Clay Craft IPO
Grey Market Premium (GMP)
GMP applies before listing only. This IPO has listed — see Listing Performance below for the actual debut.
Subscription Status
| Category | Subscription |
|---|---|
| QIB | 119.19x |
| NII | 153.95x |
| Retail (RII) | 71.76x |
| Total | 103.06x |
Bidding day 3 · final figures at close of bidding: 15 Jul 2026, 12:00 am IST
IPO Details
- Open Date
- 17 Jun 2026
- Close Date
- 19 Jun 2026
- Listing Date
- 24 Jun 2026
- Face Value
- ₹10
- Fresh Issue
- ₹104.58 Cr
- OFS
- ₹0 Cr
- Listing On
- NSE
- Registrar
- —
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,200 | ₹2,43,600 |
| HNI (Min) | 3 | 1,800 | ₹3,65,400 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| Anchor | 15,43,800 | 29.97% |
| QIB (ex-anchor) | 10,30,200 | 20% |
| NII | 7,74,000 | 15.02% |
| — sNII (< ₹10L) | 2,58,000 | 5.01% |
| — bNII (> ₹10L) | 5,16,000 | 10.02% |
| Retail | 18,03,600 | 35.01% |
| Total | 51,51,600 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings |
|---|---|---|---|---|---|---|
| FY 2025 | 154.44 | 20.76 | 35.39 | 139.05 | 217.39 | 47.75 |
| FY 2026 | 184.57 | 27.01 | 41.96 | 166.06 | 251.95 | 49.98 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 11.38x
- P/E (post-issue)
- 15.46x
- RoNW
- 16.27%
- RoE
- 17.71%
- RoCE
- 18.26%
- Debt / Equity
- 0.3
- EPS (pre-issue)
- ₹17.84
- EPS (post-issue)
- ₹13.13
- EBITDA Margin
- 23.33%
- PAT Margin
- 15.02%
- P/BV
- 1.85x
- NAV / share
- ₹109.64
- Market Cap
- ₹417.58 Cr
As of 31 Mar 26 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| To fund capital expenditure towards setting up an additional manufacturing facility at Manda, Rajasthan | ₹97 Cr |
| General Corporate Purposes | ₹0.02 Cr |
| Issue Expenses | ₹13.09 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| Book Running Lead Manger Fees including Underwriting fees | ₹7.15 Cr |
| Fees Payable to Registrar to the Issue | ₹0.03 Cr |
| Fees Payable for Advertising and Publishing Expenses | ₹0.24 Cr |
| Fees Payable to Regulators including Stock Exchange | ₹0.13 Cr |
| Payment for Printing & Stationery, Postage, etc. | ₹0.01 Cr |
| Fees Payable to Auditor, Legal Advisors and other Professionals | ₹0.22 Cr |
| Others, if any (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, Processing Fees*, and Miscellaneous Expenses) | ₹5.32 Cr |
Promoters & Shareholding
Promoters: Rajesh Narain Agarwal, Vikas Agarwal, Bharat Agarwal and Deepak Agarwal
- Holding (pre-issue)
- 100%
- Holding (post-issue)
- 73.63%
- Dilution
- 26.37%
Documents
Anchor Investors
| Investor | Category | Shares | Price | Amount ₹Cr | Allocation |
|---|---|---|---|---|---|
| MOTILAL OSWAL FINVEST LTD. | Other | 2,41,200 | ₹203 | 4.9 | 15.62% |
| SANSHI FUND-I | Other | 2,41,200 | ₹203 | 4.9 | 15.62% |
| SHUBHKAM VENTURES (INDIA) PVT.LTD. | Other | 2,41,200 | ₹203 | 4.9 | 15.62% |
| NAVBHARAT INVESTMENT TRUST-NAVBHARAT INVESTMENT OPPORTUNITIES FUND | Other | 74,400 | ₹203 | 1.51 | 4.82% |
| TIGER STRATEGIES FUND 1 | Other | 74,400 | ₹203 | 1.51 | 4.82% |
| SMALL INDUSTRIES DEVELOPMENT BANK OF INDlA | Bank | 73,800 | ₹203 | 1.5 | 4.78% |
| EKAMYA PRAGATI SCHEME 1 | Other | 49,800 | ₹203 | 1.01 | 3.23% |
| FINAVENUE CAPITAL TRUST-FINAVENUE GROWTH FUND | Other | 49,800 | ₹203 | 1.01 | 3.23% |
| FINVESTA FIRST | Other | 49,800 | ₹203 | 1.01 | 3.23% |
| HEM GROWTH OPPORTUNITIES FUND | Other | 49,800 | ₹203 | 1.01 | 3.23% |
| INDIA MAX INVESTMENT FUND LTD. | Other | 49,800 | ₹203 | 1.01 | 3.23% |
| INNOVATIVE VISION FUND | Other | 49,800 | ₹203 | 1.01 | 3.23% |
| KUBER INDIA FUND | Other | 49,800 | ₹203 | 1.01 | 3.23% |
| RAJASTHAN GLOBAL SECURITIES PVT.LTD. | FII/FPI | 49,800 | ₹203 | 1.01 | 3.23% |
| SB OPPORTUNITIES FUND II | Other | 49,800 | ₹203 | 1.01 | 3.23% |
| SUNRISE INVESTMENT TRUST-SUNRISE INVESTMENT OPPORTUNITIES FUND | Other | 49,800 | ₹203 | 1.01 | 3.23% |
| TATTVAM AIF TRUST-Aanjay Ageless AIF Fund | Other | 49,800 | ₹203 | 1.01 | 3.23% |
| VIKASA INDIA EIF I FUND-INCUBE GLOBAL OPPORTUNITIES | FII/FPI | 49,800 | ₹203 | 1.01 | 3.23% |
Anchor bidding took place on 16 Jun 2026. Anchor lock-in: 50% of shares unlock on 22 Jul 2026, the remainder on 20 Sept 2026.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | Statements |
|---|---|---|---|---|---|
| Clay Craft | 17.84 | — | — | 16.27% | Consolidated |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Listing Performance
About the Clay Craft IPO
The Clay Craft SME IPO opens for subscription on 17 Jun 2026 and closes on 19 Jun 2026, offered at a price band of ₹193–203 per share, and is set to list on NSE. In total, the issue aims to mobilise ₹104.58 crore. Retail investors bid in lots of 600 shares, a minimum application of ₹2,43,600.
