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Bagmane Prime Office Trust files for USD 445 million IPO in India

#Taxation & Finance News#India
Last Updated : 31st Dec, 2025
Synopsis

Bagmane Prime Office REIT, a Bengaluru-based office real estate investment trust backed by a global private equity major, has filed draft papers for an initial public offering valued at about USD 445 million. The proposed listing comes amid improving demand for office spaces as companies increasingly scale back remote working models. The REIT owns and operates premium office assets and competes with several listed peers in India's commercial real estate space. The IPO will comprise a mix of fresh issuance and an offer for sale by existing investors. Strong tenant demand, anchored by global technology majors, underpins the trust's growth outlook.

Bagmane Prime Office REIT has filed draft documents to raise approximately USD 445.6 million through an initial public offering, marking another significant listing in India's growing commercial real estate investment trust segment.


Under the proposed structure, the REIT plans to issue fresh units worth INR 30 billion, while existing investors are expected to divest units valued at INR 10 billion through an offer for sale. Details of the selling entities were not disclosed in the filing.

Headquartered in Bengaluru, Bagmane Prime Office REIT owns and manages large-scale office developments and competes with other listed office REITs in India's public markets. Its tenant portfolio includes several multinational technology companies, providing stable rental income and long-term lease visibility.

The proposed IPO follows recent listings by other office and flexible workspace operators, reflecting renewed confidence in the office sector as corporates increasingly move away from fully remote work models.

For the financial year ended March 2025, the REIT reported a 7.5 per cent increase in revenue and nearly an 11 per cent rise in profit, highlighting steady operational performance ahead of the planned market debut.

Source - Reuters

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