After some calm in the primary market, next week investors will have a chance to keep an eye on the public issue worth about Rs 3,491 crore. The Rs 3,405 crore Bagmane Prime Office REIT will be the most important issue in this week’s calendar, while two small SME issues will test the risk appetite of investors in the broader market. Overall, the issuing companies are trying to raise about Rs 3,491 crore through three public offers opening between May 4 and May 7. Institutional and retail investors are expected to primarily focus on the mainboard REIT issue, which will be one of the largest primary market issues of 2026 so far.
Bagmane Prime Office REIT
Subscription of Bagmane Prime Office REIT will open on 5th May and close on 7th May. The aim of this issue is to raise a total of Rs 3,405 crore through a fresh issue of Rs 2,390 crore and an ‘Offer for Sale’ (OFS) of Rs 1,015 crore. Its price band has been fixed at Rs 95-100 per unit.
Bagmane Prime Office REIT offers investors an opportunity to invest in premium commercial office properties in Bengaluru. Bengaluru is one of the largest office leasing markets in India. Its portfolio includes six ‘Grade A+’ business parks spread over 20.3 million square feet. By June 2025, 97.9 percent of the space in these parks has already been given on rent.
The most important thing about this issue is the list of its tenants. This includes well-known companies from all over the world like Google, Amazon and Nvidia. This shows how much premium office properties are in demand from multinational technology companies. This REIT is sponsored by Bengaluru-based Bagmane Group. This group is one of the largest commercial office developers in the country. From a financial perspective, the trust earned ‘Profit After Tax’ (PAT) of Rs 829 crore in the nine months ending December 2025, while its total income stood at Rs 1,960 crore.
A large part of the proceeds from this issue will be used to purchase exclusive office properties under the umbrella of Bagmane Group. This will further strengthen the stability of the trust’s rental income.
This issue has come at a time when amid fluctuations in the stock market, investors are looking for listed products from which they can get regular income. Experts believe that if its price remains attractive, then the participation of institutional investors in it can also be quite good.
SME segment
In the SME segment, the IPO of Value 360 Communications will open on May 4 and close on May 6. The company is planning to raise Rs 41.7 crore through its NSE SME issue, priced at Rs 95-98 per share. The company works in the field of Public Relations, Investor Communications and Strategic Brand Advisory. After this, the IPO of Recode Studios will come, which will open on May 5 and close on May 7. The company wants to raise Rs 44.6 crore through its BSE SME issue, the price band of which is Rs 150-158 per share. Collectively, these two SME issues will raise just over Rs 86 crore, which is a small part of the total fundraising this week.
