Bagmane Prime Office REIT's Stellar Market Debut: A REIT Revolution

Bagmane Prime Office REIT, backed by Blackstone, marked its entry into the stock market with an impressive start. The units listed on the NSE opened at Rs 103.50, registering a 3.5% premium over the Rs 100 issue price. Eventually, it settled at Rs 103.10. On BSE, the debut price was Rs 103.40, marking a 3.4% increase.

The REIT's IPO was a resounding success, garnering 23.71 times subscription on its closing day, May 7. The offering attracted over 2 lakh applications, outpacing previous REIT issues. It raised approximately Rs 1,150 crore from anchor investors. The price band was set between Rs 95-100 per unit.

This Bengaluru-based REIT boasts six premier Grade A+ business parks across 20.3 million square feet. Bagmane stands alongside five listed REITs in India, emphasizing its premium business parks as its unique selling proposition.

(With inputs from agencies.)