Bai Kakaji Polymers IPO – Full IPO Overview
Bai Kakaji Polymers Limited is entering the capital markets with its Initial Public Offering (IPO), aiming to raise funds to support business expansion, working capital requirements, and general corporate purposes. The IPO is expected to be launched on the SME platform, offering investors exposure to India’s growing polymers and plastics manufacturing sector. Bai-Kakaji Polymers Limited, a leading manufacturer of PET preforms and plastic packaging solutions, is set to launch its Initial Public Offering (IPO) on December 23, 2025. The company aims to raise approximately ₹105.17 crore through a fresh issue of shares to fuel its next phase of expansion and debt reduction.
The issue primarily focuses on strengthening operational capabilities and supporting the company’s growth trajectory in a competitive and demand-driven industry.
IPO Details & Timeline
The IPO is a Book Built Issue and will be listed on the BSE SME platform.
| Event | Date (Tentative) |
| IPO Open Date | December 23, 2025 |
| IPO Close Date | December 26, 2025 |
| Allotment Finalization | December 29, 2025 |
| Refunds/Credit of Shares | December 30, 2025 |
| Listing Date | December 31, 2025 |
Investment Lot Size & Price Band
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Price Band: ₹177 to ₹186 per equity share.
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Face Value: ₹10 per share.
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Lot Size: 600 shares.
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Minimum Retail Investment: ₹2,23,200 (for 2 lots/1,200 shares as per SME guidelines).
Financial Performance & Objectives
The company has shown consistent growth. For FY25, it reported a revenue of ₹325.93 crore and a Profit After Tax (PAT) of ₹18.37 crore, nearly doubling its profits from the previous year.
The proceeds from the fresh issue will be utilized for:
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Debt Repayment: ₹60 crore for the repayment/pre-payment of borrowings.
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Solar Power Project: ₹12.94 crore for setting up sustainable energy infrastructure.
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Capital Expenditure: ₹9.80 crore for new plant and machinery.
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General Corporate Purposes: ₹22.43 crore.
Company Background
Bai Kakaji Polymers Limited is an Indian manufacturing company engaged in the processing and manufacturing of polymer-based plastic products. The company caters mainly to industrial and commercial customers, supplying polymer solutions used across multiple end-use applications.
With a focus on cost-efficient manufacturing, material consistency, and timely supply, the company has established itself as a reliable vendor within the domestic polymers ecosystem.
Business Model & Operations
Bai Kakaji Polymers operates on a B2B business model, supplying polymer products to businesses that rely on durable, functional plastic components rather than branded consumer products.
Key Operational Highlights:
- Processing of polymer raw materials and granules
- Manufacturing of plastic and polymer-based industrial products
- Customised production based on client specifications
- Bulk supply to distributors and institutional buyers
The company’s operational strategy prioritises volume efficiency, raw-material optimisation, and repeat orders, which are critical success factors in the polymers industry.
Product Portfolio
The company’s product mix includes:
- Industrial plastic and polymer components
- Utility and application-specific plastic products
- Custom-moulded polymer solutions
- Plastic products used in packaging, infrastructure, and industrial applications
Bai Kakaji Polymers focuses on functional usage products, where durability and pricing play a more important role than branding.
Manufacturing Infrastructure
- In-house manufacturing and processing facilities
- Plastic moulding and processing machinery
- Quality-control systems for consistency and strength
- Scalable production capacity to meet rising demand
The company’s infrastructure allows it to manage large-volume orders while maintaining cost competitiveness.
Industry Overview & Growth Potential
India’s polymers and plastics sector continues to grow due to:
- Increasing demand from infrastructure, packaging, FMCG, automotive, and industrial segments
- Shift towards lightweight and cost-effective materials
- Rising domestic manufacturing and industrial activity
Bai Kakaji Polymers stands to benefit from these trends, particularly in industrial and utility-driven polymer applications, where demand remains steady.
Objectives of the IPO
The company intends to utilise IPO proceeds for:
- Working capital requirements
- Expansion of manufacturing and operational capacity
- General corporate purposes, including strengthening balance-sheet flexibility
These objectives are aligned with supporting sustainable growth and improving operational efficiency.
Key Strengths
✅ Manufacturing-Focused Business Model
✅ Cost-Efficient Operations
✅ Steady Industrial Demand for Polymer Products
✅ Scalable Production Infrastructure
✅ Domestic Market Presence
Risks & Challenges
❌ Raw Material Price Volatility (linked to crude oil prices)
❌ Highly Competitive & Fragmented Industry
❌ Margin Sensitivity Due to Pricing Pressure
❌ Regulatory & Environmental Compliance Risks
Investors should consider these factors while evaluating the IPO.
Investment Outlook
Short-Term View
- SME IPOs may experience listing volatility
- Performance depends on subscription levels and market sentiment
Long-Term View
- Growth aligned with India’s industrial and manufacturing expansion
- Stable demand for polymer products supports long-term visibility
- Execution, margin management, and scale will be key drivers
Conclusion
The Bai Kakaji Polymers IPO offers investors exposure to a manufacturing-driven polymers company operating in a structurally growing sector. While the industry is competitive and margin-sensitive, the company’s focus on operational efficiency, industrial demand, and scalable production provides a foundation for sustainable growth.
As with all SME IPOs, investors should carefully assess risk appetite, liquidity considerations, and long-term business fundamentals before making an investment decision.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Please consult a certified financial advisor before investing.
