Bookbuilding IPO | ₹105 Cr | Listed at BSE SME | Tue, Dec 23, 2025 - Fri, Dec 26, 2025
Bai Kakaji Polymers IPO is a book build issue of ₹105.17 crores. The issue is entirely a fresh issue of 0.57 crore shares of ₹105.17 crore.
Bai Kakaji Polymers IPO bidding started from Dec 23, 2025 and ended on Dec 26, 2025. The allotment for Bai Kakaji Polymers IPO was finalized on Dec 29, 2025. The shares got listed on BSE SME on Dec 31, 2025.
Bai Kakaji Polymers IPO price band is set at ₹186 per share. The lot size for an application is 600. The minimum amount of investment required by an individual investor (retail) is ₹2,23,200 (1,200 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (1,800 shares), amounting to ₹3,34,800.
Hem Securities Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Hem Finlease Pvt.Ltd..
Refer to Bai Kakaji Polymers IPO RHP for detailed Information.
IPO Open
Tue, Dec 23, 2025
IPO Close
Fri, Dec 26, 2025
Issue Price
₹186 per share
Market Cap (Pre-IPO)
₹398.12 Cr
| IPO Date | 23 to 26 Dec, 2025 |
| Listed on | Wed, Dec 31, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹177 to ₹186 |
| Issue Price | ₹186 per share |
| Lot Size | 600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 56,54,400 shares (agg. up to ₹105 Cr) |
| Reserved for Market Maker | 2,83,200 shares Hem Finlease Pvt.Ltd. (agg. up to ₹5 Cr) |
| Fresh Issue (Ex Market Maker) | 53,71,200 shares (agg. up to ₹100 Cr) |
| Net Offered to Public | 53,71,200 shares (agg. up to ₹100 Cr) |
| Share Holding Pre Issue | 1,57,50,000 shares |
| Share Holding Post Issue | 2,14,04,400 shares |
| BSE Script Code | 544670 |
| ISIN | INE1IJQ01026 |
Bai Kakaji Polymers IPO comprises a total issue size of 56,54,400 shares. The net offer to the public is 53,71,200 shares, after excluding 2,83,200 shares allotted on a firm basis. Of the Net offer 26,83,200 (49.96%) are allocated to QIB, 8,06,400 (15.01%) allocated to NII 18,81,600 (35.03%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 26,83,200 | 49.96% | 47.45% |
| − Anchor Investor Shares Offered | 16,08,000 | 28.44% | |
| − QIB (Ex. Anchor) Shares Offered | 10,75,200 | 19.02% | |
| NII (HNI) Shares Offered | 8,06,400 | 15.01% | 14.26% |
| − bNII > ₹10L | 5,37,600 | 9.51% | |
| − sNII < ₹10L | 2,68,800 | 4.75% | |
| Retail Shares Offered | 18,81,600 | 35.03% | 33.28% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,83,200 | 5.01% | |
| Total Shares Offered | 56,54,400 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples of 600 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 1,200 | ₹2,23,200 |
| Individual investors (Retail) (Max) | 2 | 1,200 | ₹2,23,200 |
| S-HNI (Min) | 3 | 1,800 | ₹3,34,800 |
| S-HNI (Max) | 8 | 4,800 | ₹8,92,800 |
| B-HNI (Min) | 9 | 5,400 | ₹10,04,400 |
Bai Kakaji Polymers IPO raises ₹29.91 crore from anchor investors. Bai Kakaji Polymers IPO Anchor bid date is December 22, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Dec 22, 2025 |
| Shares Offered | 16,08,000 |
| Anchor Portion (₹ Cr.) | 29.91 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Jan 29, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Mar 30, 2026 |
Bai Kakaji Polymers is an Indian company engaged in the manufacturing and trading of a wide range of plastic and polymer-based products. The company focuses on producing high-quality plastic granules i.e., PET preforms, Plastic caps and closures that cater to various industrial applications, particularly in packaged drinking water, carbonated beverages, juices & dairy products.
The company has four manufacturing units in Latur, Maharashtra across 33,000 square meters. It utilizes modern manufacturing techniques and machines like SACMI Continuous Compression Molding, ASB Preform Molding and HUSKY Pet Injection Molding machines, SST Secure Seal Tester (analogue & tester), Bridge strength tester, Vernier Calliper, etc.
