Bagmane Prime Office REIT Sets Sights on Rs 4,000 Crore IPO

Bagmane Prime Office REIT, supported by the Bagmane Group, has filed for an IPO aiming to raise up to Rs 4,000 crore. The proceeds will aid acquisitions and expansions within its extensive portfolio of commercial properties, emphasizing the strong post-pandemic demand for office spaces.

Bagmane Prime Office REIT, backed by the Bengaluru-based Bagmane Group, is taking significant steps towards an Initial Public Offering (IPO) with the aim of raising up to Rs 4,000 crore. The draft paper has been submitted to the market regulator, indicating a strategic move in the real estate investment sector.

Characterized as a Real Estate Investment Trust, Bagmane Prime offers investors opportunities to gain from income-producing real estate without direct property ownership. With this IPO, up to Rs 3,000 crore will come from freshly issued units, with an additional Rs 1,000 crore from an Offer For Sale (OFS). The proceeds are planned for acquisitions, including a major tech park and a substantial business park stake.

This planned offering comes amidst a surge in office space demand post-pandemic, with developers keen to capitalize on the trend. Bagmane's extensive portfolio, boasting high occupancy and a vast Gross Asset Value, positions it strongly in a competitive market with existing players like Blackstone among its stakeholders.

(With inputs from agencies.)