Bai Kakaji Polymers came to market through an SME IPO that opened on 23 December 2025 and closed on 26 December 2025, and the shares listed on 31 December 2025 on BSE SME. The price band was ₹177 to ₹186 per share and one lot was 600 shares, so the minimum application was ₹1,11,600. The issue size was ₹105.17 crore. The whole issue was fresh shares, so the money raised went to the company.
Maashitla Securities Pvt.Ltd was the registrar to the issue, and Hem Securities Ltd was the lead manager.
As of 26 December 2025.
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Apollo Bai Kakaji Polymers is an Indian company incorporated in the year 2016, primarily involved in the business of manufacturing and trading plastic and polymer-based products. The company is focused on manufacturing superior quality plastic granules in the form of PET Preforms, Plastic Caps & Closures that are used in a variety of applications in the packaged drinking water, carbonated beverages, juice, and dairy sectors.
They have four manufacturing units located in Latur, Maharashtra, spanning an area of 33,000 square meters. They employ the latest manufacturing processes andequipments such as SACMI Continuous Compression Molding machine, ASB Preform Molding machine, HUSKY Pet Injection Molding machine, SST Secure Seal Tester-analogue & tester, Bridge Strength tester, Vernier Calliper, among others.
As described in the offer document.
| Metric | 30-Sep-25 | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
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Balkishan Pandurangji Mundada, Harikishan Pandurangji Mundada, Akash Balkishan Mundada, Akshay Balkishan Mundada, Kiran Balkishan Mundada. Promoter holding 100% before the issue and 73.58% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Bai Kakaji Polymers IPO was a ₹105.17 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹177–₹186 per share with a lot size of 600 shares; the minimum retail application was 1,200 shares (₹2,23,200). The IPO was open from December 23 to December 26, 2025 and was subscribed 5.79x. Shares listed on BSE SME on December 31, 2025 at ₹190, a 2.2% premium to the issue price of ₹186. Maashitla Securities Pvt. Ltd.
is the registrar. Hem Securities Ltd. is the book running lead manager.
The price band of Bai Kakaji Polymers IPO is ₹177 to ₹186 per share.
The lot size of Bai Kakaji Polymers IPO is 600 shares.
The minimum investment for Bai Kakaji Polymers IPO is approximately ₹2,23,200 based on the upper price band.
The allotment date of Bai Kakaji Polymers IPO is Dec 29, 2025.
You can check Bai Kakaji Polymers IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Bai Kakaji Polymers IPO allotment status on Rupix for quick and easy access.
₹177 to ₹186 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 600 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,11,600. After listing, SME shares also trade in lots rather than one share at a time.
₹1,11,600, for one lot of 600 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 23 December 2025 and closed on 26 December 2025.
The basis of allotment was published on 29 December 2025 by Maashitla Securities Pvt.Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 31 December 2025 on BSE SME.
The issue size was ₹105.17 crore. The fresh issue was 56,54,400 shares (aggregating up to ₹105.17 crore).