Bai Kakaji Polymers IPO is a book build issue of 56,54,400 shares [₹105.17 crore]. The issue is a combination of a fresh issue of 56,54,400 shares [₹105.17 crore].
The Bai Kakaji Polymers IPO will open for subscription on December 23, 2025, and close on December 26, 2025. The price band for the IPO is fixed at ₹177 to ₹186 per share. The minimum application size is 2 lot [1,200 shares], requiring a retail investor to invest at least ₹2,23,200 [based on the upper price band].
Bai Kakaji Polymers IPO Details
| Open Date | December 23, 2025 |
| Close Date | December 26, 2025 |
| Issue Type | Book Built Issue |
| Face Value | ₹10 Equity Share |
| Price Band | ₹177 – ₹186 Per Share |
| Listing On | BSE, SME |
| Issue Size | ₹105.17 Cr. [56,54,400 Shares] |
| Fresh Issue | ₹105.17 Cr. [56,54,400 Shares] |
| Offer For Sale | Not Applicable |
| Prospectus | DRHP | RHP | Anchor Investors |
Bai Kakaji Polymers IPO Anchor Investors Details
| Anchor Bid Date | December 22, 2025 |
| Anchor Portion Size | ₹5.00 Cr. |
| Share Offered | 16,08,000 Shares |
| Anchor lock-in period end date for 50% shares [30 Days] | January 28, 2026 |
| Anchor lock-in period end date for remaining shares [90 Days] | March 29, 2026 |
Bai Kakaji Polymers IPO Reservation
| Category | Reservation | Shares Offered |
|---|---|---|
| QIB | 47.45% | 26,83,200 |
| NII | 14.26% | 8,06,400 |
| RII | 33.28% | 18,81,600 |
| Market Maker | 5.01% | 2,83,200 |
| Total | 100.00% | 56,54,400 |
Bai Kakaji Polymers IPO Market Lot
| Application | Lot | Shares | Amount |
| Retail Minimum | 2 | 1,200 | ₹2,23,200 |
| Retail Maximum | 2 | 1,200 | ₹2,23,200 |
| S-HNI Minimum | 3 | 1,800 | ₹3,34,800 |
| S-HNI Maximum | 8 | 4,800 | ₹8,92,800 |
| B- HNI Minimum | 9 | 5,400 | ₹10,04,400 |
Key Performance Indicator
| KPI [March 31, 2025] | Value |
| Market Capitalisation | ₹398.12 Cr. |
| P/E Ratio | 11.66x |
| EPS | ₹15.95 |
| ROE | 41.23% |
| ROCE | 25.71% |
| RoNW | 34.18% |
| Dept/Equity | 2.03 |
| EBITDA Margin | 10.28% |
| PAT Margin | 5.64% |
| Net Assets Value | ₹34.12 |
| Price To Book Value | ₹5.45 |
Bai Kakaji Polymers IPO Peer Comparison
| Company | P/E | EPS | RoNW | NAV |
| Cool Caps Industries Limited | 7.37x | ₹10.36 | 21.84% | ₹47.42 |
| Technopack Polymers Limited | 6.50x | ₹2.72 | 8.61% | ₹18.46 |
Bai Kakaji Polymers IPO Dates
| Open Date | December 23, 2025 |
| Close Date | December 26, 2025 |
| Allotment Date | December 29, 2025 |
| Refund Date | December 30, 2025 |
| Share Credit Date | December 30, 2025 |
| Listing Date | December 31, 2025 |
Bai Kakaji Polymers Company Financial Report [Restated]
| Years | Total Assets | Total Income | Total Expenses | Net Worth | Profit After Tax | EBITDA | Reserves And Surplus | Total Borrow |
|---|---|---|---|---|---|---|---|---|
| September 2025 | ₹195.45 Cr. | ₹168.56 Cr. | ₹ Cr. | ₹66.55 Cr. | ₹12.81 Cr. | ₹24.35 Cr. | ₹50.80 Cr. | ₹107.25 Cr. |
| March 2025 | ₹203.69 Cr. | ₹332.12 Cr. | ₹ Cr. | ₹53.74 Cr. | ₹18.37 Cr. | ₹33.51 Cr. | ₹51.49 Cr. | ₹109.27 Cr. |
| March 2024 | ₹98.00 Cr. | ₹296.42 Cr. | ₹ Cr. | ₹35.37 Cr. | ₹9.38 Cr. | ₹20.75 Cr. | ₹33.12 Cr. | ₹40.71 Cr. |
| March 2023 | ₹91.55 Cr. | ₹275.09 Cr. | ₹ Cr. | ₹25.99 Cr. | ₹4.19 Cr. | ₹14.17 Cr. | ₹23.74 Cr. | ₹45.59 Cr. |
Company Promoters
- Balkishan Pandurangji Mundada
- Harikishan Pandurangji Mundada
- Akash Balkishan Mundada
- Akshay Balkishan Mundada
- Kiran Balkishan Mundada
| Holding Pre Issue | 100.00% | 1,57,50,000 Shares |
| Holding Post Issue | 73.55% | 2,14,04,400 Shares |
Lead Managers
- Hem Securities Limited
Registrar
Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: investor.ipo@maashitla.com
Website: https://maashitla.com/
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About Bai Kakaji Polymers Limited
Bai Kakaji Polymers is an Indian company engaged in the manufacturing and trading of plastic and polymer-based products. The company specializes in producing high-quality plastic granules, PET preforms, plastic caps, and closures. These products are widely used in industries such as packaged drinking water, carbonated beverages, juices, and dairy products.
