
| Event | Date |
| IPO Opening Date | 2026-05-05 |
| IPO Closing Date | 2026-05-07 |
| Basis of Allotment | 2026-05-12 |
| Initiation of Refunds | 2026-05-13 |
| Credit of Shares to Demat | 2026-05-13 |
| IPO Listing Date | 2026-05-15 |
Bagmane Prime Office REIT Key IPO Details
- IPO Open Date: 2026-05-05
- IPO Close Date: 2026-05-07
- Issue Size: ₹3,405 Crores
- Fresh Issue: ₹2,390 Crores.
- Offer for Sale: ₹1,015 Crores.
- Price Band: ₹95 - ₹100 per share.
- Lot Size: 150
- Minimum Investment (Retail): 14,250
- IPO Reservation:
- Qualified Institutional Buyers (QIB): Not more than 75% of the Offer
- Non-Institutional Investors (NII/HNI): Not less than 25% of the Offer
- Listing Date: 15 May 2026.
Bagmane Prime Office REIT IPO GMP Today
The grey market premium reflects unofficial trading sentiment ahead of listing. GMP is volatile and not a guaranteed indicator. As of 7th May 2026, GMP stands at approximately ₹4.25, implying a listing price of around ₹104.25 per share about 4.25% premium over the upper band of ₹100.
| GMP Date | IPO Price | GMP | Expected Listing | Premium (%) |
| 07-May-26 | ₹100 | ₹4.25 | ₹104.25 | 4.25% |
| 06-May-26 | ₹100 | ₹4.25 | ₹104.25 | 4.25% |
| 05-May-26 | ₹100 | ₹4.25 | ₹104.25 | 4.25% |
| 04-May-26 | ₹100 | ₹4.25 | ₹104.25 | 4.25% |
| 03-May-26 | ₹100 | ₹4.25 | ₹104.25 | 4.25% |
| 02-May-26 | ₹100 | ₹4.25 | ₹104.25 | 4.25% |
Bagmane Prime Office REIT IPO Subscription Status
| Type of Investor | Subscription (Multiples) |
| Qualified Institutional Buyers (QIB) | 0.69 |
| Non-Institutional Investors (NII) | 0.74 |
| Retail Investors | 0 |
| Total | 0.71 |
Bagmane Prime Office REIT IPO Objectives
- Capital Raising & Acquisition: Proceeds from the fresh issue will primarily be used for acquisition of assets and strategic purposes.
- Debt Repayment/Development: Support portfolio growth, development pipeline, and operational needs.
- OFS Component: Proceeds go to selling shareholders (including Blackstone affiliate).
- Listing Benefits: Enhanced visibility, liquidity, and market discipline for India's office REIT sector.
About Bagmane Prime Office REIT
Bagmane Prime Office REIT was settled in 2025 and focuses on owning and managing premium Grade A+ business parks in Bengaluru. It is sponsored by the Bagmane Group, with nearly three decades of experience in commercial real estate.
- Headquarters: Bengaluru, Karnataka, India.
- Portfolio: Approximately 19.6-20.3 msf leasable area across key micro-markets, with high committed occupancy (~98.8%). Includes office spaces, hotels (607 keys), and solar assets. Tenants include marquee names like Google, Amazon, Nvidia, and other multinationals.
- Scale: One of the largest pure-play office REITs in India, supporting high rental income and growth in Bengaluru's tech-driven market.
Bagmane Prime Office REIT Business Overview
Bagmane Prime Office REIT is India's leading pure-play Grade A+ office REIT with a focus on high-quality business parks. Core operations involve leasing premium office space, generating stable rental income, and managing associated assets, such as hotels and renewable energy assets. It benefits from long-term leases (WALE ~7+ years) and strong tenant profiles.
Bagmane Prime Office REIT Key Highlights
- Portfolio Strength: High occupancy, prime Bengaluru locations, and development pipeline.
- Sponsor Backing: Strong support from Bagmane Group and Blackstone.
- Market Position: Targets stable yields in India's commercial real estate sector.
- Strategic Importance: Exposure to tech/GCC demand in Bengaluru.
Strengths and Challenges of Bagmane Prime Office REIT
Strengths:
- Market leadership in Bengaluru Grade A+ offices with high occupancy and quality tenants.
- Stable cash flows from long-term leases and diversified assets.
- Experienced sponsor with a strong growth pipeline.
Challenges:
- Tenant concentration risk (reliance on a few large MNCs).
- Sector risks, including economic slowdowns affecting office demand and ESG/regulatory pressures.
- Interest rate sensitivity and execution risks in development.
Bagmane Prime Office REIT Financial Performance
| Period Ended | 31-Dec-25 | 31-Mar-25 | 31-Mar-24 |
| Assets | 7,674.82 | 7,238.48 | 6,816.04 |
| Total Income | 1,959.79 | 2,390.88 | 2,237.33 |
| Revenue from operations | 19,429.37 | 23,707.52 | 22,053.65 |
| Profit After Tax | 829.02 | 897.1 | 809.36 |
How to Apply for Bagmane Prime Office REIT IPO?
Investors can apply via ASBA (online/offline) or UPI.
Online ASBA/UPI:
- Log in to your Bank or broker's platform.
- Navigate to the IPO section.
- Select "Bagmane Prime Office REIT".
- Enter the bid details, including lots, price, and UPI ID (if applicable).
- Submit and confirm the mandate by 5 PM on the closing date.
Offline:
- Obtain form from broker/exchange.
- Fill in the details and submit to the broker.
Bagmane Prime Office REIT IPO Allotment Status
Allotment status will be available on the KFin Technologies Limited website on May 12, 2026. Check via PAN, application number, or DP ID on the registrar site, NSE/BSE, or broker platforms.
Bagmane Prime Office REIT Contact Details
Registrar
- Name: KFin Technologies Limited
- Address: Selenium Tower B, Plot No. 21 and 32, Financial District, Nanakramguda, Serilingampally, Hyderabad, Ranga Reddy 500032, Telangana, India.
- Email: bagmane.reit@kfintech.com
- Phone: +91 40 6716 2222 / 1800 309 4001
Lead Manager
- Name: JM Financial Consultants Pvt Ltd
- Address: 7th Floor, Cynergy Appasaheb Marathe Marg, Prabhadevi, Mumbai 400 025 Maharashtra, India.
- Email: bagmane.reit@jmfl.com
- Phone: +91 22 6630 3030
Company
- Name: Bagmane Prime Office REIT
- Address: 5th Floor, ‘B’ Block, Laurel Building, C.V. Raman Nagar, Bagmane Tech Park, Bengaluru 560 093, Karnataka, India.
- Email: reitcompliance@bagmanereit.com
- Phone: 91 80 4032 9901
The Bagmane Prime Office REIT IPO offers investors exposure to high-quality Bengaluru commercial real estate with stable rental yields, strong occupancy, and marquee tenants. However, evaluate risks like tenant concentration and market cycles.
Disclaimer: The information provided in the article is only for educational purposes and should not be taken as investment advice. Investors are advised to conduct their own research and consult SEBI-registered financial advisors before making any investment decisions. Grey market premiums are unofficial and volatile, and past performance is not indicative of future results.
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