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Bagmane Prime Office REIT IPO

Bagmane Prime Office REIT IPO — date, price band, GMP & allotment 2026

Bagmane Prime Office REIT is a Bengaluru-based commercial real estate investment trust incorporated in May 2025, sponsored by Bagmane Realty & Infrastructure. Its IPO is scheduled to open from 5 May to 7 May 2026, with listing expected around mid-May. The REIT follows a rent-yield business model, owning and leasing premium Grade A+ office parks mainly in Bengaluru, catering to multinational tenants and generating stable rental income for investors.

Stock price

Bagmane Prime Office REIT is listed — here is the live share price.

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The verdict
Strong Apply
100 / 100 · 1 review
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Grey market premium
▲ ₹4
+4% over ₹100 issue price
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TBA
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Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Timetable

Key dates from opening to listing. Today is 14 September.

Key dates Listed
  1. Open 05 May 2026
  2. Close 07 May 2026
  3. Allotment 12 May 2026
  4. Refund/credit 13 Jun 2026
  5. Listing 15 May 2026

Issue summary

The terms of the offer, as filed.

IPO Dates 5 to 7 May, 2026
Price Band ₹95 – ₹100
Face Value ₹TBA
Lot Size TBA Shares
Issue Size ₹3405 Cr
Sale Type Fresh capital cum OFS
Registrar KFin Technologies Limited
Min Investment TBA

Strengths & risks

Drawn from the offer document — the case for and against, side by side.

Strengths · 5

  • 01Micro-market dominance in Bengaluru's hottest corridors
  • 02Blackstone backing + marquee global tenant base
  • 03Strong financials with consistent profit growth
  • 04Large pipeline of future development assets
  • 0543% of your portfolio is purpose-built for the occupant

Risks · 4

  • 01Extreme geographic concentration — single city, two corridors
  • 0258% of growth depends on buildings not yet built — high execution risk
  • 03Overdependence on foreign multinationals (GCC tenants)
  • 04Limited yield upside at current pricing

Three years of numbers

All figures in ₹ crore, as reported in the Bagmane Prime Office REIT offer document.

Total income
1,959.79
2,237
2,391
1,960
31 Mar 202431 Mar 202531 Dec 2025
Profit after tax
829.02
809
897
829
31 Mar 202431 Mar 202531 Dec 2025
Metric 31 Dec 2025 31 Mar 2025 31 Mar 2024
Revenue 1,959.79 2,390.88 2,237.33
Net Profit 829.02 897.10 809.36
Assets 7,674.82 7,238.48 6,816.04

See how this IPO compares — view listing performance of all mainboard IPOs.

Valuation & key ratios

Ratios are for the latest full financial year reported in the Bagmane Prime Office REIT RHP.

Where the money goes

₹820.00 Cr of the issue is earmarked to named objects.

Acquisition by BDPL of Luxor @ Bagmane Capital Tech Park 1,420.00
Part funding of acquisition by BDPL of 93.00% of the issued and paid-up equity share capital of BRPL ₹820.00 Cr
General purposes Not stated
Total 2,240.00

Bagmane Prime Office REIT IPO Anchor Investors

50 anchor investors across 38 fund houses committed ₹1,149.74 Cr a day before the issue opened.

