Bagmane Prime Office REIT IPO Hits 83% Subscription on Day 2: Latest GMP Insights and Essential Details Revealed!
The IPO of Bagmane Prime Office REIT has successfully entered its second day of bidding, garnering significant interest with 83% of the issue already subscribed, against 14.79 crore units available. The Bengaluru-centric office REIT is aiming to raise Rs 3,405 crore, and institutional investors have shown strong engagement, subscribing to 77% of their allocated 8.06 crore units, while non-institutional investors have subscribed to an impressive 91% of their 6.72 crore units. The REIT has set a price band of Rs 95-100 per unit, and the public offering will remain open for subscriptions until May 7, with a tentative listing date on the BSE and NSE scheduled for May 15.
In the grey market, Bagmane Prime Office REIT is currently trading at a premium of 4.5% or Rs 4.5 over its upper price band, indicating an expected listing price of Rs 104.5. This positive market sentiment reflects investor confidence in the REIT’s potential for solid returns, given that it is backed by high-quality commercial assets in prime locations of Bengaluru. The REIT’s robust tenant base, comprising industry leaders such as Google and Amazon, further strengthens its appeal, as these firms provide stable, long-term lease income, adding to the possibility of solid investment returns.
For Indian investors, the Bagmane Prime Office REIT presents an opportunity to gain exposure to a well-established and growing segment of the real estate market. Expected to yield around 6.2% in FY27, increasing to 7.5% by FY30, this REIT is poised to generate consistent cash flows and appreciation opportunities. As Bagmane becomes India’s sixth listed REIT, it not only diversifies the investment landscape but also indicates a strengthening trend in institutional and retail participation in the Indian real estate investment trust segment, marking a significant milestone in the country’s financial market evolution.
Source: The Economic Times
(Expert Note: This report was prepared by the Wealthova IPO team.)