Clay Craft India IPO
smelistedAbout the company
Incorporated in 1988, Clay Craft India is a manufacturer and distributor of ceramic tableware products in India. The company is engaged in the design, development, production and sale of a wide range of ceramic tableware, including dinner sets, tea and coffee serving sets, mugs, tumblers, platters, bowls, and table top accessories. Its product portfolio serves a diverse requirements of retail consumers, institutional buyers, and the hospitality industry. The company markets its products under its in-house brands “Clay Craft and JCPL” in addition to its proprietary brands. It also offers customised ceramic solutions for corporate and institutional clients based on specific requirements and has developed a product range for the HoReCa (Hotel, Restaurant, and Catering) segment to meet the operational needs of the industry. It has the capability to serve both broad-based and specialised demand segments, supported by its design and manufacturing infrastructure, which enables it to operate across domestic and select international markets. As of March 31, 2026, the company offers approximately 5,770 SKUs across various product categories under different brands. It caters to bulk orders from corporate clients and government departments, offering customised solutions as per their needs. It also markets its products through Griha, a retail store operated by its promoter group. Mugs and dinnerware made up ~76% revenue in FY26. Karnataka, Rajasthan, Haryana, Delhi and Tamil Nadu were the top five revenue-generating states, which together contributed 54.28% in FY26. Revenue generated by the Claycraft brand was ~85% and 13% from JCPL. Existing capacity in FY26 was 6000 MTPA with capacity utilisation at 82%. Domestic purchases were ~60%, and imports were 40% in FY26. Online sales was 4.5% (₹8.14 crore), and it has 132 distributors in FY26.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 19 Jun | ₹45 | ₹248 | -3 |
| 18 Jun | ₹48 | ₹251 | +15 |
| 17 Jun | ₹33 | ₹236 | -7 |
| 16 Jun | ₹40 | ₹243 | -25 |
| 15 Jun | ₹65 | ₹268 | -5 |
| 14 Jun | ₹70 | ₹273 | +10 |
| 13 Jun | ₹60 | ₹263 | +60 |
| 12 Jun | ₹0 | ₹203 | 0 |
Strengths
- Strong revenue and profit growth over the last financial year
- Established presence in the ceramic tableware and hospitality products segment
- Long operating track record with decades of industry experience
- Expanding manufacturing capacity to support future growth
- Healthy profitability and return ratios
- Reasonably valued compared to growth prospects
- Benefiting from rising demand from hospitality and institutional customers
- Positive grey market sentiment ahead of listing
Risks
- SME listing may result in lower liquidity after listing
- Business performance is linked to hospitality and consumer spending trends
- Expansion projects carry execution and cost-overrun risks
- Raw material and energy price fluctuations can impact margins
- Competition from domestic and imported ceramic products
- Higher minimum investment requirement compared to many mainboard IPOs
- SME stocks can witness sharp post-listing volatility
- Any slowdown in demand could affect future growth and profitability
Financial performance (₹ Cr)
Subscription breakup (final, times)
IPO Roadmap / Timeline
IPO Opens
Completed17 Jun 2026Bidding starts for all investor categories
IPO Closes
Completed19 Jun 2026Last day to place your bid
Basis of Allotment
Completed22 Jun 2026Share allotment finalised
Refund Initiation
Completed23 Jun 2026Refunds credited for non-allottees
Credit to Demat
Completed23 Jun 2026Allotted shares credited to demat account
Listing on Exchange
Completed24 Jun 2026Shares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 600 | ₹121,800 | 1 | ₹121,800 | 1 lot only |
| HNI | 2 | 1200 | ₹243,600 | 2 | ₹243,600 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 2,777,778 | 55 | 12,000,001 | 4.32x | 23.1% |
| NII | 15% | 833,333 | 16.5 | 4,408,332 | 5.29x | 18.9% |
| Retail | 35% | 1,944,445 | 38.5 | 3,091,668 | 1.59x | 62.9% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).
