New Delhi, May 5 -- The initial public offering (IPO) of Bagmane Prime Office REIT, which owns and operates a premium-grade office portfolio in Bengaluru, has opened for bidding today, 5 May. The offer will close later this week on Thursday, 7 May.

Bagmane Prime Office REIT IPO price band has been fixed at Rs.95 to Rs.100 per share. The offer, worth Rs.3,405 crore at the upper end of the range, consists of a fresh share sale of Rs.2,390 and an offer for sale of Rs.1,015 crore.

The company plans to use the funds from the fresh proceeds raised for funding acquisition and general corporate purposes. Investors can apply for a lot of 150 shares and multiples thereof.

The offer has received a tepid response from investors so far, booked just...