What is the GMP of Bagmane Prime Office REIT IPO today?

The Grey Market Premium (GMP) for Bagmane Prime Office REIT IPO is currently ₹4. With an upper price band of ₹100, the estimated listing price is ₹104 per share, reflecting an expected listing gain of ~4.00%. Grey market premiums can fluctuate based on market sentiment and subscription demand.

What is the price band and lot size for Bagmane Prime Office REIT IPO?

The price band for Bagmane Prime Office REIT IPO is ₹95 to ₹100 per equity share. The minimum lot size is 150 shares, which requires a minimum retail application investment of ₹15,000.

What are the important dates for Bagmane Prime Office REIT IPO?

Bagmane Prime Office REIT IPO opens for subscription on 2026-05-05T00:00:00 and closes on 2026-05-07T00:00:00. The basis of allotment is scheduled for 2026-05-12T00:00:00, and shares are expected to list on 2026-05-15T00:00:00 on BSE, NSE.

How can I check the allotment status for Bagmane Prime Office REIT IPO?

You can check Bagmane Prime Office REIT IPO allotment status on the registrar's official portal (KFin Technologies Limited) or through the official BSE and NSE IPO allotment status pages using your PAN number or Application number.

How to apply for Bagmane Prime Office REIT IPO?

Investors can apply for Bagmane Prime Office REIT IPO online through ASBA (Application Supported by Blocked Amount) via their internet banking account, or via UPI using authorized stockbroking platforms like Zerodha, Groww, Angel One, and Upstox.

When does the Bagmane Prime Office REIT IPO open and close?

The IPO opens on 5 May 2026, and closes on 7 May 2026.

What is Bagmane Prime Office REIT IPO price band?

The issue price band is ₹95.00 to ₹100.00 per equity share.

What is the Bagmane Prime Office REIT IPO lot size?

The minimum lot size is 150 shares per application.

What is the Bagmane Prime Office REIT IPO allotment date?

The allotment is scheduled on 12 May 2026.

Bagmane Prime Office REIT IPO Details - Dates, Price Band, Issue Size

All IPOs

Issue Size

3405.00 Cr

Price Band

₹95.00 - ₹100.00

Lot Size

150 Shares

Min Investment

₹15,000

GMP

₹4

Subscription

15.5x

₹34,947.22 Cr

05 May 2026

IPO Opens

COMPLETED

07 May 2026

IPO Closes

COMPLETED

12 May 2026

Basis of Allotment

COMPLETED

13 May 2026

Refunds

COMPLETED

13 May 2026

Demat Credit

COMPLETED

15 May 2026

Listing

COMPLETED

IPO Timeline

IPO OpensDONE

05 May 2026

IPO ClosesDONE

07 May 2026

Basis of AllotmentDONE

12 May 2026

RefundsDONE

13 May 2026

Demat CreditDONE

13 May 2026

ListingDONE

15 May 2026

About Bagmane Prime Office REIT IPO

Bagmane REIT IPO open date is May 5, 2026 and the IPO will close on May 7, 2026. Bagmane Prime Office REIT IPO is a Bookbuilding Issue. The company to raise around ₹3,405 crores via IPO that comprises fresh issue of ₹2,390 crores and offer for sale up to 10,15,00,000 equity shares with face value of ₹[.] each.

Bagmane Prime Office REIT IPO price band is ₹95 to ₹100 per share. The retail quota is [.]%, QIB is 75%, and HNI is 25%. Bagmane Prime Office REIT IPO to list on BSE, NSE on May 15, 2026. The allotment of Bagmane Prime Office REIT IPO date is May 12, 2026.

The company reported revenue of ₹2,390.88 crores in 2025 against ₹2,237.33 crores in 2024. The company reported profit of ₹897.10 crores in 2025 against profit of ₹809.36 crores in 2024. As per the financials the IPO investors should apply the IPO for a long term.

IPO Details

Bagmane Prime Office REIT IPO Details and Specifications
IPO Date	05 May 2026 to 07 May 2026
Face Value	₹100 Per Share
Price Band	₹95.00 - ₹100.00
Lot Size	150 Shares
Total Issue Size	Approx 3405.00 Cr 34,05,00,000 Equity Shares
Fresh Issue	Approx 2390.00 Cr 23,90,00,000 Equity Shares
Offer for Sale	Approx 1014.00 Cr 10,14,99,997 Equity Shares
Retail Portion	35%
Sale Type	Offer for sale
Issue Type	Book-Building IPO
Listing Date	15 May 2026
Listing At	BSE & NSE
Total Subscription Amount	₹34,947.22 Cr

