Bai Kakaji Polymers Announces INR 105.17 Cr IPO IPO opens on December 23, 2025, closes on December 26, 2025
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Bai Kakaji Polymers Limited has announced the launch of its initial public offering on the SME platform of BSE. The IPO will open for subscription on December 23, 2025 and will close on December 26, 2025. The company has fixed the price band at INR 177 to INR 186 per equity share, with a face value of INR 10 each.
The public issue consists entirely of a fresh issue of 56,54,400 equity shares. At the upper end of the price band, the total issue size aggregates to about INR 105.17 crore. There is no offer for sale in this IPO, and the issue is being conducted through a 100 percent book building process. The minimum application size for investors has been set at 600 equity shares.
Hem Securities Limited is acting as the book running lead manager for the issue, while Maashitla Securities Private Limited has been appointed as the registrar. The equity shares are proposed to be listed on the SME platform of the BSE after the completion of the issue process.
The allocation for the IPO has been divided among different investor categories. Qualified Institutional Buyers have been allocated 26,83,200 equity shares. Non Institutional Investors have reserved 8,06,400 shares, while Retail Individual Investors will have access to 18,81,600 shares. In addition, 2,83,200 shares have been allocated to the market maker.
According to the company, the net proceeds from the IPO will be used for multiple purposes. These include repayment or prepayment of certain borrowings, funding capital expenditure for the installation of additional plant and machinery, and setting up a solar power project. A portion of the funds will also be used for general corporate purposes.
Bai Kakaji Polymers Limited was incorporated in 2013 and is headquartered in Latur (Maharashtra). The company is engaged in the manufacturing of PET preforms and specialised closures that are used in packaged drinking water, carbonated beverages, juices, and dairy products. It operates four manufacturing facilities in Latur spread across more than 33,000 square meters. The company has an annual capacity of around 20,000 metric tonnes of PET preforms and about 44,000 lakh units of closures.
On the financial front, the company reported revenue of INR 326.00 crore in FY25, with EBITDA of INR 33.51 crore and profit after tax of INR 18.37 crore. For the first half of FY26, revenue stood at INR 162.11 crore, EBITDA at INR 24.35 crore, and profit after tax at INR 12.81 crore.
