The initial public offer (IPO) of Bai-Kakaji Polymers received bids for 52,19,400 shares as against 40,46,400 shares on offer, as per BSE data as of 17:00 hours on Tuesday (23 December 2025). The issue was subscribed 1.29 times.

The issue opened for bidding on Tuesday (23 December 2025) and it will close on Friday (26 December 2025). The price band of the IPO was between Rs 177 to Rs 186 per share. The minimum order quantity is 600 equity shares. The equity shares will list on BSE’s SME platform.

The IPO comprises fresh issue of 56,54,400 equity shares. The promoter and promoter shareholding will dilute to 73.55% from 100% Pre-IPO.

About 2,83,200 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 53,71,200 equity shares. The issue and the net issue will constitute 26.42% and 25.09% respectively of the post offer paid up equity share capital of the company

The company intends to utilize the net proceeds for repayment & pre-payment, in full or part, of borrowing availed by company, funding capital expenditure for the installation of additional plant & machinery, funding capital expenditure for setting up a solar power project and for general corporate purpose.

Ahead of the IPO, Bai-Kakaji Polymers on Monday, 22 December 2025, raised Rs 29.90 crore from anchor investors. The board allotted 16.08 lakh shares at Rs 186 per share to 14 anchor investor.

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, including PET preforms, plastic caps, and closures, catering to various industrial applications. Its products are primarily used in packaged drinking water, carbonated beverages, juices, and dairy products.

The company operates four manufacturing units in Latur, Maharashtra, spread across a total area of 33,000 square metres. Bai Kakaji Polymers employs modern manufacturing technologies and advanced machinery such as SACMI Continuous Compression Molding systems, ASB Preform Molding machines, HUSKY PET Injection Molding machines, as well as quality testing equipment including SST Secure Seal Testers (analogue and digital), bridge strength testers, and vernier calipers, ensuring high product quality and consistency. As of 30 September 2025, the company had 359 full-time employees across various levels of the organization.

The company recorded revenue from operations of Rs 162.11 crore and net profit of Rs 12.81 crore for the period ended 30 September 2025.