Bagmane Prime Office REIT

Bagmane Prime Office REIT has been settled by the Sponsor for the Initial Contribution on May 30, 2025 at Bengaluru, Karnataka, India as a contributory, determinate and irrevocable trust under the provisions of the Indian Trusts Act, 1882, pursuant to a trust deed dated May 30, 2025. The Bagmane REIT was registered with SEBI on July 15, 2025 at Mumbai, Maharashtra, India as a real estate investment trust, pursuant to the REIT Regulations. Presently, the Trust own and manage premium Grade A+ business parks located in the world's best performing micro-markets in Bengaluru, the 'Silicon Valley' of India. Trust has almost 3 decades of experience in operating, developing, leasing and managing large format commercial real estate in Bengaluru, with a pipeline across Bengaluru, Delhi and Chennai. Sponsor is one of the pioneers in commercial real estate development in Bengaluru, contributing to the city's transformation into a global business hub, focused on location, quality and tenant relationships. Since the inception of its real estate business in 1999, the Bagmane Group has delivered over 27.7 msf across 7 commercial real estate projects in Bengaluru, representing approximately 12.3% of Bengaluru's total Grade A office stock as of June 30, 2025 with another 7.1 msf under development, as of June 30, 2025. Starting in 2002 with 0.3 msf at Bagmane Tech Park in Secondary Business District (SBD City) which was completed in 2004, it established itself as one of the early pioneers in developing software technology parks in Bengaluru and commenced construction at Outer Ring Road (ORR) in 2008. It developed 6.0 msf by 2013, which nearly doubled to 11.4 msf by 2017. Since then, it expanded the developed portfolio by 2.4 times to 27.7 msf as of June 30, 2025. Thereafter, the Trust converted the Opal Building in Bagmane World Technology Centre mid-construction from an SEZ into a non-SEZ space to accommodate the leasing of a tenant of 0.7 msf in FY2023. It also undertook a swift floorwise conversion of SEZ to non-processing area at the Amber Building in Bagmane World Technology Centre to re-lease 63 ksf of vacant area in FY25. The Trust has filed a Draft Offer Document with SEBI and is planning to raise funds aggregating to Rs 4000 crore Units, comprising a fresh issue of Rs 3000 crore and the offer for sale of Rs 1000 crore Units through IPO.