Blackstone-backed Bagmane Prime Office REIT is set to launch its ₹3,405 crore book-built issue on May 5, 2026. This total comprises a ₹2,390 crore fresh issue and a ₹1,015 crore offer for sale (OFS).

The Bagmane Prime Office REIT IPO will be open for subscription from Tuesday, May 5, 2026, to Thursday, May 7, 2026. The allotment process is expected to be finalised on Tuesday, May 12, 2026, and the shares are set to be listed on the BSE and NSE.

Bagmane Prime Office REIT - Issue Details

Issue Type: Book Building REIT
Total Issue size: Agg. up to ₹3,405 crores
Fresh Issue: Agg. up to ₹2,390 crores
Offer for sale (OFS): Agg. up to ₹ 1,015 crores
Bid/Offer Opening Date: Tuesday, May 5, 2026
Bid/Offer Closing Date: Thursday, May 7, 2026
Price Band: To be announced
Lot Size: To be announced
Listing: NSE, BSE
Book Running Lead Managers: JM Financial Limited, Kotak Mahindra Capital Company Limited, Axis Capital Limited, IIFL Capital Services Limited (Formerly known as IIFL Securities Limited), SBI Capital Markets Limited, 360 ONE WAM Limited, HDFC Bank Limited.
Registrar: KFin Technologies Limited

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Utilisation of Proceeds

The Company will utilise the Net Proceeds from the Fresh Issue towards the following purposes:

Part funding of acquisition by BDPL of Luxor @ Bagmane Capital Tech Park.
Part funding of the acquisition by BDPL of 93.00% of the issued and paid-up equity share capital of BRPL.
General corporate purposes.

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About Bagmane Prime Office REIT

Bagmane Prime Office REIT, sponsored by the Bengaluru-based Bagmane Group, focuses on acquiring and managing high-quality, Grade A+ commercial business parks. The REIT's portfolio is strategically concentrated in key micro-markets of Bengaluru, one of India's leading office destinations, including 6 Grade A+ business parks, covering a total area of 20.3 million sq. ft., with a leasable area of 19.6 million sq. ft. This portfolio is diverse, comprising completed office buildings, projects under construction, future development sites, hotels, and solar power projects. The tenant base is strong, featuring multinational corporations and global technology companies such as Google, Amazon, and Nvidia.

Key Financials

Particulars	As of December 31, 2025 (in ₹ crores)	As of March 31, 2025 (in ₹ crores)	As of March 31, 2024 (in ₹ crores)	As of March 31, 2023(in ₹ crores)
Total non-current assets	7,176.6	6,830.1	6,484.4	5,874.8
Total current Assets	498.2	408.3	331.5	422.0
Total Assets	7,674.8	7,238.4	6,816.1	6,296.8
Total Equity	2,692.3	1,592.2	1,230.3	1,294.8
Total non-current Liabilities	3,387.2	3,953.1	4,111.3	3,659.9
Total current liabilities	1,595.2	1,693.1	1,474.3	1,342.1
Total Liabilities	4,982.4	5,646.2	5,585.68	5,002
Total Income	1,959.7	2,390.8	2,237.3	2,002.5
Total Expenses	717.2	1,047.1	1,011.7	859.7
Profit Before Tax (PBT)	1,242.5	1,343.8	1,225.5	1,142.7
Net Profit	829.0	897.1	809.3	758.7