The Bai Kakaji Polymers IPO opening date is December 23, 2025, and the IPO will close on December 26, 2025. The Bai Kakaji Polymers IPO is a book-building issue. The company will raise approximately ₹105.17 crore through the IPO, which includes a fresh issue of ₹105.17 crore and an offer for sale of up to [.] equity shares of face value ₹10.
The price band for the Bai Kakaji Polymers IPO is ₹177 to ₹186 per share. The retail quota is 35%, QIB 50%, and HNI 15%. The Bai Kakaji Polymers IPO will be listed on the BSE on December 31, 2025. The allotment date for the Bai Kakaji Polymers IPO is December 29, 2025.
The company reported revenue of ₹[.] crore in 2025, compared to ₹286.33 crore in 2024. The company reported a profit of ₹[.] crore in 2025, compared to a profit of ₹11.84 crore in 2024. According to financials, IPO investors should apply for the long term in IPOs.
About the Bai Kakaji Polymers IPO
To be updated Bai Kakaji Polymers is an Indian company that manufactures and sells a variety of plastic and polymer products. They primarily manufacture plastic granules, PET preforms, and plastic caps and closures. These products are used in industries such as packaged drinking water, carbonated drinks, juices, and dairy products.
The company has four factories in Latur, Maharashtra, spanning 33,000 square meters. They use modern machinery and techniques, including:
SACMI continuous compression molding, ASB preform molding, HUSKY PET injection molding, SST secure seal testers (analog and digital), bridge strength testers, and vernier calipers. These tools help ensure high-quality and reliable products.
Bai Kakaji Polymers IPO Details
| IPO Open Date | December 23, 2025 |
| IPO Close Date | December 26, 2025 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹177 to ₹186 Per Share |
| Issue Size | Approx ₹105.17 Crores |
| Fresh Issue | Approx ₹105.17 Crores |
| Issue Type | Book Build Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus |  |
| RHP Draft Prospectus | |
Bai Kakaji Polymers IPO Market Lot
The Bai Kakaji Polymers IPO minimum market lot is 1,200 shares with ₹2,23,200 application amount.
| Application | Lot Size | 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 |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 16,08,000 Shares | 28.44% |
| QIB (Ex. Anchor) | 10,75,200 Shares | 19.02% |
| NII Shares Offered | 8,06,400 Shares | 14.26% |
| Retail Shares Offered | 18,81,600 Shares | 33.28% |
Bai Kakaji Polymers IPO Anchor Investors
| Anchor Bidding Date | December 22, 2025 |
| Anchor Investors List | |
| Shares Offered | 16,08,000 Shares |
| Anchor Size | [.] Cr. |
| lock-in period end date 50% shares (30 Days) | January 28, 2026 |
| lock-in period end date 50% shares (90 Days) | March 29, 2026 |
Bai Kakaji Polymers IPO Dates
The Bai Kakaji Polymers IPO date is December 23 and the close date is December 26. The Bai Kakaji Polymers IPO allotment will be finalized on December 29 and the IPO listing on December 31.
| IPO Open Date: | December 23, 2025 |
| IPO Close Date: | December 26, 2025 |
| Basis of Allotment: | December 29, 2025 |
| Refunds: | December 30, 2025 |
| Credit to Demat Account: | December 30, 2025 |
| IPO Listing Date: | December 31, 2025 |
| IPO Bidding Cut-off Time: | December 26, 2025 – 5 PM |
Promoters and Holding Pattern
The promoters of the company are Balkishan Pandurangji Mundada, Harikishan Pandurangji Mundada, Akash Balkishan Mundada, Akshay Balkishan Mundada and Kiran Balkishan Mundada.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,57,50,000 | 100% |
| Promoter Holding Post Issue | 2,14,04,400 | 73.55% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Repayment and/or pre-payment, in full or part, of borrowing availed by our Company | ₹60.00 |
| Funding capital expenditure for the installation of additional plant & machinery | ₹9.80 |
| Funding capital expenditure for setting up a solar power project | ₹12.94 |
| General Corporate Purpose | ₹- |
Bai Kakaji Polymers IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹275.09 | ₹269.35 | ₹4.18 | ₹91.55 |
| 2024 | ₹296.42 | ₹284.98 | ₹9.38 | ₹98.00 |
| 2025 | ₹332.12 | ₹306.22 | ₹18.37 | ₹203.69 |
| September 2025 | ₹168.56 | ₹150.72 | ₹12.81 | ₹195.45 |
Bai Kakaji Polymers IPO Valuation – FY2025
Check Bai Kakaji Polymers IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 41.23% |
| ROCE: | 25.71% |
| EBITDA Margin: | 10.28% |
| PAT Margin: | 5.64% |
| Debt to equity ratio: | 2.03 |
| Earning Per Share (EPS): | ₹11.66 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 34.18% |
| Net Asset Value (NAV): | ₹34.12 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Cool Caps Industries Ltd. | 10.36 | 7.37 | 21.84% | 47.42 | 271.85 Cr. |
| Technopack Polymers Ltd. | 2.72 | 6.50 | 8.61% | 18.46 | 17.45 Cr. |
Bai-Kakaji Polymers is primarily engaged in the manufacturing of PET preforms, plastic caps, and closures. These are essential packaging components for many consumer products. The company's product portfolio includes specialty closures such as Alaska closures (commonly used in packaged drinking water), carbonated soft drink (CSD) caps (1881 neck finish), and a wide range of PET preforms designed for various bottling needs. The company's products are used in a variety of industries, including packaged drinking water, carbonated beverages, juices, and dairy products.
The company started its business in 2013 with a single machine for manufacturing plastic closures. Over the years, it has expanded its operations by adding additional machines and increasing its production capacity. Currently, it uses modern machinery such as SACMI Continuous Compression Molding, ASB Preform Molding, and HUSKY PET Injection Molding from globally renowned OEMs to manufacture closures and PET preforms. All its products undergo rigorous quality checks to ensure they meet the required standards. In recent years, the company has grown into a large player focused on manufacturing PET bottle caps in various shapes, sizes, and colors, as well as cap handles used in various applications. During the six months ended September 30, 2025, its sales were primarily concentrated in Maharashtra, Karnataka, Gujarat, Uttar Pradesh, Kerala, and Andhra Pradesh, accounting for 92.94% of total revenue, reflecting its strong presence in Western and Southern India.
The company also offers shrink and adhesive films to support its existing customers with complete packaging solutions. These films are in high demand, especially in industries requiring strong and reliable packaging. Shrink film, made from LDPE (low-density polyethylene), is mostly used to wrap products such as water bottles, soft drinks, or energy drinks. It is typically used for secondary or tertiary packaging and is a cheaper alternative to corrugated boxes. For the six months ended September 30, 2025, its revenue from sales of products was Rs. 16,094.73 lakh, of which revenue from PET preforms, plastic closures, shrink film, and other products contributed 65.28%, 26.27%, 7.27%, and 1.17%, respectively.
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IPO Lead Managers aka Merchant Bankers
- Hem Securities Ltd.
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
IPO Registrar
Maashitla Securities Pvt. Ltd.
Phone: +91-11-45121795-96
Email: investor.ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues