The Bai Kakajee Polymers IPO opened for public subscription on Tuesday, December 23, 2025, and will remain active until Friday, December 26, 2025. Investors looking to participate in this SME IPO have a window of four days to apply.
Market Performance on Day 1
The IPO saw a swift response, particularly from institutional investors, highlighting strong market interest in the SME segment:
- Overall subscription (Day 1): 1.01x
- Retail investors: 2%
- Non-Institutional Investors (NII): Not yet booked
- Qualified Institutional Buyers (QIBs): 3.50x
The numbers indicate that while institutional participation has been robust, retail investor activity is gradually picking up.
IPO Snapshot
Bai Kakajee Polymers is raising ₹105 crore entirely through a fresh issue of 0.57 crore equity shares. Key details include:
- Price band: ₹177 to ₹186 per share
- Lot size: 600 shares
- Minimum investment for retail investors: 1,200 shares (2 lots) → ₹2,23,200 at the upper end of the price band
- Listing platform: BSE SME
- Tentative listing date: December 31, 2025
Allotment timeline:
- Basis of allotment: Expected on Monday, December 29, 2025
- Shares credit & refunds: Likely processed on the same day
This structure ensures clarity for investors regarding their application and allotment process.
Utilisation of IPO Proceeds
The company has provided a detailed breakdown of how it plans to use the funds raised:
- Repayment of borrowings: ₹64 crore
- Funding additional plant and machinery: ₹9.85 crore
- Setting up a power plant: ₹12.94 crore
- Balance: General corporate purposes
This allocation underlines the company’s focus on strengthening operations while expanding manufacturing capabilities.
About Bai Kakajee Polymers
Founded with a focus on polymer-based manufacturing, Bai Kakajee Polymers specialises in producing:
- Plastic granules
- PET preforms
- Plastic caps and closures
These products cater to industries such as packaged drinking water, carbonated beverages, juices, and dairy products.
The company operates four manufacturing units spanning 33,000 square meters in Latur, Maharashtra, demonstrating its capacity to meet growing industrial demand.
Summary
The Bai Kakajee Polymers IPO provides a structured investment opportunity through the BSE SME platform. With strong early institutional interest and a clear plan for fund utilisation, the IPO is gradually attracting retail investors.
Investors can expect the basis of allotment on December 29, with shares credited and refunds processed on the same day, ahead of the tentative listing on December 31, 2025.
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