Bagmane Prime Office REIT Discloses Unitholding Pattern One Day Prior to Listing
Bagmane Prime Office REIT filed its pre-listing unitholding pattern with the NSE on May 15, 2026, one day ahead of its listing. The sponsor and sponsor group hold 2,81,55,34,147 units amounting to 82.81% of the total, with no units pledged or encumbered. Public unitholders account for 58,44,65,853 units or 17.19%, comprising institutional investors at 10.98% and non-institutional investors at 6.21%. Total outstanding units stand at 3,40,00,00,000.

*this image is generated using AI for illustrative purposes only.
Bagmane Prime Office REIT, through its Investment Manager Bagmane Realty Investment Manager Private Limited, submitted its unitholding pattern to the National Stock Exchange of India Limited on May 15, 2026, one day prior to its scheduled listing. The filing was made pursuant to the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, and was signed by Venkatesh Ranganath P, Company Secretary and Compliance Officer.
Sponsor and Sponsor Group Unitholding
The sponsor and sponsor group together hold a dominant share of the REIT's total outstanding units. Indian entities within the sponsor group account for the entirety of this holding, with no foreign sponsor participation recorded. Notably, none of the units held by the sponsor group are pledged or otherwise encumbered.
The breakdown of the sponsor group's Indian holdings is as follows:
| Category: | No. of Units Held | As a % of Total Outstanding Units | Mandatorily Held (%) | Pledged (%) |
|---|---|---|---|---|
| Individuals / HUF | 24,61,742 | 0.07 | 100.00 | 0.00 |
| Bodies Corporates | 2,81,30,72,405 | 82.74 | 100.00 | 0.00 |
| Sub-Total (A)(1) – Indian | 2,81,55,34,147 | 82.81 | 100.00 | 0.00 |
| Sub-Total (A)(2) – Foreign | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Sponsor & Sponsor Group (A) | 2,81,55,34,147 | 82.81 | 100.00 | 0.00 |
Public Unitholding
Public unitholders collectively hold 58,44,65,853 units, representing 17.19% of the total outstanding units. This public holding is divided between institutional and non-institutional investors.
Institutional Investors (Sub-Total B1)
Institutional investors account for 37,32,72,696 units, or 10.98% of total outstanding units. The institutional category includes a diverse mix of investor types:
| Investor Type: | No. of Units Held | As a % of Total Outstanding Units |
|---|---|---|
| Mutual Funds | 5,41,98,424 | 1.59 |
| Financial Institutions / Banks | 1,20,66,037 | 0.35 |
| Insurance Companies | 5,92,34,219 | 1.74 |
| Provident / Pension Funds | 2,65,74,494 | 0.78 |
| Foreign Portfolio Investors | 2,29,89,386 | 0.68 |
| Bodies Corporates (Foreign Body) | 10,79,65,854 | 3.18 |
| Alternative Investment Fund | 9,02,44,282 | 2.65 |
| Sub-Total (B)(1) – Institutions | 37,32,72,696 | 10.98 |
Non-Institutional Investors (Sub-Total B2)
Non-institutional public unitholders hold 21,11,93,157 units, representing 6.21% of total outstanding units. The composition of this segment is detailed below:
| Investor Type: | No. of Units Held | As a % of Total Outstanding Units |
|---|---|---|
| Individuals | 11,39,65,453 | 3.35 |
| Bodies Corporates | 9,10,56,675 | 2.68 |
| NBFCs registered with RBI | 45,56,125 | 0.13 |
| Non Resident Indians | 11,20,734 | 0.03 |
| Clearing Members | 4,43,792 | 0.01 |
| Trusts | 50,378 | 0.00 |
| Sub-Total (B)(2) – Non-Institutions | 21,11,93,157 | 6.21 |
Total Units Outstanding
The aggregate unitholding across all categories is summarised below:
| Category: | No. of Units Held | As a % of Total Outstanding Units |
|---|---|---|
| Sponsor & Sponsor Group (A) | 2,81,55,34,147 | 82.81 |
| Public Holding – Institutions (B1) | 37,32,72,696 | 10.98 |
| Public Holding – Non-Institutions (B2) | 21,11,93,157 | 6.21 |
| Total Public Holding (B) | 58,44,65,853 | 17.19 |
| Total Units Outstanding (C) = (A)+(B) | 3,40,00,00,000 | 100.00 |
The unitholding pattern was submitted on behalf of Bagmane Prime Office REIT by Venkatesh Ranganath P, Company Secretary and Compliance Officer of Bagmane Realty Investment Manager Private Limited, headquartered at 5th floor, B Block, Bagmane Tech Park, C. V. Raman Nagar, Bangalore.
How might Bagmane Prime Office REIT's high sponsor concentration of 82.81% impact secondary market liquidity and price discovery after its NSE listing?
Will SEBI's minimum public unitholding requirements necessitate the sponsor group to dilute its stake over time, and what could be the timeline and mechanism for such dilution?
How could the relatively modest foreign portfolio investor participation of 0.68% evolve as the REIT establishes its post-listing track record, and what factors might attract greater foreign institutional interest?

























