Bagmane Prime Office REIT's Mega IPO Attracts Anchor Investors

The Blackstone-backed Bagmane Prime Office REIT has secured around Rs 1,150 crore from anchor investors for its Initial Public Offering (IPO). The Rs 3,405 crore public issue, which is open until May 7, involves both fresh issue and Offer For Sale (OFS) of units. The proceeds will be used for acquisitions in Bengaluru's top business areas.

The Blackstone-supported Bagmane Prime Office REIT has successfully raised approximately Rs 1,150 crore from anchor investors, marking a significant moment as its Initial Public Offering (IPO) opens for subscription. The total public issue, valued at Rs 3,405 crore, is set to conclude on May 7.

Participation in the anchor book came from a dynamic range of institutional investors, including NPS Trust via SBI Pension Fund schemes, WhiteOak Capital funds, and various major mutual funds and financial institutions, as per a BSE circular. Interest was also noted from global entities such as Societe Generale.

The IPO consists of both a fresh issue and an Offer For Sale, aggregating Rs 2,390 crore and Rs 1,015 crore, respectively. The funds are intended for substantial acquisitions in Bengaluru's prime business parks. The listing on BSE and NSE is expected by May 15.