Issue Reservation

Investor Category	Shares Offered	% Net Issue
QIB	19,16,25,000	0.00%
- Anchor	11,49,74,850	0.00%
- QIB (Ex. Anchor)	7,66,50,150	0.00%
NII	6,38,75,000	0.00%
- bNII > ₹10L	TBA	0.00%
- sNII < ₹10L	TBA	0.00%
Retail	TBA	0.00%
Share Holders	8,50,00,000	0.00%
Total	34,05,00,000	0.00%

IPO Lot Size

Application	Lots	Shares	Amount
Individual investors (Retail) (Min)	1	150	₹15,000

About Company

Bagmane Prime Office REIT is one of the growing Commercial real estate investment trusts, with 30 years of experience in managing and developing large-format Grade A office assets. This Bengaluru-based company owns and manages large Grade A commercial buildings, located mainly in important areas of the city, and earns money by renting out to big international companies.

Bagmane Prime Office REIT has a total leasable area of 19.6 million sq. ft. across 6 business parks, with 98.8% committed occupancy and over 60 tenants. The company manages various types of properties, such as under-construction developments, future development projects, hotels, and solar power projects. So far, its properties are leased to big global companies like Google, Amazon, Nvidia, and other multinational companies.

Contact Details

Bagmane Prime Office REIT

5th Floor, ‘B’ Block,

Laurel Building, C.V. Raman Nagar,

Bagmane Tech Park,

Bengaluru, Karnataka, 560093

+91 80 4032 9901

reitcompliance@bagmanereit.com

Visit Website

Registrar

KFin Technologies Limited

04067162222

einward.ris@kfintech.com

Lead Managers

Axis Capital Ltd

Hdfc Bank Ltd

IIFL Capital Services Ltd

JM Financial Ltd

Kotak Mahindra Capital Company Ltd

SBI Capital Markets Ltd

Day-wise GMP Trend

Date & Time	GMP (₹)	Est. Listing Price	Est. Gain (%)	Est. Profit / Lot (₹)
14-May-2026 12:00 PM	+₹4	₹104	+4.00%	₹600
13-May-2026 12:00 PM	+₹4.5	₹104.5	+4.50%	₹675
12-May-2026 12:00 PM	+₹4.5	₹104.5	+4.50%	₹675
11-May-2026 12:00 PM	+₹4.5	₹104.5	+4.50%	₹675
09-May-2026 12:00 PM	+₹4.5	₹104.5	+4.50%	₹675
08-May-2026 12:00 PM	+₹4.5	₹104.5	+4.50%	₹675
07-May-2026 12:00 PM	+₹4.5	₹104.5	+4.50%	₹675
06-May-2026 12:00 PM	+₹4.5	₹104.5	+4.50%	₹675
05-May-2026 12:00 PM	+₹4	₹104	+4.00%	₹600
04-May-2026 12:00 PM	+₹4	₹104	+4.00%	₹600
02-May-2026 12:00 PM	+₹4	₹104	+4.00%	₹600
01-May-2026 12:00 PM	+₹4	₹104	+4.00%	₹600

Subscription Status

Category	Subscription (x)	Shares Offered	Shares bid for	Total Amount (₹ Cr)
QIB (Ex. Anchor)	26.58x	7,66,50,150	2,03,72,28,750	₹20,372.29 Cr
NII	22.82x	6,38,75,000	1,45,74,93,450	₹14,574.93 Cr
Total	15.50x	14,05,25,150	3,49,47,22,200	₹34,947.22 Cr

Objects of the Issue

01 Acquisition by BDPL of Luxor @ Bagmane Capital Tech Park : 1420.00 Cr
02 Part funding of acquisition by BDPL of 93.00% of the issued and paid-up equity share capital of BRPL : 820.00 Cr
03 General purposes : 71.70 Cr
04 Issue Expenses : 100.10 Cr

Company Financials

Period Ended	31 MAR 2026	31 MAR 2025	31 MAR 2024
Total Income	—	2390.88	2237.33
Profit After Tax	-0.26	897.10	809.36

Amount in ₹ Crore

IPO Valuation - KPI

KPI details will be updated soon.

Peer Comparison

Company Name	EPS (₹)	P/E (x)	NAV (₹)	RoNW (%)	Income (₹ Cr)
Knowledge Realty Trust	-	-	118.00	-	-
Brookfield India Real Estate Trust	-	-	355.00	-	-
Mindspace Business Parks REIT	-	-	484.90	-	-
Embassy Office Parks REIT	-	-	445.91	-	-

IPO Anchor Investors

Anchor Investors Letter (PDF)

Promoters and Holding Pattern

Promoter details will be updated soon.

