Bai-Kakaji Polymers Hits Upper Circuit as Abakkus Fund Acquires 2.8% Stake in Bulk Deal

Shares of Bai-Kakaji Polymers surged to the 20% upper circuit after Sunil Singhania-backed Abakkus Venture Opportunities Fund acquired a 2.8% stake in the company through a bulk deal on the exchange. The sharp inflow of institutional interest propelled the stock to its highest level since the company's listing in December 2025.

Abakkus Fund's Acquisition

Abakkus Venture Opportunities Fund, an investment vehicle associated with veteran fund manager Sunil Singhania's Abakkus Asset Management, purchased a 2.8% stake in Bai-Kakaji Polymers via a bulk deal. Bulk deals on Indian stock exchanges involve transactions exceeding 0.5% of a company's total equity capital and are reported to the exchange with details of price and quantity. Such deals are closely tracked by market participants as indicators of institutional positioning, particularly in recently listed small-cap companies where even modest purchases can signal conviction to retail investors.

Singhania, the founder of Abakkus Asset Management, previously served as Chief Investment Officer at Reliance Nippon Life Asset Management (now Nippon Life India Asset Management) and is a well-known figure in India's investment community. Abakkus Asset Management typically focuses on small and mid-cap opportunities, and its investments are often viewed by market participants as a directional indicator for lesser-known names seeking broader institutional recognition.

Stock Reaches Post-Listing High

The bulk purchase triggered strong demand for Bai-Kakaji Polymers shares, pushing the stock to its 20% upper circuit limit. Indian equity exchanges impose circuit filters that restrict price movements within a specified band on a single trading day to curb excessive volatility. A 20% circuit is typically applied to stocks that are not part of derivatives segments.

Following the Abakkus acquisition, the stock traded at its highest point since Bai-Kakaji Polymers completed its initial public offering and listed on the exchanges in December 2025. For newly listed companies, institutional accumulation in the weeks following an IPO is often watched as an early signal of post-listing interest, as retail-heavy floats typically need time to attract diversified ownership.

Source: CNBC-TV18