Bagmane REIT Subscribed 24.96 Times on Day 3

Bagmane Prime Office REIT's initial public offering closed its three-day subscription window with exceptional investor interest, reaching 24.96 times overall subscription by 4:54 PM on Day 3 (May 7, 2026). The ₹3,405 crore book-build REIT issue, priced at ₹95 to ₹100 per unit, received bids for 3,50,70,78,450 units against 14,05,24,950 units on offer, with total applications reaching 2,00,868.

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Subscription Status of Bagmane REIT

Here are the subscription details for Bagmane Prime Office REIT Day 3, as of 5:04 PM:

Key Highlights – Day 3

• Overall subscription surged to 24.96 times on the final day, from Day 2's 2.23 times, driven by a sharp last-day surge across both investor categories.
• Qualified institutional buyers (ex-anchor) led at 26.58 times, surging from Day 2's 0.90 times, indicating heavy institutional interest concentrated on the closing day of this Bengaluru commercial office REIT.
• Non-institutional investors recorded strong participation at 22.81 times, surging from Day 2's 3.83 times.
• Anchor investors fully subscribed their allocation of 11,49,74,850 units at ₹100 per unit on May 4, 2026.

Key Highlights – Day 2

• Overall subscription crossed full subscription at 2.16 times, surging from Day 1's 0.71 times, driven by a sharp increase in NII demand on Day 2.
• Non-institutional investors crossed full subscription strongly at 3.67 times, surging from Day 1's 0.74 times, reflecting strong HNI interest in this Bengaluru commercial office REIT.
• Qualified institutional buyers (ex-anchor) improved to 0.90 times from Day 1's 0.69 times, approaching full subscription heading into the final day.
• Anchor investors fully subscribed their allocation of 11,49,74,850 units at ₹100 per unit on May 4, 2026.

Key Highlights - Day 1

• Overall subscription reached 0.67 times on Day 1 (May 5, 2026), reflecting moderate initial investor interest in this commercial office REIT issue.
• Qualified institutional buyers (ex-anchor) showed the stronger opening participation at 0.69 times on Day 1.
• Non-institutional investors recorded 0.64 times on Day 1, indicating broad-based HNI interest in this Bengaluru-focused Grade A+ office REIT.
• Anchor investors fully subscribed their allocation of 11,49,74,850 units at ₹100 per unit on May 4, 2026.

About Bagmane Prime Office REIT

Bagmane Prime Office REIT is a commercial office real estate investment trust focused on owning and managing premium Grade A+ business parks in Bengaluru. As of June 30, 2025, its portfolio comprised six Grade A+ business parks with a total area of 20.3 million sq. ft., leasable area of 19.6 million sq. ft., and committed occupancy of 97.9%. The REIT's tenant base includes global companies such as Google, Amazon, and Nvidia, among other multinational corporations. It is sponsored by the Bagmane Group, a Bengaluru-based Grade A+ office developer with a significant development pipeline across multiple cities in India.