IPO Calendar: Rs 3,491 crore up for grabs for investors as 3 issues to open next week

After a relatively quiet stretch in the primary market, investors will have nearly Rs 3,491 crore worth of public issues to track next week, with the calendar dominated by the Rs 3,405 crore Bagmane Prime Office REIT, while two smaller SME offerings will test risk appetite in the broader market.

In total, issuers are looking to raise about Rs 3,491 crore across three public offers opening between May 4 and May 7, with institutional and retail investors expected to focus primarily on the mainboard REIT issue, which will also be among the largest primary market offerings of 2026 so far.

Bagmane Prime Office REIT

Bagmane Prime Office REIT will open for subscription on May 5 and close on May 7. The issue aims to raise Rs 3,405 crore through a combination of a fresh issue of Rs 2,390 crore and an offer for sale of Rs 1,015 crore, with a price band of Rs 95-100 per unit.

Bagmane Prime Office REIT offers investors exposure to premium commercial office assets in Bengaluru, one of India's largest office leasing markets. The portfolio includes six Grade A+ business parks spread across 20.3 million square feet, with a committed occupancy of 97.9% as of June 2025.

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What makes the issue stand out is its tenant roster, which includes global names such as Google, Amazon, and Nvidia, reflecting the strong demand for premium office assets from multinational technology companies.

The REIT is sponsored by Bengaluru-based Bagmane Group, one of the country’s major commercial office developers. Financially, the trust reported profit after tax of Rs 829 crore for the nine months ended December 2025, with total income of Rs 1,960 crore.

A large part of the proceeds will be used to acquire strategic office assets within the Bagmane ecosystem, strengthening the trust's rental income visibility.

The issue also comes at a time when investors are increasingly looking at yield-focused listed products amid volatile equity markets, and analysts believe institutional participation could remain strong if pricing remains attractive.

SME segment

In the SME segment, the IPO of Value 360 Communications will open on May 4 and close on May 6. The company plans to raise Rs 41.7 crore through its NSE SME issue, priced at Rs 95-98 per share. The company operates in public relations, investor communications and strategic brand advisory.

This will be followed by Recode Studios, which opens on May 5 and closes on May 7. The company is looking to raise Rs 44.6 crore through its BSE SME issue, with a price band of Rs 150-158 per share.

Together, the two SME offerings will raise just over Rs 86 crore, a small fraction of the week's total fundraising.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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