India’s real estate sector witnessed several high-profile public listings in the past year, with office REITs and property developers drawing strong i…
1/6Sri Lotus Developers and Realty: Mumbai-based Sri Lotus Developers and Realty emerged as the standout IPO of 2026, attracting the highest investor demand with a 74.1x subscription. The stock also delivered the strongest listing gain of 24%, debuting with a market capitalisation of ₹9,110 crore against a valuation of ₹6,700 crore.
2/6Bagmane Prime Office REIT: Bagmane Prime Office REIT recorded the second-highest subscription at 22.8x. The Bengaluru-based office REIT listed with a modest 4% gain and commanded a market capitalisation of ₹35,230 crore on listing day, broadly in line with its ₹35,200 crore valuation.
3/6Smartworks Coworking Spaces: Gurugram-headquartered Smartworks Coworking Spaces attracted strong investor interest with a 13.5x subscription. The co-working company delivered a 7% listing gain and debuted with a market capitalisation of ₹4,977 crore, close to its ₹5,000 crore valuation on the cut-off date.
4/6Indicate Spaces: Bengaluru-based Indiqube Spaces was subscribed 13 times during its IPO. However, it was the only major listing among the group to post a negative debut, ending 9% below its issue price despite a listing-day market capitalisation of ₹4,400 crore versus a ₹3,400 crore valuation.
5/6Knowledge Realty Trust: Knowledge Realty Trust debuted as the largest IPO by market capitalisation in the group. The Mumbai-based REIT listed with a market capitalisation of ₹44,344 crore after a 12.5x subscription, while its valuation on the cut-off date stood at ₹51,500 crore.
6/6WeWork India Management: WeWork India Management saw the weakest investor response among the six IPOs, with a subscription of 1.2x. The Bengaluru-based co-working company listed flat, recording no listing gain, while debuting with a market capitalisation of ₹8,665 crore against a ₹8,100 crore valuation. (Image: Reuters)
