Bagmane Prime Office REIT's Successful Market Debut: A 4% Premium Rise

Bagmane Prime Office REIT, supported by Blackstone, concluded Thursday's trading session with a notable premium, ending nearly 4% higher than its initial issue price of Rs 100.

Launching at Rs 103.40 on the BSE, the REIT experienced a 3.4% rise, with prices soaring to Rs 104.48 during trading hours. It ultimately closed at Rs 103.66, marking a 3.66% gain. On the NSE, units listed at Rs 103.50, finishing the day at Rs 103.54, up 3.54%.

The REIT's IPO, valued at Rs 3,405 crore, attracted robust investor interest, being subscribed 23.71 times by its May 7 bidding deadline, with over 2 lakh applications surpassing prior REIT endeavors. Bagmane Prime's portfolio includes six premium Grade A+ business parks in Bengaluru's key areas.