Clay Craft Summary
Clay Craft operates in the industry of Ceramics and deals in production of bone china crockery and Ceramic Tableware. The company presents a wide range of premium quality tableware comprising plates, cups, saucers, mugs, platters, accessories, tea & coffee service and various other kitchenwares which are commonly used in domestic homes, hotels and in corporate gifting. The range of products can be availed via the B2B selling medium and the company enjoys a reputation in innovativeness, durability and elegant finish of its product line. The firm also provides customized ceramic solutions as per the requirement of corporations and institutions, and has developed a range of products especially catering to the requirements of the HoReCa industry.
As far as the operational structure is concerned, all the activities are conducted by the company in its factories. Its customers include both individuals and organizations such as hotels, business gift customers, and HoReCa businesses. The company will have no issue when it comes to generating a regular stream of income because it has about 6,270 stock-keeping units (SKUs) in multiple categories, a wide range of customers, its own design development process that emphasizes innovation and quality, and its comprehensive distribution network. On September 02, 2025, the company had a total workforce of 1,239 people.
Clay Craft Ltd is launching an NSE SME book-built IPO with a face value of ₹10 per share and a price band of ₹193.00–₹203.00 per share. The total issue size is ₹110.11 Cr, comprising a fresh issue of ₹104.58 Cr and ₹5.53 Cr reserved for the market maker. The issue is structured for QIB (including Anchor), NII, and Retail investors, and the tentative listing is on NSE SME on 24th June 2026.
Clay Craft IPO Details:
Clay Craft Limited Issue Management:
Hem Securities Ltd. acts as the book-running lead manager for Clay Craft NSE SME IPO, managing underwriting and compliance.
Clay Craft Limited IPO RTA (Registrar) Details:
Kfin Technologies Ltd. handles allotment, refunds, and demat credits - contact at 04067162222, 04079611000 or claycraft.ipo@kfintech.com.
Clay Craft Limited IPO Allotment Status:
To check your IPO allotment status:
Visit the Kfin Technologies Ltd. IPO Application Status page.
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Select and enter PAN, Application Number, DP/Client ID, or Account Number/IFSC.
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Clay Craft SME IPO totals ₹110.11 Cr, comprising a fresh issue of ₹104.58 Cr and ₹5.53 Cr reserved for the market maker. The face value is ₹10 per share and the price band is ₹193.00–₹203.00 per share (book-built issue on NSE SME).
Clay Craft Limited IPO proceeds from the fresh issue will be deployed towards:
Clay Craft IPO offers 54,24,000 equity shares (total issue ₹110.11 Cr, net offer to public 51,51,600 shares after market-maker reservation).
The anchor bidding for Clay Craft India Ltd. SME IPO is scheduled one working day before the issue opens on 17th June 2026 (i.e., 16th June 2026), and anchor investors will be allotted shares from the QIB portion (within the overall QIB tranche, as per SME-IPO structure). As per the IPO reservation details, the QIB portion (including anchor) accounts for about 49.97% of the net issue size, with anchor investors getting 28.46% of net issue (15,43,800 shares) and the remainder QIB (ex-anchor) getting 18.99% (10,30,200 shares). The NII (HNI) portion is 15.02% and the Retail portion is 35.01%.
Lock-in: The anchor allocation follows standard SME IPO norms, where 50% of the anchor shares are locked in for 30 days and the remaining 50% for 90 days from the listing date. The issue is scheduled to list on 24th June 2026 on NSE SME.
The anchor allocation details and investor list will be disclosed in the anchor book before the IPO opening. Hem Securities Ltd. is the Book Running Lead Manager (BRLM) to the issue, and the registrar for the IPO is Kfin Technologies Ltd.
Profitability of the company stems from the fact that the company emphasizes production of bone china crockery and ceramics including plates, cups, saucers, mugs, platters, accessories and tea & coffee sets. Some of the key profitability drivers to the organization include manufacture & sales of dinnerware, mugs, platters, tea & coffee sets, customized ceramic offerings for corporate/institutional clientele, and HoReCa segment products.
In terms of financial performance, Clay Craft has been growing steadily. The company’s income rose from ₹136.05 crore in FY25 to ₹184.57 crore in FY26. The net profit after tax has risen from ₹20.75 crore in FY25 to ₹27.01 crore in FY26. The earnings before interest, taxes, depreciation and amortization came in at ₹35.39 crore in FY25 and improved to ₹41.96 crore in FY26. The margins are positive with EBITDA margins standing at 23.33% and PAT margin at 15.02% in FY26. The return on equity and capital employed stand at 17.71% and 18.26% in FY26.
Action Links:
To apply for Clay Craft Limited IPO, open a demat account here
Clay Craft Limited IPO Subscription Status: Check live subscription here
Clay Craft Limited IPO GMP Update: Check latest grey market premium here
Clay Craft Key Highlights:
Clay Craft India Limited is involved in manufacturing of ceramic products such as bone china crockery and ceramic tableware. Products manufactured by Clay Craft include dinner ware, mugs, platters & accessories, tea/coffee service sets, and other items of kitchen ware utilized by consumers in their homes, hotels, and as corporate gifts.