Particular	Pre IPO	Post IPO
Others*	100.00%	100.00%

Strengths

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% during the same period.
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 demand driven by global capability centres (GCCs).
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 relationships and stable cash flows.
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 over time significantly.
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.
The REIT has achieved rental growth through re-leasing, with ~4.4 msf re-leased at an average spread of 15.0% over the last three fiscals and Q1FY26.
The REIT is backed by its sponsor, the Bagmane Group, which has developed over 27.7 msf of commercial real estate and has an additional 7.1 msf under development as of June 30, 2025, reflecting a strong development track record.
The REIT has embedded growth potential, with a mark-to-market (MTM) rental upside of approximately 20.3% as of June 30, 2025, and lease expiries over FY2026–FY2030 providing opportunities for rental resets.
The REIT claims to follow a sustainability-focused approach and has obtained ISO 9001:2015 certification for quality management systems, ISO 14001:2015 certification for environmental management systems, and ISO 45001:2018 certification for occupational health and safety management systems.
The REIT has also received sustainability-related recognitions, including a 5-star GRESB rating with a score of 93/100 in 2025, reflecting its ESG-focused initiatives.
The REIT claims to be committed to renewable energy adoption and has installed solar power capacity, with a target to achieve 100% renewable electricity usage by CY2030.

Risks

The REIT is subject to stringent regulatory requirements under REIT regulations, which impose restrictions on its investment strategy and asset allocation. Any adverse changes in these regulations or failure to comply with requirements such as maintaining minimum investments in income-generating assets or adhering to borrowing limits (capped at 49% of asset value) could restrict the REIT’s ability to raise funds or acquire new assets. This may limit growth opportunities, including acquisitions under existing agreements, and could lead to penalties, forced divestments, or other regulatory actions.
The Bagmane REIT has a limited operating history, as it was established in May 2025 and registered with SEBI in July 2025. As a result, there is no historical track record at the REIT level to evaluate its ability to generate stable cash flows or sustain distributions. Any inability to successfully integrate the acquired portfolio assets or execute its business strategy could adversely affect its financial performance.
The REIT’s entire revenue is concentrated in a single geographic region, with 100% of its revenue from operations derived from Karnataka, amounting to Rs 2,370.75 crore in FY25, Rs 2,205.36 crore in FY24, and Rs 1,979.31 crore in FY23. Within this, a significant portion comes from specific micro-markets such as ORR (63.67% in FY25) and SBD City (33.18% in FY25). Any adverse developments in Bengaluru’s commercial real estate market, including changes in occupancy rates, rental values, or demand-supply dynamics, can adversely impact the REIT’s business and financial condition. Additionally, the REIT’s performance is closely tied to infrastructure development and the regulatory environment in Bengaluru. Any delays in infrastructure projects, such as metro expansion or connectivity upgrades, or the introduction of region-specific employment regulations, may affect tenant demand and the attractiveness of its assets, thereby impacting occupancy levels and cash flows.
A significant portion of the REIT’s revenue is concentrated among a limited number of large tenants, particularly multinational corporations and Global Capability Centres (GCCs). The top 10 tenants contributed 63.6%, 60.6%, and 61.2% of Gross Contracted Rentals in FY25, FY24, and FY23, respectively, while the top 2 tenants alone accounted for 28.55%, 27.00%, and 23.45% of revenue from operations during the same period. Any failure to retain these key tenants, renew leases on favourable terms, or replace them in case of vacancy could adversely affect the REIT’s business and financial condition. Any adverse developments in these sectors, including global economic slowdowns, regulatory changes, or currency fluctuations, could impact tenant demand, leading to lease renegotiations, non-renewals, or vacancies, thereby affecting revenues and cash flows.
The REIT also has a high sectoral concentration, with a majority of its rentals derived from tenants in the technology, semiconductor, e-commerce, and electronics sectors. For instance, the technology sector alone contributed 33.8% of Gross Contracted Rentals in FY25, followed by semiconductor (20.4%), e-commerce (11.3%), and electronics (10.0%). Any adverse developments in these sectors, including global economic slowdowns, regulatory changes, or currency fluctuations, could impact tenant demand, leading to lease renegotiations, non-renewals, or vacancies, thereby affecting revenues and cash flows.
The REIT, its portfolio companies, and certain members of the sponsor group are involved in multiple ongoing legal and regulatory proceedings. Any adverse judgment in these cases could result in financial liabilities, increased expenses, and reputational damage, thereby affecting the REIT’s business and financial condition.
The REIT has contingent liabilities arising from pending tax-related litigations amounting to Rs 106.97 crore as of December 31, 2025. These primarily relate to disputes in Goods and Services Tax (GST), service tax, and income tax. If any of these contingent liabilities materialise, it could result in substantial financial outflows, adversely affecting the REIT’s financial condition, profitability, and cash flows.
As of December 31, 2025, the company had total outstanding borrowings of Rs 3,029.62 crore, including term loans from banks and financial institutions, overdraft facilities, and liabilities towards convertible instruments. Servicing these borrowings requires regular interest and principal repayments, which may put pressure on cash flows. Any adverse inability to service or refinance this debt could impact the company’s financial condition and operational flexibility.