Competitive Strength
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.
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 195.45 | 203.69 | 98.00 | 91.55 |
| Total Income | 168.56 | 332.12 | 296.42 | 275.09 |
| Profit After Tax | 12.81 | 18.37 | 9.38 | 4.18 |
| EBITDA | 24.35 | 33.51 | 20.75 | 14.17 |
| NET Worth | 66.55 | 53.74 | 35.37 | 25.99 |
| Reserves and Surplus | 50.80 | 51.49 | 33.12 | 23.74 |
| Total Borrowing | 107.25 | 109.27 | 40.71 | 45.59 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment and/or pre-payment, in full or part, of borrowing availed by our Company | 64.00 |
| 2 | Funding capital expenditure for the installation of additional plant & machinery | 9.85 |
| 3 | Funding capital expenditure for setting up a solar power project | 12.94 |
| 4 | General Corporate Purpose | 6.78 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 41.23% |
| ROCE | 25.71% |
| Debt/Equity | 2.03 |
| RoNW | 34.18% |
| PAT Margin | 5.64% |
| EBITDA Margin | 10.28% |
| Price to Book Value | 5.45 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 11.66 | 11.97 |
| P/E (x) | 15.95 | 15.54 |
| Promoter Holding | 100% | 73.55% |
| Market Cap | ₹398.12 Cr. |
The Bai Kakaji Polymers IPO is subscribed 5.71 times on December 26, 2025 6:19:37 PM (Day 3). The public issue subscribed 3.56 times in the individual investors category, 7.88 times in the QIB category, and 7.84 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB (Ex Anchor) | 7.88 | 10,75,200 | 84,71,400 | 0 |
| NII* | 7.84 | 8,06,400 | 63,20,400 | 0 |
| bNII (bids above ₹10L) | 9.27 | 5,37,600 | 49,82,400 | |
| sNII (bids below ₹10L) | 4.98 | 2,68,800 | 13,38,000 | |
| Individual Investor | 3.56 | 18,81,600 | 66,96,000 | 0 |
| Total | 5.71 | 37,63,200 | 2,14,87,800 | 7,209 |
Total Application : 7,209
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead manager(s) fees including underwriting commission | 1.71 |
| 2 | Fees Payable to Registrar to the Issue | 0.01 |
| 3 | Fees Payable to Advertising and Publishing expenses | 0.20 |
| 4 | Fees Payable to Regulators including Stock Exchanges | 0.15 |
| 5 | Payment for Printing & Stationery, Postage etc. | 0.02 |
| 6 | Fees Payable to Statutory Auditor, Legal Advisors and other professionals | 0.16 |
| 7 | Others (Fees payable for Marketing & Distribution expenses, Selling Commission, Brokerage, Processing fees and Miscellaneous expenses) | 9.35 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹186.00 |
| Open | ₹190.00 |
| Low | ₹180.50 |
| High | ₹192.00 |
| Last Trade | ₹188.20 |
Lead Manager Reports
Bai Kakaji Polymers IPO is a SME IPO of 56,54,400 equity shares of the face value of ₹10 aggregating up to ₹105 Crores. The issue is priced at ₹186 per share. The minimum order quantity is 600.
The IPO opens on Tue, Dec 23, 2025, and closes on Fri, Dec 26, 2025.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Bai Kakaji Polymers IPO using UPI as a payment gateway. Zerodha customers can apply in Bai Kakaji Polymers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Bai Kakaji Polymers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Bai Kakaji Polymers IPO opens on Tue, Dec 23, 2025 and closes on Fri, Dec 26, 2025.
Bai Kakaji Polymers IPO lot size is 600, and the minimum amount required for application is ₹2,23,200, with 2 lots being the minimum application size.
You can apply in Bai Kakaji Polymers IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Bai Kakaji Polymers IPO will be done on Monday, December 29, 2025, and the allotted shares will be credited to your demat account by Tue, Dec 30, 2025. Check the Bai Kakaji Polymers IPO allotment status.
The Bai Kakaji Polymers IPO listing date is on Wed, Dec 31, 2025.
