Bagmane Prime Office REIT IPO

Bagmane Prime Office REIT operates a portfolio of premium commercial office assets located across key business districts in Bengaluru. The REIT manages large-format Grade A+ office parks leased primarily to multinational corporations and global technology companies.

As of December 2025, the portfolio comprised 6 business parks with approximately 20.3 million sq. ft. of total area and around 19.6 million sq. ft. of leasable area, maintaining committed occupancy of nearly 98%.

The REIT’s tenant base includes marquee global corporations such as Google, Amazon, and Nvidia. In addition to completed office assets, the portfolio also includes under-construction developments, future development projects, hospitality assets, and solar projects.

The IPO is a book-built REIT issue of approximately Rs 3,405 Cr with a price band of Rs 95–100 per unit.

The issue comprises a fresh issue of Rs 2,390 Cr and an offer for sale of Rs 1,015 Cr. Proceeds from the fresh issue will primarily be used for acquisition funding of Luxor @ Bagmane Capital Tech Park and acquisition of stake in BRPL.

Bagmane Prime Office REIT benefits from strong occupancy levels, long-term multinational tenants, and stable rental cash flows. Key strengths include premium office assets in Bengaluru and high tenant retention, while risks include dependence on commercial office demand cycles and concentration in a single geographic market.