Listing Performance
Listed
Issue Price
₹203
Listed On
24 Jun 2026
- Price Band
- ₹193 – ₹203
- Lot Size
- 600
- Lot Value
- ₹1,21,800
- Open Date
- 17 Jun 2026
- Close Date
- 19 Jun 2026
- Min Investment
- ₹1,21,800
Clay Craft India — Live Stock Performance
IPO Timeline
Issue Opens
17 Jun 2026 · Wed
Issue Closes
19 Jun 2026 · Fri
Bidding Cut-off (UPI Mandate)
19 Jun 2026 · 5:00 PM IST
Allotment
22 Jun 2026 · Mon
Listing
24 Jun 2026 · Wed
About Clay Craft India
Clay Craft India Limited is a ceramic tableware manufacturer with manufacturing facilities in Jaipur & Manda, Rajasthan. The company produces ceramic tableware products sold through distributors, retailers, large-format stores, and online platforms.
Manufactures and sells ceramic tableware products including mugs, dinnerware, and other tableware items through a distribution network of distributors, retailers, and e-commerce platforms.
Investment Analysis
Quick Analysis: 6 strengths · 6 risk factors· Exchange: NSE SME
Strengths (6)
- •Integrated and scalable manufacturing capabilities
- •Experienced promoter and management team
- •In-house design development with quality and innovation focus
- •Diversified product portfolio
- •Extensive distribution network and multi-channel presence
- •Track record of healthy financial performance
Risk Factors (6)
- •First issue with no formal market; Issue Price may not reflect post-listing market price; no assurance of active trading
- •Significant differences between Indian GAAP and other accounting principles (Ind AS, IFRS, US GAAP) may impact financial assessments
- •Investments in equity securities involve risk of total loss; investors must afford to lose entire investment
- •No SEBI recommendation or approval; SEBI does not guarantee accuracy or adequacy of Red Herring Prospectus
- •Company operates in ceramics tableware industry; subject to market demand, competition, and economic cycle risks
- •SME Platform listing on NSE Emerge may have lower liquidity and trading volume compared to main board exchanges
📊 Algorithmic Score
Computed from issue structure — GMP, fresh issue %, OFS %, issue size
Why do these differ? The Algorithmic Score measures issue quality (structure, size, promoter commitment). The Demand Analysis measures investor interest signals (subscription, GMP, risks). A high-quality issue can still have unconfirmed demand — especially before subscription opens.
✍️ Demand & Risk Analysis
Based on market demand signals — subscription, GMP trend, risk factors
IPO Market Analysis
“Grey market premium is positive at +20%, but subscription data is not yet available so demand cannot be confirmed. A cautious, limited-data view — weigh the company fundamentals before applying.”
- ✅Positive GMP +20%
- ✅6 business strengths identified
- ⚠️6 risk factors noted
This is algorithmic analysis, not investment advice. Always read the DRHP before investing.
IPO Details
| Registrar | — |
| Exchange | NSE SME |
| ISIN | — |
| Face Value | — |
| Issue Size | ₹110.11 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | HEM SECURITIES LIMITED |
Company Fundamentals
10 sections extracted from this filingCapital Structure
| Authorised Capital | — |
| Issued Capital | — |
| Paid-up Capital | ₹15.15 Cr |
| Equity Shares (Pre-Issue) | 50,48,760 |
| Equity Shares (Post-Issue) | — |
Source: Clay Craft India offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Clay Craft India's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Clay Craft India's filing.
Source: Clay Craft India offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
No offer-for-sale component (or sellers not disclosed).
Source: Clay Craft India offer document (DRHP/RHP).
Board & Management
Board of Directors (8)
- Rajesh Narain Agarwal₹2.03 Cr p.a.
Whole-Time Director
Bachelor's Degree in Arts from University of Rajasthan
36 years in manufacturing of ceramic tableware products
- Vikas Agarwal₹1.57 Cr p.a.
Managing Director
Bachelor's Degree in Engineering in Cement & Ceramic Technologies from Gulbarga University; Fellow Member of the Indian Institute of Ceramics
27 years in ceramic tableware industry
- Bharat Agarwal₹1.72 Cr p.a.
Whole-Time Director
Master's Degree in Business Administration from Gujarat University
25 years in ceramic tableware industry
- Deepak Agarwal₹1.72 Cr p.a.
Whole-Time Director & Chief Financial Officer
Bachelor of Business Management from Bangalore University; Master's Degree in Business Administration from Cardiff University, United Kingdom
16 years in ceramic tableware products, business administration, sales, marketing, accounts, finance, taxation
- Ashok Kumar Bhargava
Independent Director
B.Sc., M.A. (Economics), LLB, Post Graduate Diploma in Project Planning & Infrastructure Management (PGDPPIM) from University of Rajasthan, Master of Financial Management (MFM) from University of Mumbai, Diploma in Business Finance (DBF), Certified Associate of Indian Institute of Bankers (CAIIB)
40 years in banking and financial institutions
- Kanan Shah
Independent Director
Master's Degree in Business Administration from The ICFAI Foundation for higher education University at Hyderabad
2 years in managing day-to-day affairs of the company
- Nirmal Badri Prasad Joshi
Independent Director
Bachelor of Technology (Agriculture) from University of Udaipur; MBA from Mohanlal Sukhadia University, Udaipur
35 years in public sector banking industry
- Prakash Dangayach
Independent Director
Chartered Accountant (qualified 2003); Certificate of Practice (2006)
20 years in accounting, taxation, audit, and financial advisory
Key Managerial Personnel (2)
- Deepak Agarwal₹1.72 Cr p.a.
