THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS ANNOUNCEMENT. THIS DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES. THIS PUBLIC ANNOUNCEMENT IS NOT INTENDED FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY OUTSIDE INDIA.

BAI-KAKAJI POLYMERS LIMITED

THE EQUITY SHARES OF THE COMPANY WILL GET LISTED ON SME PLATFORM OF BSE SME

Our Company was originally incorporated as a private limited company under the name Harikishan Minerals Private Limited on July 30, 2013, under the provisions of the Companies Act, 1956, with the Registrar of Companies, Maharashtra, Mumbai, bearing Corporate Identity Number (CIN) U15549MH2013PTC246369. Subsequently, the name of the Company was changed to Bai-Kakaji Polymers Private Limited pursuant to a special resolution passed by the shareholders on March 30, 2015. A fresh certificate of incorporation reflecting the new name was issued by the Registrar of Companies, Mumbai, on May 09, 2015. The Company was later converted into a public limited company following a special resolution passed by the shareholders at the Extraordinary General Meeting held on March 18, 2025. As a result, the name of the Company was changed from Bai-Kakaji Polymers Private Limited to Bai-Kakaji Polymers Limited, and a fresh certificate of incorporation was issued by the Registrar of Companies, Central Processing Centre, on April 09, 2025, reflecting the conversion. The Company's Corporate Identity Number is now U22209MH2013PLC246369.

We are primarily engaged in the business of manufacturing of PET preforms, Plastic caps and closures. These are important parts of packaging used in many consumer products. Our product portfolio include specialized closures such as Alaska closures (Commonly used in packaged drinking water), Carbonated Soft Drinks (CSD) cap (1881 neck finish), and wide range of PET preforms designed for different bottling needs. Our products find diverse applications across various industries including packaged drinking water, carbonated beverages, juices and dairy products.

a) We derive a significant portion of our revenue from the sale of our key product i.e. Pet Preforms. Any decline in the sales of our key product could have an adverse effect on our business, results of operations and financial condition.

b) We generate our major portion of turnover from our operations in certain geographical regions and any adverse developments affecting our operations in these regions could have an adverse impact on our revenue and results of operations.

c) We are primarily dependent upon few key suppliers within limited geographical location for procurement of raw materials. Any disruption in the supply of the raw materials or fluctuations in their prices could have a material adverse effect on our business operations and financial conditions.

d) Increase in the prices of raw materials and fluctuations may adversely impact our business, financial condition and operational results.

e) There are outstanding legal proceedings involving our Company, our Directors and our Promoters. Any adverse decisions could impact our cash flows and profit or loss to the extent of demand amount, interest and penalty, divert management time and attention and have an adverse effect on our business, prospects, results of operations and financial condition.

f) Our business is subject to season volatility due to packaged mineral water and soft drinks sales in summer and winter seasons.

g) Our Business is dependent on our factory. Any disruption, breakdown or failure of machinery, disruption to power sources or any temporary shutdown of our factory, may have a material adverse effect on our business, results of operations, financial condition and cash flows.

h) We require certain approvals or licenses in the ordinary course of business, and the failure to renew, obtain, or retain them in a timely manner, or at all, may adversely affect our operations.

i) Our net cash flows from financing and investing activities have been negative in some years in the past. Any negative cash flow in the future may affect our liquidity and financial condition.

j) The restated financial statements have been provided by peer reviewed chartered accountants who is not statutory auditor of our company.

k) The Merchant Banker associated with the Issue has handled 64 public issues in the past three years out of which 3 SME Issue closed below the Issue Price on listing date.

l) Average cost of acquisition of Equity Shares held by the Individual Promoters is given below and the Issue Price at the upper end of the Price Band is Rs. 186 per Equity Shares

m) The Price/ Earnings ratio based on Diluted EPS for Fiscal 2025 for the company at the upper end (Rs. 186) of the Price Band is 15.95

n) Weighted Average Return on Net worth for Fiscals 2025, 2024 and 2023 is 28.61 %.

o) Weighted average cost of acquisition of all the shares transacted in the three years, 18 months and one year preceding the date of the Prospectus-

p) Weighted average cost of acquisition compared to Floor Price (Rs. 177) and Cap Price (Rs. 186).

