Bagmane Prime Office REIT IPO has opened for subscription on May 5, 2026, and will close on May 7, 2026. This ₹3,405 crore REIT offering is priced in the band of ₹95 to ₹100 per unit, with a minimum lot size of 150 units (₹15,000).

Bagmane Prime Office REIT IPO 

Bagmane Prime Office REIT is a Blackstone-backed real estate investment trust that owns and operates Grade-A office properties in Bengaluru’s prime micro-markets. The REIT’s portfolio spans 20.3 million square feet across six premium business parks, including key locations along the Outer Ring Road (ORR) and Secondary Business District (SBD City).

The company was sponsored by Bagmane Realty & Infrastructure LLP and established in May 2025. It is now raising capital through India’s largest REIT IPO to date.

IPO details

Here are the key numbers for Bagmane Prime Office REIT IPO:

• Open Date: May 5, 2026
• Close Date: May 7, 2026
• Anchor Date: May 4, 2026
• Allotment Date: May 12, 2026
• Listing Date: May 15, 2026
• Price Band: ₹95 - ₹100 per unit
• Lot Size: 150 units (₹15,000 minimum investment)
• Issue Size: ₹3,405 crore
• Fresh Issue: ₹2,390 crore
• Offer for Sale (OFS): ₹1,015 crorezerodha+4

Subscription status

As of May 5, 2026 (Day 1), the IPO subscription stood at 0.71x overall:

• QIB: 0.69x
• NII: 0.74x
• Retail: 0
• Others: 0

Subscription is expected to pick up on Day 2 and Day 3, particularly from institutional investors given the REIT’s strong backing and Bengaluru office market positioning.

What proceeds will be used for

The fresh issue proceeds of ₹2,390 crore will fund:

• Acquisition of Luxor at Bagmane Capital Tech Park (1 million sq ft)
• 93% stake in Bagmane Rio (owner of 1.1 million sq ft Bagmane Rio Business Park)
• Debt repayment and other general corporate purposes

Company Financials (Restated)

Period Ended	31 Dec 2025	31 Mar 2025	31 Mar 2024
Assets	7,674.82	7,238.48	6,816.04
Total Income	1,959.79	2,390.88	2,237.33
Profit After Tax	829.02	897.10	809.36

REIT Objects of the Issue

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

How To Apply for the IPO ?

• Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials. 

• Locate the IPO Section: Navigate to the 'IPO' section on the platform. 
• Select IPO: Find and select the IPO from the list of open IPOs. 
• Enter the Lot Size: Specify the number of lots you want to bid for. 
• Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application. 
• Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN. 

How To Check the Allotment Status of IPO?

Steps to check IPO allotment status on JM Pro app: 

• Log in to the JM Pro app. 
• Go to the IPO Section and then to IPO Orders. 
• Select the individual IPO that you had applied for and check the allotment status. 

JM Financial Services will notify you of your IPO allotment status via push notification and email

FAQs

1. What is Bagmane Prime Office REIT IPO price band?
₹95 to ₹100 per unit.

2. When does Bagmane REIT IPO open?
May 5 to May 7, 2026.

3. What is the minimum investment in Bagmane REIT IPO?
₹15,000 for 150 units.

4. What is the issue size?
₹3,405 crore (Fresh ₹2,390 Cr + OFS ₹1,015 Cr).

5. When is Bagmane REIT listing date?
May 15, 2026 on NSE and BSE.

6. Who is the sponsor of Bagmane REIT?
Bagmane Realty & Infrastructure LLP.

7. What properties does Bagmane REIT own?
20.3 million sq ft Grade-A office space in Bengaluru’s ORR and SBD City.

8. Day 1 subscription status?
0.16x overall (NII 0.36x) as of May 5.