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Bai Kakaji Polymers IPO
Price Band
₹177.0–186.0
Issue Size
₹105.17 Cr
Lot Size
600 shares
Min Investment
₹223,200
2 LOTS MIN
GMP
+₹3.0 (1.61%)
Issue Price
₹186.0
Subject to Sauda
₹1400
Paid only if allotted
Bai Kakaji Polymers IPO AI Summary
- Bai Kakaji Polymers IPO is listed on BSE SME in the Plastic Products - Consumer sector.
- Price band: ₹177.0–₹186.0 per share, lot size 600 shares (min. investment ₹223,200, 2 lots minimum).
- Subscription window: 23 Dec–26 Dec 2025, listing on 31 Dec 2025.
- Current GMP is +₹3.0 (1.61%), an estimated listing price of ₹189 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Bai Kakaji Polymers IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 26 Dec 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Bai Kakaji Polymers IPO Grey Market Premium (GMP) Today
GMP
+₹3.0
GMP %
+1.61%
Est. Listing
₹189.0
Updated: 25 Jul 2026 14:15
About the Company
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 i.e., PET preforms, Plastic caps and closures that cater to various industrial applications, particularly in packaged drinking water, carbonated beverages, juices & dairy products. The company has four manufacturing units in Latur, Maharashtra across 33,000 square meters. It utilizes modern manufacturing techniques and machines like SACMI Continuous Compression Molding, ASB Preform Molding and HUSKY Pet Injection Molding machines, SST Secure Seal Tester (analogue & tester), Bridge strength tester, Vernier Calliper, etc. Competitive Strength In-house manufacturing facilities Widespread reach in domestic market Experienced Promoters and management team Stable and Consistent financial performance Long standing association with customers
Company Financials (₹ Cr)
As of 2025-09-30
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 195.45 | 203.69 | 98.00 | 91.55 |
| Total Income | 168.56 | 332.12 | 296.42 | 275.09 |
| Profit After Tax | 12.81 | 18.37 | 9.38 | 4.18 |
| EBITDA | 24.35 | 33.51 | 20.75 | 14.17 |
| NET Worth | 66.55 | 53.74 | 35.37 | 25.99 |
| Reserves and Surplus | 50.80 | 51.49 | 33.12 | 23.74 |
| Total Borrowing | 107.25 | 109.27 | 40.71 | 45.59 |
Key Ratios
EPS
₹11.66
NAV
₹34.12
ROE
41.23%
ROCE
25.71%
RoNW
34.18%
P/B Value
5.45
P/E Ratio
15.95
Market Cap
₹398.12 Cr
PAT Margin
5.64%
Debt/Equity
2.03
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Technopack Polymers Ltd. | 18.46 | 8.61% | 6.5 | 2.72 | 2.72 |
| Cool Caps Industries Ltd. | 47.42 | 21.84% | 7.37 | 10.36 | 10.36 |
| Bai Kakaji Polymers Limited This IPO | 34.12 | 34.18% | — | 11.66 | 11.66 |
Promoters
Balkishan Pandurangji Mundada, Harikishan Pandurangji Mundada, Akash Balkishan Mundada, Akshay Balkishan Mundada and Kiran Balkishan Mundada
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment and/or pre-payment, in full or part, of borrowing availed by Company 64.00 2 Funding capital expenditure for the installation of additional plant & machinery 9.85 3 Funding capital expenditure for setting up a solar power project 12.94 4 General Corporate Purposes 6.78 5 Issue Expenses 11.60 Total 105.17
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹275.09 Cr in the year ending 31 Mar 2023, increasing to ₹296.42 Cr by 31 Mar 2024, and further rising to ₹332.12 Cr for the year ending 31 Mar 2025. However, for the period ending 30 Sep 2025, total income decreased to ₹168.56 Cr. This is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹4.18 Cr in the year ending 31 Mar 2023, which rose to ₹9.38 Cr by 31 Mar 2024, and further increased to ₹18.37 Cr for the year ending 31 Mar 2025. For the period ending 30 Sep 2025, profit after tax was ₹12.81 Cr. This is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
Bai Kakaji Polymers has an EPS of ₹11.66, which implies a P/E ratio of 15.95 at the issue price. Comparatively, peers are trading at P/E ratios ranging from 6.5 to 7.37.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an indicator of the demand for an IPO before it is officially listed. A positive GMP suggests that the stock is expected to list at a higher price than the issue price, while a negative GMP indicates the opposite. Investors often look at GMP to gauge market sentiment regarding an IPO.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's essential to consider the company's fundamentals and market conditions.
Who May Want to Wait
Investors who prefer stable and less volatile investment options may want to avoid IPOs like this, which can experience significant price fluctuations shortly after listing.
IPO Timeline, Explained
The IPO opens on 23 Dec 2025 and closes on 26 Dec 2025. Allotment of shares will be done by 29 Dec 2025, and the listing date is set for 31 Dec 2025.
Listing Gains — The Risk
Listing day gains can be unpredictable and are influenced by various factors, including market sentiment and demand for the stock. Investors should be aware that while some IPOs may see a surge in price on their listing day, others may experience declines. It's essential to approach listing day trading with caution.
This evaluation is generated from Bai Kakaji Polymers's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Bai Kakaji Polymers IPO GMP today?
Bai Kakaji Polymers IPO GMP today is +₹3.0 (1.61%), indicating an estimated listing price of ₹189. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Bai Kakaji Polymers IPO?
The price band of Bai Kakaji Polymers IPO is ₹177.0–₹186.0 per share.
When does Bai Kakaji Polymers IPO open and close?
Bai Kakaji Polymers IPO opens on 23 December 2025 and closes on 26 December 2025.
When does Bai Kakaji Polymers IPO list on the stock exchange?
Bai Kakaji Polymers IPO listed on 31 December 2025 at ₹189.0.
What is the lot size for Bai Kakaji Polymers IPO?
The lot size for Bai Kakaji Polymers IPO is 600 shares, requiring a minimum investment of ₹223,200 (2 lots).
What is the lot size for this IPO?
The lot size for Bai Kakaji Polymers' IPO is 600 shares.
What is the minimum investment required?
The minimum investment required is ₹223,200.
What is the price band for the IPO?
The price band for the IPO is ₹177.0 to ₹186.0.
When does the IPO open and close?
The IPO opens on 23 Dec 2025 and closes on 26 Dec 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected demand for the stock before it is officially listed.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
23 Dec 2025
Close
26 Dec 2025
Allotment
29 Dec 2025
Listing
31 Dec 2025
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