Bai Kakaji Polymers IPO opens for subscription from December 23 to 26, 2025, with shares listing on BSE SME on December 31, 2025. The fresh issue raises ₹105.17 crore through 56.54 lakh shares. Bai Kakaji Polymers manufactures polymer compounds and masterbatches for packaging, automotive, and industrial applications using advanced extrusion technology. The Bai Kakaji Polymers IPO offers investors exposure to India’s growing plastics and polymer processing sector driven by packaging demand.
₹3
₹186
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Expert Opinions
Market sentiment surrounding Bai Kakaji Polymers IPO remains steady amid SME sector interest, buoyed by the company’s revenue growth from ₹296 crore in FY24 to ₹332 crore in FY25. Key strengths encompass advanced manufacturing facilities for PET preforms and closures, a diversified product portfolio serving beverages and dairy, and experienced management driving 96% PAT growth year-over-year. Risks include high debt/equity ratio of 2.03, geographic sales concentration over 92% in western/southern India, and raw material price volatility tied to petrochemicals.
Valuation analysis for Bai Kakaji Polymers IPO and year 2025 reveals a Return on Equity (ROE) of 41.23%, ROCE of 25.71%, and Net Asset Value (NAV) of ₹34.12, signaling robust capital efficiency at 5.45 times Price to Book. Long-term investors stand to benefit from plastics industry expansion under Make in India, capacity upgrades, and rising packaged goods demand, positioning the IPO for sustained value creation.
Investor Considerations
Bai Kakaji Polymers IPO investors should evaluate the company’s solid fundamentals, marked by 12% revenue growth to ₹332.12 crore and 96% PAT surge to ₹18.37 crore in FY 2025. The plastics sector outlook appears promising, fueled by expanding packaging needs in FMCG, beverages, and automotive industries under India’s consumption boom.
Valuation analysis for Bai Kakaji Polymers IPO in 2025 indicates a Price to Book Value of 5.45, PAT Margin of 5.64%, and Debt/Equity ratio of 2.03, reflecting growth potential alongside elevated leverage. Growth avenues stem from debt repayment, new machinery installation, solar projects, and capacity enhancements. Key risks encompass regional sales concentration, petrochemical price fluctuations, and competitive pressures. Long-term horizons favor steady compounding from sector tailwinds, whereas short-term plays demand caution amid listing volatility and debt reduction execution.
| Date | GMP | Trend |
|---|---|---|
| 30 Dec 2025 19.21 | ₹3 | --- |
| 29 Dec 2025 20.04 | ₹3 | Up |
| 26 Dec 2025 21.24 | ₹00 | Down |
| 25 Dec 2025 20.02 | ₹10 | --- |
| 24 Dec 2025 19.49 | ₹10 | Down |
| 23 Dec 2025 20.29 | ₹15 | --- |
FAQs
Bai Kakaji Polymers IPO Current GMP is ₹3.
Bai Kakaji Polymers IPO Expected Returns is 1.61%.
Bai Kakaji Polymers IPO estimated listing price is ₹189.