Upcoming IPO: Bagmane Prime Office REIT Filed DRHP with SEBI for ₹4,000 Crore IPO

Bagmane Prime Office REIT, sponsored by Bagmane Group, has filed draft offer documents with the market regulator to raise up to ₹4,000 crore through an Initial Public Offering (IPO).

Bagmane Prime Office REIT IPO Details

According to the draft red herring prospectus filed with the Securities and Exchange Board of India (SEBI), the proposed IPO will consist of a fresh issuance of units worth up to ₹3,000 crore, along with an Offer for Sale (OFS) of up to ₹1,000 crore.

Use of Proceeds

The proceeds from the fresh issue will primarily be deployed for asset acquisitions. The REIT plans to acquire Luxor at Bagmane Capital Tech Park, a one million square foot office asset, for ₹1,775 crore. Additionally, up to ₹1,025 crore will be used to partially fund the acquisition of a 93% stake in Bagmane Rio, which owns the 1.1 million square foot Bagmane Rio Business Park.

About Bagmane Prime Office REIT

Bagmane Prime Office REIT’s portfolio comprises six Grade A+ office business parks with a total leasable area of 20.3 million square feet, of which 16.1 million square feet is completed. The portfolio also includes two under-construction hotels spanning 0.7 million square feet with a combined capacity of 607 keys.

As of June 30, 2025, the REIT reported a committed occupancy of 97.9% across its assets and a Gross Asset Value (GAV) of ₹38,790 crore.

Also Read: Oyo Parent Prism Filed DRHP with SEBI via Confidential Route for ₹6,650 Crore IPO

Investment in REITs in India

Among the five listed REITs in India, Nexus Select Trust is the only one focused on rent-yielding retail assets such as shopping malls, while the remaining four are office-focused REITs. With office leasing activity rebounding strongly in the post-pandemic period, developers and institutional asset owners are increasingly turning to REIT IPOs as a route to monetise their commercial real estate portfolios.

Real Estate Investment Trusts (REITs) serve as investment platforms that own and manage income-producing real estate assets, allowing investors to participate in rental income streams without directly owning physical properties.

India currently has five listed REITs: Sattva Group and Blackstone-backed Knowledge Realty Trust (KRT), K Raheja Corp-sponsored Mindspace Business Parks REIT, Brookfield India Real Estate Trust, Embassy Office Parks REIT, and Nexus Select Trust.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.