Bagmane Prime Office REIT listed on the National Stock Exchange of India on Thursday at a premium to its initial public offering price [1].
The debut reflects strong investor appetite for commercial real estate assets in India, particularly those backed by high-profile investors like Blackstone and Jhunjhunwala [2].
Trading began on the Mumbai-based platform with listing prices reported between Rs 103.40 [3] and Rs 103.50 per unit [2]. This represents a premium over the IPO price of approximately 3.4% [3] to 3.5% [2].
The listing follows an IPO with a total size of Rs 3,405 crore [4]. During the offering period, the price band was set between Rs 95 and Rs 100 per unit [4].
Demand for the units was significant prior to the listing. The IPO was subscribed nearly 25 times the offer size [5], signaling a robust interest from both institutional and retail investors in the REIT's portfolio of office properties.
While some early reports indicated a higher listing price of Rs 1,030.5 per unit, verified data from the trading platform and news reports place the figure closer to Rs 103.50 [2].
“The IPO was subscribed nearly 25 times the offer size”
The successful listing of Bagmane Prime Office REIT underscores a growing trend of institutionalizing commercial real estate in India. By converting physical office assets into liquid, tradable units on the NSE, the REIT provides a pathway for smaller investors to gain exposure to high-grade commercial property. The high subscription rate and immediate listing premium suggest that market confidence in the stability of office rentals remains high, despite global shifts toward remote work.