Strengths of Clay Craft include integration and scalability of production capabilities, experienced promoters & management team, internal design development emphasizing quality & innovation, wide range of product portfolio (6,270 SKUs) and vast distribution network. There are 1,239 employees working for the company as of Sept. 2025.
In its recent financial performance, Clay Craft reported total income of ₹136.05 crore in FY25 and ₹184.57 crore in FY26, while PAT went up from ₹20.75 crore in FY25 to ₹27.01 crore in FY26. EBITDA rose from ₹35.39 crore in FY25 to ₹41.96 crore in FY26, with EBITDA margin standing at 23.33% and PAT margin at 15.02%. ROE & ROCE of the company stand at 17.71% and 18.26%, respectively. Net worth has risen from ₹139.05 crore in FY25 to ₹166.06 crore in FY26.
Clay Craft Risk Factors:
The risks of Clay Craft Limited IPO are mentioned below:
Dependence on HoReCa and Corporate segments: Dependence on Hotel, Restaurant, Catering segment and Corporate Gifting Clients. Any downturn in hospitality operations or corporate expenditure can have an adverse effect on the top-line.
Price Volatility of Raw Materials: Dependency on the availability of raw materials such as clay, minerals, etc., for manufacturing of ceramics. Price volatility in raw materials could adversely impact profitability.
Environmental Regulations Related Risks: Manufacturing process is dependent on environmental regulations such as emissions, waste management and water usage. Non-compliance of which poses risks.
Risks relating to Liquidity due to NSE SME Listing: Listing on the NSE in the SME segment with an issued value of ₹110.11 Cr and market capitalization of ₹417.58 Cr.
Borrowings: Outstanding borrowings of ₹49.98 crore during FY26 (₹47.75 crore in FY25).
Promoters' Risk from Post-IPO Dilution: The post-IPO stake of promoters comes down to 73.63% from 100% earlier (post-IPO dilution of 26.37%).
Risk pertaining to Execution of the Capital Expenditure: The proposed Capex of ₹97.00 Cr for establishment of new manufacturing facilities at Manda, Rajasthan.
Risk of Customer Concentration: Dependence on the HoReCa segment and corporations; delays in payments and cancellation of orders may affect revenues.
Presence of Competitors in the Ceramics Business: Competition in the ceramics sector may affect market share.
Clay Craft Expert Analysis:
Clay Craft's SME IPO (NSE SME) is a book-built issue with a price band of ₹193.00–₹203.00 per share (face value ₹10). The total issue size is ₹110.11 Cr, comprising a fresh issue of ₹104.58 Cr and ₹5.53 Cr reserved for the market maker. The IPO is structured for QIB (49.97% including anchor), NII (15.02%), and Retail (35.01%) investors, with the tentative listing on NSE SME on 24th June 2026.
Basic details of the IPO:
Type of IPO: Book‑built SME IPO (NSE SME)
Uses of funds: Capital expenditure for additional manufacturing facility at Manda, Rajasthan (₹97.00 Cr), General corporate purposes (₹7.58 Cr)
Anchor bidding: 16th June 2026 | Opens 17th June 2026 | Closes 19th June 2026 | Allotment 22nd June 2026 | Listing 24th June 2026 (NSE SME).
Lead Manager: Hem Securities Ltd. | Registrar: Kfin Technologies Ltd.
Expert View on the IPO:
Clay Craft is a niche ceramics producer offering bone china crockery and ceramics tableware products with financials indicating consistent profitability growth (PAT has grown from ₹20.75 Cr in FY25 to ₹27.01 Cr in FY26, ~30%). The equity share of the company has a P/E ratio of 11.38x before the IPO and 15.46x after the IPO as well as a P/B ratio of 1.85x. Clay Craft provides moderate growth potential in comparison to its peers but faces risks such as cyclical industry risk, volatile input prices, environmental regulations, debt of ₹49.98 Cr, listing risk due to SME status, heavy promoter share dilution from 100% to 73.63%, and capex risk at Manda, Rajasthan worth ₹97.00 Cr.
Should you invest in Clay Craft India?
An investor looking for a small-cap ceramics manufacturing company listed on the SME board, with steady growth trajectory (~30% PAT growth in 1 year), moderate ROE (17.71%) and ROCE (18.26%), and exposure to India's growing hospitality and corporate gifting sectors might find the IPO of Clay Craft interesting provided that he can handle SME listing limitations, raw material price volatility, environmental compliance, moderate debt burden, and promoter dilution.
Consider investing when:
It is necessary to be exposed to the manufacturing process of Bone China crockery and ceramic dinnerware (crockery, mugs, platters, tea/coffee set) to suit households, hotels, corporate gifting purposes, and HoReCa segment with ROE and ROCE levels of 17.71% and 18.26%, respectively.
