Summary
This blog provides a detailed overview of the Clay Craft India IPO, including its schedule, issue details, GMP, financials, and review. The ₹110 crore NSE SME issue opens on June 17, 2026 and closes on June 19, 2026.
Clay Craft India manufactures ceramic tableware products and sells them through a nationwide distribution network. The current GMP of ₹65 implies potential listing gains of around 32%.
Clay Craft India IPO will be raising ₹110 crore through a fresh issue of a total of 54,24,000 shares. The bidding period starts on June 17, 2026. Applications are accepted until the offer window closes on June 19, 2026. The company has proposed an allotment on June 22, 2026. This issue will debut on NSE SME with the listing scheduled on June 24, 2026.
Each lot in this offering has 600 shares. It is a bookbuilding issue with the price set between ₹193 and ₹203. Retail investors can participate by applying for a minimum of two lots, amounting to ₹2,43,600. The minimum outlay for the sNII category is ₹3,65,400 for three lots. For bNII participants, bidding starts at nine lots requiring ₹10,96,200.
Clay Craft India IPO Details
A complete overview of the main particulars of this offering is provided in the table below:
| Particulars | Details |
| Bidding Opens | Jun 17, 2026 |
| Bidding Closes | Jun 19, 2026 |
| Face Value | ₹10 per share |
| Issue Type | Book-building |
| Price Band | ₹193 to ₹203 |
| Issue Price | – |
| Listing at | NSE SME |
| Lot Size | 600 Shares |
| Fresh Issue | 51,51,600 shares (₹105 Crore) |
| Market Maker Shares | 2,72,400 shares (₹6 Crore) |
| Offer for Sale (OFS) | |
| Total Issue | 54,24,000 shares (₹110 Crore) |
| Minimum Investment | ₹2,43,600 |
Clay Craft India IPO Timeline
The IPO is scheduled to proceed according to the given timeline:
| Particulars | Details |
| Bidding Opens | June 17, 2026 |
| Bidding Closes | June 19, 2026 |
| Proposed Allotment | June 22, 2026 |
| Refunds Start On | June 23, 2026 |
| Share Credit to Demat | June 23, 2026 |
| Listing Scheduled | June 24, 2026 |
| Cut-off for UPI mandate | 5:00 PM on June 19, 2026 |
Clay Craft India Key Performance Indicators
Presented below are the Clay Craft India’s KPIs:
| KPIs | FY26 | FY25 | FY24 |
| ROE (%) | 17.71 | 16.21 | 12.24 |
| ROCE (%) | 18.26 | 16.69 | 14.42 |
| Debt Equity (times) | 0.30 | 0.34 | 0.40 |
| RoNW (%) | 16.27 | 14.93 | 11.54 |
| PAT Margin (%) | 15.02 | 13.66 | 9.28 |
| EBITDA Margin (%) | 23.33 | 23.29 | 19.70 |
| Price Book Value | 1.85 | – | – |
Financials of Clay Craft India
Clay Craft India’ s financial metrics are summarised in the following table:
| Particulars (in ₹ lakh) | FY26 | FY25 | FY24 |
| Total Assets | 25,195.35 | 21,739.48 | 18,867.35 |
| Revenue | 18,456.86 | 15,443.70 | 14,698.82 |
| Profit | 2,701.49 | 2,075.74 | 1,350.20 |
Clay Craft India IPO Subscription Status
| Date | QIB (Ex Anchor) | NII* | Individual Investors | Total |
|---|---|---|---|---|
| Jun 17 (Day 1) | 0.00 | 0.45 | 0.53 | 0.36 |
Clay Craft India IPO Grey Market Premium
The GMP of Clay Craft India IPO currently stands at ₹65, reflecting positive market sentiment ahead of listing. As per the current premium, the IPO will debut near ₹268, translating to around 32.02% listing gains.
| GMP Date | GMP | Est. Listing Price | Est. Profit* | Last Updated |
|---|---|---|---|---|
| 17-06-2026 Open | ₹40 ─ | ₹243 (19.70%) | ₹24,000 | 17-Jun-2026 10:53 |
| 16-06-2026 | ₹40 ▼ | ₹243 (19.70%) | ₹24,000 | 16-Jun-2026 23:30 |
| 15-06-2026 | ₹65 ▼ | ₹268 (32.02%) | ₹39,000 | 15-Jun-2026 23:29 |
| 14-06-2026 | ₹72 ▲ | ₹275 (35.47%) | ₹43,200 | 14-Jun-2026 23:31 |
| 13-06-2026 | ₹60 ▲ | ₹263 (29.56%) | ₹36,000 | 13-Jun-2026 23:37 |
| 12-06-2026 | ₹0 ─ | ₹203 (0.00%) | ₹0 | 12-Jun-2026 23:30 |
Note: The GMP reflects unofficial trading activity in the grey market and is provided for information purposes only. It can fluctuate based on subscription levels, investor interest, and prevailing market sentiment.