Issue structure
The IPO is structured entirely as a fresh issue of ₹104.58 crore, so the full proceeds flow to the company to fund its stated objects of the issue.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward to fund capital expenditure towards setting up an additional manufacturing facility at manda, rajasthan (₹97 crore), alongside issue expenses (₹13.09 crore). In all, 3 objects are disclosed — the full break-up is in the table above.
Financials
In FY2026, Clay Craft reported revenue of ₹184.57 crore and a net profit of ₹27.01 crore. Revenue grew from ₹154.44 crore in FY2025 to ₹184.57 crore in FY2026 (+20.0%). Net worth stood at ₹166.06 crore at the end of FY2026.
Valuation
At the upper band, the issue is priced at 15.46× post-issue earnings and 1.85× book value, against a return on net worth of 16.27% and a debt-to-equity ratio of 0.3. These ratios come from the offer document and are for comparison, not a recommendation.
Promoters
The promoters of the company are Rajesh Narain Agarwal, Vikas Agarwal, Bharat Agarwal and Deepak Agarwal. Promoter holding stands at 100% before the issue and comes down to 73.63% after listing.
Grey market premium (GMP)
In the unofficial grey market, Clay Craft shares are quoted at a premium of ₹35 implying an expected listing around ₹238, about +17.2% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Clay Craft IPO was subscribed 103.06 times overall. The strongest demand came from non-institutional investors (NII) at 153.95 times, with qualified institutional buyers (QIB) at 119.19× and retail investors at 71.76×.
Listing performance
Clay Craft listed on 24 Jun 2026 at ₹211, a premium of +3.9% over the issue price of ₹203.
What to weigh
When evaluating the Clay Craft IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Clay Craft
Incorporated on July 30, 1994, Clay Craft India Ltd. is manufacturers of bone china crockery and ceramic tableware. The company specializes in high-quality dining products including plates, cups, saucers, mugs, and other kitchenware that are widely used in households, hotels, and corporate gifting. It is well-known for innovative designs, durability, and stylish finish in its product range. The company also offer customized ceramic solutions for corporate and institutional clients based on specific requirements and have developed a product range for the HoReCa (Hotel, Restaurant, and Catering) segment to meet the operational needs of the industry. As of March 31, 2025, the company offer approximately 6,270 stock-keeping units (“SKUs”) across various product categories under different brands. Products: Dinnerware Mugs Platters & accessories Tea & coffee service sets Others As of September 02, 2025, the company has a total strength of over 1,239 employees. Competitive Strengths: Integrated and Scalable Manufacturing Capabilities Experienced Promoter and Management team In house design development with focus towards quality and innovation Diversified product portfolio Extensive Distribution Network and multi-channel Presence
Clay Craft — Contact Details
- Registered office
- F-766 & F-766 A, Road No.1-D, Vishwakarma Industrial Area, Jaipur, Rajasthan, 302013
- Phone
- +91 1414107978
- Website
- www.claycraftindia.com/
- Registrar (IPO queries)
- claycraft.ipo@kfintech.com
Frequently asked questions
- What is the Clay Craft IPO price band?
- The Clay Craft IPO price band is ₹193 to ₹203 per share, with a lot size of 600 shares.
- What was the Clay Craft IPO GMP before listing?
- The final grey market premium recorded before the Clay Craft IPO listed was ₹35. The IPO listed on 24 Jun 2026 at ₹211, +3.9% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- When does the Clay Craft IPO open and close?
- The Clay Craft IPO opens on 17 Jun 2026 and closes on 19 Jun 2026.
- When is the Clay Craft IPO allotment and listing date?
- The shares are scheduled to list on 24 Jun 2026 on NSE.
- How many times was the Clay Craft IPO subscribed?
- The Clay Craft IPO was subscribed 103.06 times in total across all investor categories.
- What is the reservation split in the Clay Craft IPO?
- Of the total shares offered, retail investors get 35.01%, QIBs 20% (plus 29.97% anchor), non-institutional investors 15.02%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Clay Craft and what is their holding?
- The promoters are Rajesh Narain Agarwal, Vikas Agarwal, Bharat Agarwal and Deepak Agarwal. Promoter holding is 100% before the issue and 73.63% after listing.
- What is the P/E ratio of the Clay Craft IPO?
- At the upper price band, the Clay Craft IPO is valued at 11.38× pre-issue earnings and 15.46× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Clay Craft IPO?
- The net proceeds go primarily toward to fund capital expenditure towards setting up an additional manufacturing facility at manda, rajasthan, among 3 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Clay Craft IPO?
- The book-running lead manager is Hem Securities Ltd..
- Is Clay Craft a Mainboard or SME IPO?
- Clay Craft is an SME IPO, listing on NSE (SME platform).