New Delhi, Dec. 23 -- The initial public offering (IPO) of Bai Kakajee Polymers, which opened for bidding on Tuesday, December 23, garnered a strong response from institutional investors, getting fully booked in less than two hours of opening. Bai Kakajee Polymers IPO will remain open for bidding till December 26.

Bai Kakajee Polymers IPO is also enjoying a strong grey market premium (GMP), increasing its appeal for retail investors who often track this metric.

The Rs.105 crore SME IPO of Bai Kakajee Polymers is entirely a fresh issue of 0.57 crore shares. Bai Kakajee Polymers IPO price band has been fixed at Rs.177 to Rs.186 apiece, with the lot size set at 600 shares.

The retail investor needs to apply for a minimum of two lots (1,20...