The ₹3,405 crore IPO of Bagmane Prime Office REIT has received a strong response from investors, becoming fully subscribed on the second day of the public issue. The IPO, which opened on May 5, attracted solid participation from institutional as well as non-institutional investors, reflecting growing confidence in India’s commercial real estate investment sector.
According to market data, the IPO crossed full subscription after bids exceeded the total units offered. Institutional investors showed healthy demand, while retail and high-net-worth investors also participated actively during the ongoing subscription period. The issue is scheduled to close on May 7.
The REIT portfolio is focused on premium Grade-A office parks in Bengaluru and includes major multinational tenants such as Google, Amazon, Nvidia, and Samsung. Industry analysts believe the high occupancy levels and stable rental income have contributed to positive investor sentiment around the offering.
Market observers also noted that the grey market premium (GMP) for the IPO has remained positive, indicating expectations of a healthy stock market debut. Reports suggest the GMP currently points toward potential listing gains of around 4–5% over the upper price band of ₹100 per unit.
Bagmane Prime Office REIT aims to use the IPO proceeds for strategic acquisitions and expansion within its commercial real estate portfolio. The REIT is backed by global investment firm Blackstone and has also received support from the Jhunjhunwala Trust ahead of the public offering.
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