This Issue is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the "SCRR") read with Regulation 229 of the SEBI ICDR Regulations and in compliance with Regulation 253(1) and 253(2) of the SEBI ICDR Regulations read with SEBI ICDR (Amendment) Regulations, 2025, wherein not more than 50.00% of the Net Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") (the "QIB Portion"), provided that our Company in consultation with the BRLMs may allocate up to 60.00% of the QIB Portion to Anchor Investors on a discretionary basis ("Anchor Investor Portion"). 40% of the Anchor Investor Portion shall be reserved for (i) 33.33 % for domestic Mutual Funds; and (ii) 6.67% for Life Insurance Companies and Pension Funds and subject to valid Bids being received from the domestic Mutual Funds and Life Insurance Companies and Pension Funds, as applicable, at or above the price at which allocation will be made to Anchor Investors ("Anchor Investor Allocation Price") in accordance with the SEBIICDR Regulations and any under-subscription under (ii) may be allocated to domestic Mutual Funds. In the event of undersubscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (other than the Anchor Investor Portion) ("Net QIB Portion "). Further, 5.00% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, other than Anchor Investors, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. However, if the aggregate demand from Mutual Funds is less than 5.00% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs. Further, the SEBI ICDR Regulations read with SEBI ICDR (Amendment) Regulations, 2025, states that not less 35% of the Net Issue shall be available for allocation to Individual Investors who applies for minimum application size. Not less than 15% of the Net Issue shall be available for allocation to Mon-Institutional Investors of which one-third of the Non-Institutional Portion will be available for allocation to Bidders with an application size of more than two lots and up to such lots as equivalent to not more than Rs. 10.00 Lakhs and two-thirds of the Non-Institutional Portion will be available for each Non-Institutional Investors shall not be less than the minimum application size in Non-Institutional Category and the remaining available Equity Shares, if any, shall be allocated on a proportionate basis in accordance with the conditions specified in this regard in Schedule XIII of the SEBI (ICDR) (Amendment) Regulations, 2025. All Potential Bidders, other than Anchor Investors, are required to participate in the Issue by mandatorily utilising the Application Supported by Blocked Amount ("ASBA") process by providing details of their respective ASBA Account (as defined hereinafter) in which the corresponding Bid Amounts will be blocked by the Self-Certified Potential Bidders, other than Anchor Investors, are required to participate in the Issue by mandatorily utilising the Application Supported by Blocked Amount ("ASBA")process by providing details of their respective ASBA Account (as defined hereinafter) in which the corresponding Bid Amounts will be blocked by the Self-Certified Syndicate Banks ("SCSBs") or under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors are not permitted to participate in the Issue through the ASBA process. For details, see "Issue Procedure" beginning on page 309 of the Prospectus.

The investors are advised to refer to the Prospectus for the full text of the Disclaimer clause pertaining to BSE SME. For the purpose of this Issue, the designated Stock Exchange will be the BSE Limited.

The trading is proposed to be commenced on or before December 31, 2025 *

The bidding for Anchor Investors opened and closed on December 22, 2025. The Company received 14 Anchor Investors applications for 18.78.600 Equity Shares. The Anchor Investor Allocation price was finalized at Rs. 186/- per Equity Share. A total of 16,08,000 Equity Shares were allotted under the Anchor Investors portion aggregating to Rs. 29,90,88.000/-.

The Issue (excluding Anchor Investors Portion) received 7,701 Applications for 2,24,36,400 Equity Shares (after considering invalid bids, Other than RC10 Transaction declined by Investors. RC10 Mandate not accepted by Investors and Withdrawal/ Cancelled Bids reported by SCSB) resulting 5.54 times subscription (including reserved portion of market maker and excluding anchor investor portion). The details of the Applications received in the Issue from various categories are as under (before rejections):

A summary of the final demand as per BSE as on the Bid/ Issue Closing Date at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the designated Stock Exchange, being BSE Limited ("BSE SME") on December 29, 2025.

