Comparison between Airfloa Rail Technology IPO and Bai Kakaji Polymers IPO.
Airfloa Rail Technology IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Bai Kakaji Polymers IPO is a SME Bookbuilding proposed to list at BSE SME.
| Airfloa Rail Technology IPO | Bai Kakaji Polymers IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Bookbuilding |
| Listing At | BSE SME | BSE SME |
| Lead Managers | GYR Capital Advisors Pvt.Ltd. | Hem Securities Ltd. |
| Registrar | Kfin Technologies Ltd. | Maashitla Securities Pvt.Ltd. |
| Market Maker | Giriraj Stock Broking Pvt.Ltd. | Hem Finlease Pvt.Ltd. |
| DRHP | DRHP  | DRHP |
| RHP | RHP | RHP |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | Anchor Investor |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of Airfloa Rail Technology IPO is up to ₹86.53 Cr whereas the issue size of the Bai Kakaji Polymers IPO is up to ₹99.90 Cr. The final issue price of Airfloa Rail Technology IPO is ₹140.00 per share and of Bai Kakaji Polymers IPO is ₹186.00 per share.
| Airfloa Rail Technology IPO | Bai Kakaji Polymers IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹133.00 per share | ₹177.00 per share |
| Issue Price (Upper) | ₹140.00 per share | ₹186.00 per share |
| Issue Price (Final) | ₹140.00 per share | ₹186.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1000 shares | 600 shares |
| Fresh Issue Size | 61,81,000 shares | 53,71,200 shares |
| Fresh Issue Size (Amount) | up to ₹86.53 Cr | up to ₹99.90 Cr |
| OFS Issue Size | 0 shares | 0 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹0.00 Cr |
| Issue Size Total | 61,81,000 shares | 53,71,200 shares |
| Issue Size Total (Amount) | up to ₹86.53 Cr | up to ₹99.90 Cr |
Airfloa Rail Technology IPO opens on Sep 11, 2025, while Bai Kakaji Polymers IPO opens on Dec 23, 2025. The closing date of Airfloa Rail Technology IPO and Bai Kakaji Polymers IPO is Sep 15, 2025, and Dec 26, 2025, respectively.
| Airfloa Rail Technology IPO | Bai Kakaji Polymers IPO | |
|---|---|---|
| Anchor Bid Date | Sep 10, 2025 | Dec 22, 2025 |
| Issue Open | Sep 11, 2025 | Dec 23, 2025 |
| Issue Close | Sep 15, 2025 | Dec 26, 2025 |
| Basis Of Allotment (Tentative) | Sep 16, 2025 | Dec 29, 2025 |
| Initiation of Refunds (Tentative) | Sep 17, 2025 | Dec 30, 2025 |
| Credit of Share (Tentative) | Sep 17, 2025 | Dec 30, 2025 |
| Listing date (Tentative) | Sep 18, 2025 | Dec 31, 2025 |
| Anchor Lockin End date 1 | Oct 15, 2025 | Jan 29, 2026 |
| Anchor Lockin End date 2 | Dec 15, 2025 | Mar 30, 2026 |
Airfloa Rail Technology IPO P/E ratio is 9.57, as compared to Bai Kakaji Polymers IPO P/E ratio of 15.95.
| Airfloa Rail Technology IPO | Bai Kakaji Polymers IPO | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated Consolidated)
| Company Financials (Restated)Bai Kakaji Polymers Ltd.'s revenue increased by 12% and profit after tax (PAT) rose by 96% between the financial year ending with March 31, 2025 and March 31, 2024.
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Pre-Issue) | 74.4 | 100 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 54.2 | 73.55 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 9.57 | 15.95 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹335.58 Cr. | ₹398.12 Cr. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 30.64% | 41.23% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 26.28% | 25.71% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.54 | 2.03 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹14.63 | ₹11.66 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 23.06% | 34.18% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the Airfloa Rail Technology IPO Retail Individual Investors (RII) are offered 21,64,000 shares while in Bai Kakaji Polymers IPO retail investors are offered 21,64,000 shares. Qualified Institutional Buyers (QIB) are offered 12,35,000 shares in Airfloa Rail Technology IPO and 10,75,200 shares in Bai Kakaji Polymers IPO.
| Airfloa Rail Technology IPO | Bai Kakaji Polymers IPO | |
|---|---|---|
| Anchor Investor Reservation | 18,52,000 shares | 16,08,000 shares |
| Market Maker Reservation | 3,26,000 shares | 2,83,200 shares |
| QIB | 12,35,000 shares | 10,75,200 shares |
| NII | 9,30,000 shares | 8,06,400 shares |
| RII | 21,64,000 shares | 18,81,600 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 61,81,000 shares | 53,71,200 shares |
Airfloa Rail Technology IPO subscribed 301.52x in total, whereas Bai Kakaji Polymers IPO subscribed 5.71x.
| Airfloa Rail Technology IPO | Bai Kakaji Polymers IPO | |
|---|---|---|
| QIB (times) | 214.65x | 7.88x |
| NII (times) | 349.88x | 7.84x |
| Big NII (times) | 375.79x | 9.27x |
| Small NII (times) | 298.06x | 4.98x |
| RII (times) | 330.31x | 3.56x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 301.52x | 5.71x |
