Bai Kakaji Polymers IPO Details, GMP, Review & Subscription Status
26 December 2025 ·
A Detailed Review of Bai Kakaji Polymers Ltd IPO on BSE SME
Introduction to Bai Kakaji Polymers IPO
The Bai Kakaji Polymers IPO is a book-built SME public issue that has attracted investor attention due to the company’s strong presence in polymer-based packaging products and its consistent financial performance. Operating in a sector closely linked to packaged food, beverages, and dairy consumption, Bai Kakaji Polymers Limited benefits from steady demand and long-term growth visibility.
The IPO is entirely a fresh issue, meaning the proceeds will directly support business expansion and operational strengthening.
Bai Kakaji Polymers IPO Key Details
| Particulars | Details |
|---|---|
| IPO Type | Book Building IPO |
| Listing Exchange | BSE SME |
| Issue Size | ₹105.17 Crore |
| Fresh Issue | 56,54,400 Shares |
| Face Value | ₹10 per Share |
| Price Band | ₹177 to ₹186 |
| Market Maker | Hem Finlease Pvt. Ltd. |
Bai Kakaji Polymers IPO Important Dates
| Event | Date |
|---|---|
| IPO Opens | 23 December 2025 |
| IPO Closes | 26 December 2025 |
| Allotment Date | 29 December 2025 |
| Refund Initiation | 30 December 2025 |
| Credit of Shares | 30 December 2025 |
| Listing Date | 31 December 2025 |
Bai Kakaji Polymers IPO Price Band and Lot Size
| Category | Lots | 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 |
Bai Kakaji Polymers IPO GMP Today
The Bai Kakaji Polymers IPO GMP (Grey Market Premium) indicates the premium or discount at which shares trade unofficially before listing. GMP trends help gauge short-term listing expectations but can be volatile and sentiment-driven.
Investors should track Bai Kakaji Polymers IPO GMP today along with subscription data rather than relying on GMP alone.
Bai Kakaji Polymers IPO Subscription Status
The IPO subscription status reflects investor demand across retail, HNI, and institutional categories. Strong subscription levels often indicate positive market sentiment, while muted demand may suggest cautious investor outlook.
Final subscription figures are published after market hours on each bidding day.
About Bai Kakaji Polymers Ltd
Bai Kakaji Polymers Limited is an Indian manufacturer and trader of polymer-based products, primarily serving the packaged drinking water, carbonated beverages, juices, and dairy industries. The company focuses on producing PET preforms, plastic caps, and closures, which are critical components in beverage packaging.
The company operates four manufacturing units in Latur, Maharashtra, spread across 33,000 square meters, enabling scalable and efficient production.
Product Portfolio and Manufacturing Capabilities
Bai Kakaji Polymers uses advanced machinery such as:
SACMI Continuous Compression Molding
ASB Preform Molding Machines
HUSKY PET Injection Molding
Secure Seal Testers and Bridge Strength Testers
This technological capability ensures product consistency, quality control, and compliance with industry standards.
Competitive Strengths of Bai Kakaji Polymers
Key strengths include:
In-house manufacturing facilities
Strong domestic distribution network
Long-standing customer relationships
Experienced promoters and management team
Stable and improving financial performance
These factors enhance the company’s competitive positioning in the polymer packaging segment.
Industry Overview and Growth Outlook
The Indian plastic packaging industry is driven by growth in FMCG, packaged beverages, and dairy consumption. Rising urbanization, changing lifestyles, and increased focus on hygienic packaging support long-term demand.
Companies like Bai Kakaji Polymers benefit from recurring orders and repeat customers, offering relatively stable revenue visibility compared to cyclical industries.
Company Financial Performance
| Period Ended | Total Income | PAT | EBITDA | Net Worth | Total Borrowings |
|---|---|---|---|---|---|
| 30 Sep 2025 | 168.56 | 12.81 | 24.35 | 66.55 | 107.25 |
| 31 Mar 2025 | 332.12 | 18.37 | 33.51 | 53.74 | 109.27 |
| 31 Mar 2024 | 296.42 | 9.38 | 20.75 | 35.37 | 40.71 |
| 31 Mar 2023 | 275.09 | 4.18 | 14.17 | 25.99 | 45.59 |
Objects of the Issue
The IPO proceeds are expected to be used for:
Capital expenditure
Working capital requirements
General corporate purposes
Being a fresh issue, the capital directly strengthens the company’s balance sheet.
Key Risks to Consider
High dependence on beverage and FMCG sectors
SME liquidity risks post-listing
Rising raw material prices
Higher debt levels compared to peers
Investors should assess these risks before investing.
Bai Kakaji Polymers IPO Review
The Bai Kakaji Polymers IPO review indicates a fundamentally stable SME offering with steady revenue growth, improving profitability, and strong industry demand. However, valuation comfort and listing gains will depend on subscription response and GMP trends.
Should You Invest in Bai Kakaji Polymers IPO?
This IPO may suit investors who:
Have a moderate risk appetite
Seek exposure to SME manufacturing businesses
Are comfortable with medium- to long-term holding
Short-term investors should closely monitor GMP and subscription momentum.
FAQs on Bai Kakaji Polymers IPO
What is Bai Kakaji Polymers IPO issue size?
The IPO size is ₹105.17 crore.
What is the Bai Kakaji Polymers IPO price band?
The price band is ₹177 to ₹186 per share.
When will Bai Kakaji Polymers IPO list?
The tentative listing date is 31 December 2025 on BSE SME.
Is Bai Kakaji Polymers IPO a fresh issue?
Yes, the issue is entirely a fresh issue.