The initial public offering (IPO) of Blackstone-backed Bagmane Prime Office REIT has received a decent response from investors and has seen a 71 per cent subscription so far. According to the data available on the National Stock Exchange (NSE), the IPO received bids for 10,55,39,250 units against 14,79,21,000 units on offer. The category for other investors fetched 74 per cent subscription, while the portion for institutional investors got subscribed 69 per cent. Ahead of the public issue, the company secured about Rs 1,150 crore from anchor investors. The three-day subscription window for the Rs 3,405-crore public issue, which opened on March 5, will conclude on May 7.
Bagmane Prime Office REIT IPO Price Band
The price band for the public issue of Bengaluru-based real estate investment trust (REIT), which owns and develops Grade A+ office assets, has been fixed at Rs 95-100 per unit.
The IPO has a fresh issue of units aggregating up to Rs 2,390 crore and an offer for sale (OFS) of units worth up to Rs 1,015 crore by the selling unitholder.
Bagmane Prime Office REIT IPO GMP Today
According to Investorgain, Bagmane Prime Office REIT’s unlisted shares are trading at a grey market premium (GMP) of Rs 4.5. Considering the upper price band of Rs 100, the company’s shares are expected to list at around Rs 104.5, reflecting a grey market premium of 4.5 per cent.
Bagmane Prime Office REIT IPO Important Dates
According to the available information, the basis of allotment is expected to be finalised on May 12. Also, refunds and credits for units are slated for around May 13. The shares are expected to be listed on the BSE and NSE on May 15.
The book running lead managers to the issue are JM Financial, Kotak Mahindra Capital Company, Axis Capital, IIFL Capital Services, SBI Capital Markets, 360 ONE WAM and HDFC Bank.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