Clay Craft India IPO Reservation
The share allocation under the IPO is divided among multiple investor segments.
| Investor Category | Reservation |
| Market Maker Shares | 2,72,400 |
| QIB Shares | 25,74,000 |
| NII (HNI) Shares | 7,74,000 |
| Retail Shares | 18,03,600 |
| Total Shares | 54,24,000 |
Lot size of the Clay Craft India IPO
Bids for the issue must conform to the prescribed lot sizes mentioned below.
| Investor Type | Lots | Shares | Amount |
| Individual Investors (Minimum) | 2 | 1,200 | ₹2,43,600 |
| Individual Investors (Maximum) | 2 | 1,200 | ₹2,43,600 |
| S-HNI (Minimum) | 3 | 1,800 | ₹3,65,400 |
| S-HNI (Maximum) | 8 | 4,800 | ₹9,74,400 |
| B-HNI (Minimum) | 9 | 5,400 | ₹10,96,200 |
Clay Craft India IPO Anchor Investors
An overview of the anchor investor participation in this issue is provided below:
| Particulars | Details |
| Anchor Bidding Opens | June 16, 2026 |
| Shares Offered | 15,43,800 |
| Portion Size | QIB portion’s 60% |
| Lock-in for 50% Shares (30 Days) | July 22, 2026 |
| Remaining Shares Lock-in (90 Days) | September 20, 2026 |
Clay Craft India IPO Prospectus
For a deeper understanding of the offering, refer to the following linked resources.
About Clay Craft India
With roots dating back to 1988, Clay Craft India functions as both a producer and distributor within the ceramic tableware industry. The company designs, develops, manufactures, and markets a wide range of products, including dinner sets, mugs, tea and coffee serving sets, platters, bowls, tumblers, and tabletop accessories. It also undertakes customised manufacturing for corporate, institutional, and Hotel, Restaurant, and Catering (HoReCa) clients.
With an annual production capacity of around 6,000 metric tonnes, the company’s two Rajasthan-based plants form the backbone of its manufacturing operations. Clay Craft is led by its promoters and directors, Rajesh Narain Agarwal, Vikas Agarwal, Bharat Agarwal, and Deepak Agarwal, who collectively bring extensive industry experience. Among these promoters, Vikas Agarwal leads as the managing director, bringing over 27 years of industry experience and guiding the firm’s strategy and day-to-day execution.
| Lead Manager | Hem Securities |
| IPO Registrar | Kfin Technologies |
Clay Craft India IPO Objectives
The net proceeds are expected to be utilised in the manner outlined below.
| S. No. | Particulars | Amount (in ₹ lakh) |
| 1. | Capex for manufacturing unit setup at Manda, Rajasthan | 9700.00 |
| 2. | General corporate purposes | – |
Clay Craft India Strengths
Several factors support Clay Craft India’s business model and competitive positioning, which include:
- Integrated and scalable manufacturing capabilities: The company operates an integrated manufacturing setup that supports both scale and quality control across its product range, providing a strong operational foundation for growth.
- Experienced promoter and management team: With over three decades in the ceramics industry, the promoters bring deep domain knowledge and operational expertise that support strategic decision-making and business continuity.
- In-house design development: The company maintains an internal design team focused on innovation and quality, enabling it to introduce new patterns and product formats without dependence on external agencies.
- Diversified product portfolio: By offering close to 5,770 SKUs across diverse categories, Clay Craft reaches customers across multiple categories, ranging from individual households to institutional buyers.
- Extensive distribution network: The company has built a multi-channel distribution presence that spans retail, institutional, and corporate gifting segments, supporting consistent revenue across market conditions.
Risks of Clay Craft India
Before making an investment decision, the following risk factors associated with Clay Craft India warrant careful consideration:
- Competitive and fragmented market: The ceramic tableware segment is highly competitive, with multiple organised and unorganised players. Sustaining pricing power and market share in such an environment requires constant product innovation and cost discipline.
- Sustainability of recent profit growth: The company’s bottom line has grown significantly from FY25 onwards. Whether this growth trajectory is sustainable in a competitive, price-sensitive market remains a key question for investors to evaluate.
- Expansion execution risk: A significant portion of IPO proceeds, which consist of ₹97 crore, is allocated to setting up a new manufacturing facility at Manda, Rajasthan. Construction setbacks, regulatory hurdles, or budget issues could affect the timeline and returns from this investment.
- Debt on books: With total borrowings of approximately ₹50 crore as of FY26, the company carries debt that will need to be serviced alongside the capital expenditure planned through IPO proceeds.
Clay Craft India IPO Review
Clay Craft India IPO presents an opportunity to invest in a well-established ceramic tableware manufacturer. The company has reported growth in revenue and profitability, supported by a diversified product portfolio, strong distribution network, and experienced management. The GMP of ₹65, implying potential listing gains of around 32%, reflects positive market sentiment. However, investors should consider the competitive nature of the industry, expansion-related execution risks, and existing debt levels before investing.
The issue may appeal to investors with a long-term perspective, but the decision should be based on understanding the company’s fundamentals and valuation.
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Clay Craft India IPO FAQs
Clay Craft India IPO is a book-built SME public issue worth ₹110 crore. The issue consists entirely of a fresh issue of 54,24,000 shares and will be listed on the NSE SME platform.
Investors can apply through their stockbroker or banking platform using the ASBA facility. UPI-based applications can also be submitted through supported broker apps and online investment platforms.
The IPO offers exposure to an established ceramic tableware manufacturer with a diversified product portfolio, expanding capacity, and improving financial performance. However, investors should also consider industry competition, execution risks, and valuation before investing.
Based on the latest GMP of ₹65, the shares are expected to list around ₹268 against the upper price band of ₹203, implying potential listing gains of approximately 32.02%.
The IPO will open for subscription on June 17, 2026, and will close on June 19, 2026.
Each lot consists of 600 shares. The minimum application size is 2 lots (1,200 shares), requiring an investment of ₹2,43,600 at the upper price band.
The allotment for the Clay Craft India IPO is expected to be finalised on June 22, 2026.
The shares of Clay Craft India are proposed to be listed on the NSE SME platform on June 24, 2026.