Anchor Investor Fund House Shares Amount (₹ Cr) % of Anchor Book
SBI Nps Trust-SBI Pension Fund Scheme-State Govt. SBI Nps Trust 10,750,000 107.50 9.35%
SBI Nps Trust-SBI Pension Fund-Ups-Cg Scheme SBI Nps Trust 5,000,000 50.00 4.35%
Whiteoak Capital Multi Asset Allocation Fund Whiteoak Capital Mutual Fund 6,300,000 63.00 5.48%
Whiteoak Capital Large Cap Fund Whiteoak Capital Mutual Fund 800,100 8.00 0.70%
Whiteoak Capital Reit & Invit Alternates Fund I Whiteoak 1,899,900 19.00 1.65%
SBI Life Insurance Co.ltd. SBI Life Insurance 7,500,000 75.00 6.52%
Qsif Hybrid Long-Short Fund Quant Mutual Fund 1,000,050 10.00 0.87%
Quant Dynamic Asset Allocation Fund Quant Mutual Fund 6,499,950 65.00 5.65%
UTI Large & Mid Cap Fund UTI Mutual Fund 478,950 4.79 0.42%
UTI Aggressive Hybrid Fund UTI Mutual Fund 445,350 4.45 0.39%
UTI Dividend Yield Fund UTI Mutual Fund 50,400 0.50 0.04%
UTI Balanced Advantage Fund UTI Mutual Fund 1,084,050 10.84 0.94%
UTI Multi Asset Allocation Fund UTI Mutual Fund 941,250 9.41 0.82%
Kotak Debt Hybrid Fund Kotak Mahindra Mutual Fund 1,249,950 12.50 1.09%
Kotak Equity Savings Fund Kotak Mahindra Mutual Fund 1,250,100 12.50 1.09%
Nippon India Balanced Advantage Fund Nippon India Mutual Fund 2,000,100 20.00 1.74%
Altiva Hybrid Long-Short Fund Edelweiss Mutual Fund 3,150,000 31.50 2.74%
Edelweiss Aggressive Hybrid Fund Edelweiss Mutual Fund 3,150,000 31.50 2.74%
Edelweiss Equity Savings Fund Edelweiss Mutual Fund 1,200,000 12.00 1.04%
JM Aggressive Hybrid Fund JM Financial Mutual Fund 1,500,000 15.00 1.30%
360 One Multi Asset Allocation Fund 360 One Mutual Fund 1,006,500 10.07 0.88%
360 One Lvf Treasury Solutions Fund 360 One 4,999,500 50.00 4.35%
360 One Real Assets Development Fund 360 One 2,970,000 29.70 2.58%
360 One Real Estate Lvf-1 360 One 2,499,000 24.99 2.17%
Nuvama Multi Asset Strategy Return Fund Nuvama 5,000,100 50.00 4.35%
Tata Aig General Insurance Co.ltd. Tata Aig General Insurance 2,000,100 20.00 1.74%
SBI General Insurance Co.ltd. SBI General Insurance 2,500,050 25.00 2.17%
ICICI Nps Trust-ICICI Prudential Pension Fund Scheme E-Tier I ICICI Nps Trust 2,500,050 25.00 2.17%
Kotak Mahindra Life Insurance Co.ltd. Kotak Life Insurance 4,000,050 40.00 3.48%
Axis Max Life Insurance Ltd.-Participating Fund Axis Max Life Insurance 4,000,050 40.00 3.48%
Indusind General Insurance Co.ltd. Indusind General Insurance 1,500,000 15.00 1.30%
Societe Generale-Odi Societe General 3,500,100 35.00 3.04%
Capri Global Capital Ltd. Capri 3,500,100 35.00 3.04%
PNB Metlife India Insurance Co.ltd. PNB Metlife India Insurance 1,500,000 15.00 1.30%
Star Health & Allied Insurance Co.ltd. Star Health & Allied Insurance 1,000,050 10.00 0.87%
Edelweiss Life Insurance Co.ltd. Edelweiss Life Insurance 1,500,000 15.00 1.30%
Zuno General Insurance Ltd. Zuno General Insurance 748,500 7.49 0.65%
Bajaj Life Insurance Co.ltd. Bajaj Life Insurance 1,000,050 10.00 0.87%
Bharti Axa Life Insurance Co.ltd. Bharti Axa Life Insurance 1,000,050 10.00 0.87%
Go Digit General Insurance Ltd. Go Digit General Insurance 1,000,050 10.00 0.87%
Pramerica Life Insurance Ltd. Pramerica Life Insurance 1,000,050 10.00 0.87%
Neo Prime Fund Neo 1,000,050 10.00 0.87%
Dharmayug Investments Ltd. Dharmayug Investments 1,500,000 15.00 1.30%
J.p.taparia Family Trust J.p.taparia Family Trust 1,500,000 15.00 1.30%
Bengani Leasing & Finance Pvt.ltd. Bengani Leasing & Finance 1,000,050 10.00 0.87%
Ecl Finance Ltd. Edelweiss 1,000,050 10.00 0.87%
Chhattisgarh Investments Ltd. Chhattisgarh Investments 1,500,000 15.00 1.30%
Viridian Asia Opportunities Master Fund Viridian 1,000,050 10.00 0.87%
Rajasthan Global Securities Pvt.ltd. Rajasthan Global Securities 1,000,050 10.00 0.87%
Kotak Optimus Moderate Scheme Kotak 500,100 5.00 0.43%
Total anchor allocation 1,149.74

Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.

About the company

Bagmane Prime Office REIT is sponsored by Bagmane Realty & Infrastructure LLP, part of the Bagmane Group, which has nearly three decades of experience in developing and managing large-format Grade A+ office parks in Bengaluru. The REIT was established in 2025 to consolidate the group’s income-generating commercial assets into a listed platform. Its initial portfolio includes multiple business parks such as Bagmane World Technology Centre, Bagmane Tech Park and Bagmane Constellation Business Park, primarily located in key Bengaluru office micro-markets.
The REIT’s business model focuses on owning and leasing premium office spaces to multinational corporations and global capability centres, generating stable rental income and periodic distributions to unitholders. The portfolio comprises around 20 million sq. ft. of Grade A+ office space with high committed occupancy, along with supporting assets such as hotels under development and solar power projects for diversification. The tenant base is largely global technology and multinational companies, providing long-term lease visibility and steady cash flows.

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Registered office
Bagmane Prime Office REIT Address 5th Floor, ‘B’ Block, Laurel Building, C.V. Raman Nagar, Bagmane Tech Park, Bengaluru, Karnataka, 560093
+91 80 4032 9901
Registrar

The bankers & the filings

Who is running the book, and the documents this page is built from.

Book-running lead manager
JM Financial Ltd. View track record →

Lead Manager Track Record

How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.

JM Financial Ltd.

29 issues handled
Listed in Profit 76% 19 of 25 listed
Avg Listing Gain +15.5% across 25 issues
Listed Below Issue 6 of 25 listed

Best listing: Tempsens Instruments (India) (+111.3%). Weakest: Turtlemint Fintech Solutions (-10.4%).

Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.

Company contact

Company
Bagmane Prime Office REIT
Email

Frequently asked

What is the GMP of Bagmane Prime Office REIT?

The current Grey Market Premium is ₹4, or 4% over the issue price.

What is the Bagmane Prime Office REIT IPO price band?

₹95 to ₹100.

When is the allotment?

The basis of allotment is 12 May 2026, with listing on 15 May 2026.

How do I check allotment status?

On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.

Bagmane Prime Office REIT IPO

Every number here traces back to a filing.

IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.

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Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.

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