Blackstone-backed office REIT bets big on Bengaluru’s premium commercial real estate.

Bagmane Prime Office REIT to Launch ₹3,405-Crore IPO on May 5.

Bagmane Prime Office REIT, backed by global investment giant Blackstone, is set to launch its ₹3,405-crore initial public offering (IPO) on May 5, with the issue closing on May 7. Anchor investor bidding will open on May 4. The IPO comprises a fresh issue of units worth up to ₹2,390 crore and an offer-for-sale (OFS) of units totalling ₹1,015 crore. Proceeds will be used to acquire Luxor at Bagmane Capital Tech Park and to part-fund the purchase of a 93% stake in Bagmane Rio Business Park. The Bengaluru-based REIT owns six Grade A+ office parks spanning 20.3 million sq ft across prime micro-markets such as ORR and the Secondary Business District. As of December 31, 2025, it reported a robust committed occupancy of 98.8%, with marquee tenants including Google, Amazon, Nvidia and Samsung. India currently has five listed REITs, largely focused on office assets, reflecting growing investor interest in income-generating commercial real estate.