Lack of illiquidity issues related to small-cap listed stock, fluctuating prices of input materials, environmental regulations, medium debt level of ₹49.98 Crore, and promoter dilution issue (26.37%) do not pose any issues.
Management is confident about using the IPO money towards capital expenditure to set up an additional plant in Manda, Rajasthan (₹97.00 Crore).
Future scope for the company lies on the increasing activity of the hospitality sector and demand for corporate gifting.
Do not invest when:
You should consider investing in companies in the ceramics sector having diversified sources of raw materials, various factories, and minimal debts.
You are concerned about the liquidity risk in small and medium-sized company equities, raw material cost risk, environmental risk, borrowings (₹49.98 Crore), and promoter dilution risk.
Promoter dilution (100% to 73.63% following IPO), capital expenditure risk on the new factory, and customer risk (HoReCa segment) do not suit you.
You are interested in companies that are undervalued (PE < 10) or companies with low debt equity ratios.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is for informative purposes and not investment advice.
Action Links:
To apply for Clay Craft Limited IPO, open a demat account here
Clay Craft Limited IPO Subscription Status: Check live subscription here
Clay Craft Limited IPO GMP Update: Check latest grey market premium here
1. What is the Clay Craft Limited IPO open and close date?
Clay Craft SME IPO opens on 17th June 2026 and closes on 19th June 2026. The tentative listing date on NSE SME is 24th June 2026.
Track Clay Craft Limited IPO subscription status live here from Finnpick.
2. What is the Clay Craft Limited IPO price band and lot size?
The IPO is a book-built SME issue with a price band of ₹193.00–₹203.00 per share (face value ₹10). The minimum bid for retail investors is 1,200 shares (2 lots), with subsequent bids in multiples of 600 shares. Minimum investment is ₹2,43,600.
3. What is Clay Craft Limited IPO total size?
The total issue size is ₹110.11 Cr, comprising a fresh issue of ₹104.58 Cr and ₹5.53 Cr reserved for the market maker. The net offer to the public is 51,51,600 shares (25,74,000 to QIB including 15,43,800 anchor, 7,74,000 to NII, 18,03,600 to Retail), after excluding 2,72,400 shares for Market Maker.
4. How to apply for the Clay Craft Limited IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or apply ASBA by June 19, 4 PM. Monitor Clay Craft Limited IPO subscription tracker here. Ensure your demat account is active and UPI mandate is approved before the closing time.
5. How to check Clay Craft Limited IPO Allotment Status?
The allotment date is on June 22nd and can be checked on Kfin Technologies Ltd. RTA portal using PAN/DP ID.
6. What is Clay Craft Limited IPO GMP today and subscription status?
Current Grey Market Premium (GMP) stands at ₹0 as of June 12, indicating listing at the price range of ₹203 - check daily updates of Clay Craft Limited IPO GMP trends here and live subscription status here from June 17th opening only on Finnpick.
7. What does Clay Craft Limited specialize in?
Clay Craft is engaged in manufacturing ceramics, specifically bone china crockery and ceramic tableware including dinnerware, mugs, platters & accessories, tea & coffee service sets, and customized ceramic solutions for corporate/institutional clients. The company offers approximately 6,270 SKUs across product categories and serves households, hotels, corporate gifting clients, and HoReCa segment with over 1,239 employees as of September 2025.
8. When is the Clay Craft Limited IPO listing date?
The IPO is scheduled to list on NSE SME on 24th June 2026, subject to final confirmation from the exchange. Basis of allotment is tentatively on 22nd June 2026, with refunds and demat credits around 23rd June 2026.
9. What are the Clay Craft Limited IPO proceeds utilization details?
The IPO proceeds will primarily be utilized towards: Capital expenditure for additional manufacturing facility at Manda, Rajasthan: ₹97.00 Cr, General corporate purposes: ₹7.58 Cr
10. Who are the promoters of Clay Craft Limited?
The promoters of Clay Craft India Ltd. are Rajesh Narain Agarwal, Vikas Agarwal, Bharat Agarwal, and Deepak Agarwal. Pre-IPO promoter holding is 100%, which will dilute to 73.63% post-IPO (26.37% dilution).
11. Should I apply for the Clay Craft IPO?
You may consider applying if you are comfortable with an SME-listed ceramics manufacturing business (bone china crockery, ceramic tableware) with steady growth trajectory (~30% PAT growth from ₹20.75 Cr in FY25 to ₹27.01 Cr in FY26), moderate ROE (17.71%) and ROCE (18.26%), and exposure to India's hospitality and corporate gifting sectors. Avoid if you are risk-averse to SME listing liquidity constraints, raw material price volatility, environmental compliance risks, moderate borrowings (₹49.98 Cr), significant promoter dilution (26.37%), and capex execution risk for new facility at Manda, Rajasthan (₹97.00 Cr). This is for informational purposes only and not investment advice; read the RHP/DRHP and consult a SEBI-registered advisor before investing.
