Bai Kakaji Polymers Limited is an Indian company engaged in the manufacturing and trading of plastic and polymer-based products, with a primary focus on PET preforms, plastic caps, and closures. These products are widely used across industries such as packaged drinking water, carbonated beverages, juices, and dairy products, catering to both branded and institutional customers.
The company operates four manufacturing units located in Latur, Maharashtra, spread across a total area of approximately 33,000 square meters.
Its facilities are equipped with modern and advanced machinery, including SACMI Continuous Compression Molding machines, ASB Preform Molding machines, and HUSKY PET Injection Molding machines, enabling efficient production and consistent quality. To maintain strict quality standards, the company also uses testing and inspection equipment such as SST Secure Seal Testers (analog and digital), bridge strength testers, and precision measuring tools like Vernier calipers.
Through a combination of advanced manufacturing infrastructure, quality assurance systems, and industry-focused product offerings, Bai Kakaji Polymers aims to deliver reliable and high-performance packaging solutions to its customers.
Bai Kakaji Polymers IPO – Details
| IPO Opening Date | 23 December 2025 |
| IPO Closing Date | 26 December 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 56,54,400 Shares Worth ₹105.00 Crore Fresh Issue: 56,54,400 Shares Worth ₹105.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹177 – ₹186 per share |
| Market Lot | 600 Shares |
| Min Order | 600 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | Maashitla Securities Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Bai Kakaji Polymers IPO – Date Schedule
| IPO Open Date | 23 December 2025 |
| IPO Close Date | 26 December 2025 |
| Basis of Allotment | 29 December 2025 |
| Initiation of Refund | 30 December 2025 |
| Credit of Shares to Demat | 30 December 2025 |
| IPO Listing Date | 31 December 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 26, 2025 |
Bai Kakaji Polymers IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,200 | ₹2,23,200 |
| 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 |
Competitive Strength
- In-house manufacturing facilities.
- Widespread reach in the domestic market.
- Experienced Promoters and management team.
- Stable and Consistent financial performance.
- Long-standing association with customers.
Company Promoters
- Balkishan Pandurangji Mundada
- Harikishan Pandurangji Mundada
- Akash Balkishan Mundada
- Akshay Balkishan Mundada
- Kiran Balkishan Mundada
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹275.09 Cr | ₹269.35 Cr | ₹4.18 Cr | ₹45.59 Cr |
| 31 March 2024 | ₹296.42 Cr | ₹284.98 Cr | ₹9.38 Cr | ₹40.71 Cr |
| 31 March 2025 | ₹332.12 Cr | ₹306.22 Cr | ₹18.37 Cr | ₹109.27 Cr |
| 30 September 2025 | ₹168.56 Cr | ₹150.72 Cr | ₹12.81 Cr | ₹107.25 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| 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 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Repayment and/or pre-payment, in full or part, of borrowing availed by its Company. | ₹64.00 |
| Funding capital expenditure for the installation of additional plant & machinery. | ₹9.85 |
| Funding capital expenditure for setting up a solar power project. | ₹12.94 |
| General corporate purposes. | – |
✅Strengths
- FMCG-linked products: PET preforms, caps & closures with steady demand.
- 4 manufacturing units in Latur with ~33,000 sq. mtr area.
- Advanced machinery (SACMI, ASB, HUSKY) ensures quality & efficiency.
- In-house quality testing improves product reliability.
- Experienced promoters in the polymer & packaging industry.
⚠️Risks
- Revenue is dependent on limited products & beverage sector.
- Raw material price volatility (PET resin linked to crude oil).
- Single-location risk – all plants in Latur, Maharashtra.
- High competition is impacting margins.
- Customer concentration risk.
Bai Kakaji Polymers IPO Promoter Holding
| Pre-Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.55% |
Bai Kakaji Polymers IPO Prospectus
Company Contact Information
| Bai Kakaji Polymers Ltd. Plot No. M3 & M4 MIDC, Latur, Maharashtra, 413531 Phone: +91 9028254663 Email: cs@baikakaji.com Website: https://baikakajipolymers.com/ |
Bai Kakaji Polymers IPO Registrar
| Maashitla Securities Pvt.Ltd. Phone: +91-11-45121795-96 Email: investor.ipo@maashitla.com Website: https://maashitla.com/allotment-status/public-issues |
Bai Kakaji Polymers IPO Lead Manager(s)
| 1. Hem Securities Limited |
Bai Kakaji Polymers IPO FAQ
| What is Bai Kakaji Polymers IPO? Bai Kakaji Polymers IPO is an SME IPO. The issue is priced at ₹177 – ₹186 per equity share. The IPO is to be listed on BSE SME. |
| When will Bai Kakaji Polymers’ IPO open? The IPO is to open on 23 December 2025 for QIB, NII, and Retail Investors. |
| What is Bai Kakaji Polymers IPO Investors’ Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Bai Kakaji Polymers IPO Size? Bai Kakaji Polymers IPO size is ₹105.00 Crore. |
| What are the Bai Kakaji Polymers IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 1200 Shares for ₹2,23,200, while the maximum bid is 1200 Shares for ₹2,23,200. |
| What is the Bai Kakaji Polymers IPO Allotment Date? Bai Kakaji Polymers IPO allotment date is 29 December 2025. |
| What is the Bai Kakaji Polymers IPO Listing Date? Bai Kakaji Polymers IPO listing date is 31 December 2025. The IPO is to be listed on the BSE SME. |