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About Bagmane Prime Office REIT IPO

IPO Details

Bagmane Prime Office REIT IPO Details and Specifications
IPO Date	05 May 2026 to 07 May 2026
Face Value	₹100 Per Share
Price Band	₹95.00 - ₹100.00
Lot Size	150 Shares
Total Issue Size	Approx 3405.00 Cr 34,05,00,000 Equity Shares
Fresh Issue	Approx 2390.00 Cr 23,90,00,000 Equity Shares
Offer for Sale	Approx 1014.00 Cr 10,14,99,997 Equity Shares
Retail Portion	35%
Sale Type	Offer for sale
Issue Type	Book-Building IPO
Listing Date	15 May 2026
Listing At	BSE & NSE
Total Subscription Amount	₹34,947.22 Cr

Investor Category

Shares Offered

% Net Issue

QIB

19,16,25,000

0.00%

- Anchor

11,49,74,850

0.00%

- QIB (Ex. Anchor)

7,66,50,150

0.00%

NII

6,38,75,000

0.00%

- bNII > ₹10L

TBA

0.00%

- sNII < ₹10L

TBA

0.00%

Retail

TBA

0.00%

Share Holders

8,50,00,000

0.00%

Total

34,05,00,000

0.00%

Application

Lots

Amount

Individual investors (Retail) (Min)

150

₹15,000

About Company

Contact Details

Bagmane Prime Office REIT

5th Floor, ‘B’ Block,

Laurel Building, C.V. Raman Nagar,

Bagmane Tech Park,

Bengaluru, Karnataka, 560093

+91 80 4032 9901

reitcompliance@bagmanereit.com

Visit Website

Date & Time

GMP (₹)

Est. Listing Price

Est. Gain (%)

Est. Profit / Lot (₹)

14-May-2026 12:00 PM

+₹4

₹104

+4.00%

₹600

13-May-2026 12:00 PM

+₹4.5

₹104.5

+4.50%

₹675

12-May-2026 12:00 PM

+₹4.5

₹104.5

+4.50%

₹675

11-May-2026 12:00 PM

+₹4.5

₹104.5

+4.50%

₹675

09-May-2026 12:00 PM

+₹4.5

₹104.5

+4.50%

₹675

08-May-2026 12:00 PM

+₹4.5

₹104.5

+4.50%

₹675

07-May-2026 12:00 PM

+₹4.5

₹104.5

+4.50%

₹675

06-May-2026 12:00 PM

+₹4.5

₹104.5

+4.50%

₹675

05-May-2026 12:00 PM

+₹4

₹104

+4.00%

₹600

04-May-2026 12:00 PM

+₹4

₹104

+4.00%

₹600

02-May-2026 12:00 PM

+₹4

₹104

+4.00%

₹600

01-May-2026 12:00 PM

+₹4

₹104

+4.00%

₹600

Bagmane Prime Office REIT IPO Details

About Bagmane Prime Office REIT IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

IPO Anchor Investors

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the Bagmane Prime Office REIT IPO open and close?

What is Bagmane Prime Office REIT IPO price band?

What is the Bagmane Prime Office REIT IPO lot size?

What is the Bagmane Prime Office REIT IPO allotment date?

What is the Bagmane Prime Office REIT IPO listing date?

What is the minimum investment required in Bagmane Prime Office REIT IPO?

Join the discussion

Bagmane Prime Office REIT IPO Details

About Bagmane Prime Office REIT IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

IPO Anchor Investors

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the Bagmane Prime Office REIT IPO open and close?

What is Bagmane Prime Office REIT IPO price band?

What is the Bagmane Prime Office REIT IPO lot size?

What is the Bagmane Prime Office REIT IPO allotment date?

What is the Bagmane Prime Office REIT IPO listing date?

What is the minimum investment required in Bagmane Prime Office REIT IPO?

Join the discussion