Chief Financial Officer
Bachelor of Business Management from Bangalore University; Master's Degree in Business Administration from Cardiff University, United Kingdom
16 years in ceramic tableware products, business administration, sales, marketing, accounts, finance, taxation
- Anil Kumar Sharma
Company Secretary & Compliance Officer
Source: Clay Craft India offer document (DRHP/RHP).
Industry & Market
Per Industry Report on Ceramics by Dun & Bradstreet (January 2026), a report commissioned by the company (not independent).
Use of IPO Proceeds
Total allocation: ₹97.00 Cr (excludes issue expenses)
Promoters
Rajesh Narain Agarwal
Whole Time Director · age 71
36 years of experience in the Ceramic Tableware Industry
Pre-issue: 16.83% · Post-issue: 12.15%
Bharat Agarwal
Whole Time Director · age 48
Approximately 25 years of experience in the Ceramic Tableware Industry
Pre-issue: 16.83% · Post-issue: 2.92%
Vikas Agarwal
Managing Director · age 49
Approximately 27 years of experience in the Ceramic Tableware Industry
Pre-issue: 16.83% · Post-issue: 2.92%
Deepak Agarwal
Whole Time Director & Chief Financial Officer · age 37
Approximately 16 years of experience in the Ceramic Tableware Industry
Pre-issue: 16.83% · Post-issue: 2.92%
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (13 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 600 | ₹1,21,800 |
| Retail (max) | 13 | 7,800 | ₹15,83,400 |
| S-HNI (min) | 14 | 8,400 | ₹17,05,200 |
| S-HNI (max) | 66 | 39,600 | ₹80,38,800 |
| B-HNI (min) | 67 | 40,200 | ₹81,60,600 |
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Clay Craft India Limited | — | 17.84 | 16.27 | 109.64 |
Material Litigation
Clay Craft India is involved in customs duty classification litigation involving alleged evasion of ₹62.73 lakhs in customs duty on imported Apatite Calcium Phosphate (with penalties of ₹62.73 lakhs), with criminal proceedings filed against the Company and its Managing Director Vikas Agarwal in June 2025, currently pending cognizance. The Company and Vikas Agarwal have also filed appeals challenging these orders before the High Court of Rajasthan.
Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
3-Year Financial Summary
Revenue trend
↑ FY24→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 151.94 | 20.76 | 17.84 | — | 16.27% |
| FY24 | 145.43 | 13.5 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY24 | FY25 |
|---|---|---|
| EBITDA | 28.65 | 35.39 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
11.4x
Price ÷ EPS
EPS (FY25)
₹18
Earnings per share
RoNW
16.27%
Return on net worth
ROCE
18.26%
as reported in filing
EBITDA margin
23.3%
EBITDA ÷ revenue
Price/NAV
1.85x
Price ÷ NAV (as reported)
Subscription Status
| Category | Day 2 | Day 3 |
|---|---|---|
| QIB | — | — |
| sNII (S-HNI) | — | — |
| bNII (B-HNI) | — | — |
| Retail | — | — |
| Total | — | — |
Colour: red <1x · green 1–5x · blue 5–10x · orange >10x.
Allotment Statistics
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Recently Listed IPOs
| Company | Listed | Listing Gain |
|---|---|---|
| Sham Foam | 18 Aug 2026 | — |
| Optimystix Entertainment India Limited | 14 Aug 2026 | — |
| Lapl Automotive Limited | 13 Aug 2026 | — |
Related IPOs
Documents
Frequently Asked Questions
When is the Clay Craft India IPO opening?
The Clay Craft India IPO opens on 17 Jun 2026 and closes on 19 Jun 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Clay Craft India IPO?
The price band for the Clay Craft India IPO is ₹193 to ₹203. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Clay Craft India IPO?
The minimum lot size is 600 shares with a minimum investment of ₹1,21,800. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Clay Craft India IPO today?
The latest Grey Market Premium for Clay Craft India is ₹41 (+20.20%). GMP is unofficial data and is not a guarantee of listing price.
When will the Clay Craft India IPO list on NSE and BSE?
The Clay Craft India IPO is expected to list on 24 Jun 2026 on NSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the Clay Craft India IPO allotment status?
You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Clay Craft India IPO a mainboard or SME issue?
Clay Craft India is a SME IPO that will list on the NSE Emerge or BSE SME platform. SME IPOs require a minimum application value of one lakh rupees.
How do I apply for the Clay Craft India IPO?
You can apply for the Clay Craft India IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA. Use the Apply Now buttons on this page to go directly to the broker.
What is the expected listing price of Clay Craft India IPO?
Based on the current GMP of ₹41, the expected listing price of Clay Craft India is ₹244 (issue price ₹203 + GMP ₹41). Note that GMP is unofficial grey market data and actual listing price may differ.
Should I subscribe to Clay Craft India IPO?
Based on our algorithmic analysis, Clay Craft India IPO is rated NEUTRAL with medium confidence. Grey market premium is positive at +20%, but subscription data is not yet available so demand cannot be confirmed. A cautious, limited-data view — weigh the company fundamentals before applying. This is not investment advice — please read the DRHP and consult a financial advisor before investing.
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