Maharashtra-based Bai Kakaji Polymers, which makes parts for packaging used in consumer products, has approached capital markets to raise Rs 105.17 crore via initial public offering (IPO), the biggest offer size in the SME segment since September.
The IPO, which comprises of entirely fresh issue of 56.54 lakh equity shares, will open for public subscription on December 23 and close on December 26, with price band of Rs 177-186 per share. The one-day IPO anchor book will be launched on December 22.
The company will finalise IPO share allotment by December 29, and its shares will be available for trading on the BSE SME effective December 31.
Bai Kakaji Polymers intends to utilise Rs 64 crore of fresh issue proceeds for repayment of partial debt against its total borrowings of Rs 107.3 crore as of September 2025.
Further, Rs 9.8 crore will be spent for installation of additional plant & machinery, Rs 12.9 crore for setting up a solar power project, and the remainder funds for general corporate purpose.
With four manufacturing units in Latur, Maharashtra, Bai Kakaji Polymers manufactures PET preforms, plastic caps and closures, which are used across various industries such as packaged drinking water, carbonated beverages, juices and dairy products.
Click Here To Read All IPO News
The financial performance of the company has been strong in the recent past periods, reporting profit of Rs 12.81 crore on revenue of Rs 162.1 crore for the first half of current financial year 2025-26. Profit in FY25 nearly doubled to Rs 18.4 crore, up from Rs 9.4 crore in previous year. In the same years, revenue grew by 10.6 percent to Rs 325.9 crore against Rs 294.8 crore.
Hem Securities is acting as the book running lead manager for the Bai Kakaji Polymers IPO.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