The company operates four manufacturing units located in Latur, Maharashtra, spread across a total area of approximately 33,000 square meters. These facilities enable the company to carry out large-scale production while maintaining consistent quality standards.
Bai Kakaji Polymers employs modern manufacturing technologies to ensure efficiency and product reliability. Its machinery includes SACMI Continuous Compression Molding systems, ASB Preform Molding machines, and HUSKY PET Injection Molding machines. In addition, the company uses advanced quality-testing equipment such as SST Secure Seal Testers, bridge strength testers, and Vernier calipers to maintain strict quality control.
The company has established a strong presence in the domestic market, supported by a widespread distribution network. This allows it to serve a diverse customer base across multiple industries efficiently.
The key competitive strengths of Bai Kakaji Polymers include its in-house manufacturing capabilities, experienced promoters and management team, stable and consistent financial performance, and long-standing relationships with customers. These strengths position the company as a reliable player in the plastic packaging industry.
Objects Of The Issue
- Repayment and/or pre-payment, in full or part, of borrowing availed by our Company (₹64.00 Cr.)
- Funding capital expenditure for the installation of additional plant & machinery (₹9.85 Cr.)
- Funding capital expenditure for setting up a solar power project (₹12.04 Cr.)
- General Corporate Purpose
Company Address
Bai Kakaji Polymers Limited
Plot No. M3 & M4 MIDC, Latur,
Maharashtra, India, 413531
E-mail: cs@baikakaji.com
Phone: +91 9028254663
Website: https://baikakajipolymers.com
Bai Kakaji Polymers IPO FAQs
What is Bai Kakaji Polymers IPO?
Bai Kakaji Polymers IPO is a SME IPO of 56,54,400 equity shares of the face value of ₹10 aggregating up to ₹105.17 Crores. The IPO issue priced at ₹177 to ₹186 per share.
What are the open and close dates of the Bai Kakaji Polymers IPO?
The IPO will open on December 23, 2025 and will close on December 26, 2025.
What is the price band for Bai Kakaji Polymers IPO?
The price band for the IPO is fixed at ₹177 to ₹186 per share.
What is the issue size of the Bai Kakaji Polymers IPO?
The total issue size of the IPO is ₹105.17 Cr., comprising both fresh issue and offer for sale (if applicable).
What is Bai Kakaji Polymers IPO Minimum and Maximum Lot Size?
The minimum and maximum bid is 2 Lot, 1,200 Shares with ₹2,23,200 for the IPO.
What is Bai Kakaji Polymers IPO Investors Portion?
The investors portion for QIB 50%, NII 15%, RII 35% for the IPO.
When will the basis of allotment for the Bai Kakaji Polymers IPO be finalized?
The the IPO allotment is expected to be finalized on December 29, 2025.
When will the shares of Bai Kakaji Polymers IPO get listed?
The IPO shares are expected to be listed on the BSE and SME on December 31, 2025.
Is the Bai Kakaji Polymers IPO a good investment?
Investment decisions depend on an individual’s financial goals and risk profile. It is advised to consult with a SEBI-registered financial advisor before making any investment decision.
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Disclaimer: Readers are strongly advised to seek guidance from a qualified financial advisor before making any investment decisions. Relying solely on the content presented here for financial choices is done entirely at the reader’s own risk.
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