The Basis of Allotment to the Individual Investors, who have Bid at cut-off Price or at or above the Issue Price of Rs. 186 per Equity Share, was finalized in consultation with BSE SME. The category has been subscribed to the extent of 3.84 times. The total number of Equity Shares Allotted in this category is 18,81,600 Equity Shares to 1568 successful applicants. The details of the Basis of Allotment of the said category are as under:

The Basis of Allotment to the Non-Institutional Investors, who have bid at the Issue Price of Rs. 186 per Equity Share was finalized in consultation with BSE SME. The category has been subscribed to the extent of 5.18 times. The total number of Equity Shares Allotted in this category is 2,68,800 Equity Shares to 149 successful applicants. The details of the Basis of Allotment of the said category are as under:

The Basis of Allotment to the Non-Institutional Investors, who have bid at the Issue Price of Rs. 186 or above per Equity Share was finalized in consultation with BSE SME. The category has been subscribed to the extent of 9.29 times (after rejection). The total number of Equity Shares Allotted in this category is 5,37,600 Equity shares to 298 successful applicants. The details of the Basis of Allotment of the said category are as under:

4) Allotment to Market Maker: The Basis of Allotment to Market Maker who have bid at Issue Price of Rs. 186/- per Equity Shares, was finalized in consultation with BSE SME. The category was subscribed by 1.00 times i.e. for 2,83,200 Equity shares the total number of shares allotted in this category is 2,83,200 Equity Shares. The category wise details of the Basis of Allotment are as under:

Allotment to QIBs, who have bid at the Issue Price of Rs. 186/- per Equity Share has been done on a proportionate basis in consultation with SME BSE. This category has been subscribed to the extent of 7.85 times of QIB portion. The total number of Equity Shares allotted in the QIB category is 10,75,200 Equity Shares, which were allotted to 10 successful Applicants.

The Company in consultation with the BRLM has allocated 16,08,000 Equity Shares to 14 Anchor Investors at the Anchor Investor Issue Price of Rs. 186 per Equity Shares in accordance with the SEBI (ICDR) Regulations. This represents upto 60% of the QIB Category.

The Board of Directors of our Company at its meeting held on December 29, 2025 has taken on record the basis of allotment of Equity Shares approved by the designated Stock Exchange, being BSE SME and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation will be dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been dispatched / mailed for unblocking of funds and transfer to the Public Issue Account on or before December 30, 2025. In case the same is not received within ten days, Investors may contact the Registrar to the Issue at the address given below. The Equity Shares allotted to the successful allottees shall be uploaded on December 30, 2025 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is in the process of obtaining the listing and trading approval from BSE SME and the trading of the Equity Shares is expected to commence trading on December 31, 2025.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated December 29, 2025, filed with the Registrar of Companies, Mumbai ("RoC").

The details of the allotment made has been hosted on the website of the Registrar to the Issue, Maashitla Securities Private Limited at website: www.maashitla.com

TRACK RECORD OF BOOK RUNNING LEAD MANAGER: The BRLM associated with the Issue has handled 64 Public Issues in the past three financial years, out of which 3 issue was closed below the Issue/ Offer Price on listing date:

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole Bidder Serial number of the ASBA form, number of Equity Shares bid for, Bidder DP ID, Client ID, PAN, date of submission of the Bid cum Application Form, address of the Bidder, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder and copy of the Acknowledgment Slip received from the Designated Intermediary and payment details at the address given below:

	MAASHITLA SECURITIES PRIVATE LIMITED
	Address: 451, Krishna Apra Business Square, Netaji Subhash Place, Pitampura, New Delhi-110034
	Tel No.: 011-47581432; Email: investor.ipo@maashitla.com; Website: www.maashitla.com
	Investor Grievance Email: investor.ipo@maashitla.com
	Contact Person: Mr. Mukul Agrawal; SEBI Registration Number: INR000004370
	CIN: U67100DL2010PTC208725
		On behalf of Board of Directors
		Bai-Kakaji Polymers Limited
		Sd/-
Place: Latur, Maharashtra		Dheerajkumar Pannalal Tiwari
Date: December 30, 2025		Company Secretary and Compliance Officer