Clay Craft SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
Day-wise premium · 7 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 24 Jun 2026 | ₹35 | +17.24% | ₹16,000 | ₹238 | ₹21,000 |
| 23 Jun 2026 | ₹35 | +17.24% | ₹16,000 | ₹238 | ₹21,000 |
| 22 Jun 2026 | ₹43.5 | +21.43% | ₹19,800 | ₹246.5 | ₹26,100 |
| 21 Jun 2026 | ₹45 | +22.17% | ₹20,500 | ₹248 | ₹27,000 |
| 20 Jun 2026 | ₹45 | +22.17% | ₹20,500 | ₹248 | ₹27,000 |
| 19 Jun 2026 | ₹42 | +20.69% | ₹19,200 | ₹245 | ₹25,200 |
| 18 Jun 2026 | ₹48 | +23.65% | ₹21,900 | ₹251 | ₹28,800 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 17 Jun 2026 – 19 Jun 2026
- Listing date
- 24 Jun 2026
- Face value
- ₹10 per share
- Price band
- ₹203
- Issue price
- ₹203 per share
- Lot size
- 600 shares
- Issue type
- Book Building issue
- Listing at
- NSE SME
- Total issue size
- ₹110 Cr
- Market cap at offer price
- ₹418 Cr
- Promoter holding
- 100.00% → 73.63% pre-issue → post-issue
- ISIN
- INE1QGM01024
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Hem Securities Ltd.
- Registered office
- F-766 & F-766 A, Road No.1-D, Vishwakarma Industrial Area, Rajasthan
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 15,43,800 | — | — |
| Market maker | 2,72,400 | — | — |
Application size
Minimum 600 shares per lot, in multiples, at ₹203
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 600 | ₹1,21,800 |
| S-HNI (min) | 2 | 1,200 | ₹2,43,600 |
| S-HNI (max) | 8 | 4,800 | ₹9,74,400 |
| B-HNI (min) | 9 | 5,400 | ₹10,96,200 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹203 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 17.84 | 13.13 |
| P/E (×) | 11.38 | 15.46 |
| Price to book (×) | 1.85 | — |
| Market cap | — | ₹418 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 16.27%
- ROCE
- 18.26%
- Debt / equity
- 0.30
- PAT margin
- 15.02%
- EBITDA margin
- 23.33%
- NAV per share
- ₹109.64
- Price to book
- 1.85
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Clay Craft SME
Clay Craft India Limited (CCIL) was originally incorporated on October 31, 1988 as Clay Craft India Private Limited in Jaipur, Rajasthan, and converted into a public limited company (renamed Clay Craft India Limited) pursuant to a shareholder resolution of June 26, 2025 and a fresh certificate of incorporation dated July 15, 2025. In 2025 the group underwent a reorganisation whereby Eklingji Industries Private Limited amalgamated into the Company under an NCLT order dated May 23, 2025 (appointed date April 1, 2024). CCIL designs, develops, manufactures and sells a wide range of ceramic tableware — dinner sets, tea and coffee serving sets, mugs, tumblers, platters, bowls and tabletop accessories — addressing retail consumers, institutional buyers and the hospitality industry (hotels, restaurants, catering/HORECA). It operates manufacturing facilities at Vishwakarma Industrial Area (VKI), Jaipur and Manda, Rajasthan with an aggregate installed capacity of 6,000 MT p.a. (utilization of 82% in FY2026), using raw materials such as natural calcium phosphate, kaolin, feldspar, Bentonite, ceramic colour, transfer paper and decal gold paste. The Company makes money principally by selling finished ceramic tableware under its in-house brands 'Clay Craft' (Rs. 15190.34 Lakhs, 84.44% of FY2026 revenue) and 'JCPL' (Rs. 2339.55 lakhs, 13.01% of FY2026 revenue), deriving over 90% of revenue from these brands, distributed through a network of distributors, retailers, large-format retail stores and online platforms under largely non-exclusive arrangements; it also undertakes contract design, development and manufacturing for certain customers, while direct export sales are marginal (Rs. 29.33 lakhs in FY2026). For Fiscal 2026 (consolidated), revenue from operations were Rs. 17,988.67 lakhs, EBITDA Rs. 4,195.94 lakhs and PAT Rs. 2,701.49 lakhs; the Company had 1,392 full-time employees as on March 31, 2026.
Company Analysis
from DRHPClay Craft India Limited is a Jaipur-based manufacturer and distributor of ceramic tableware — dinner sets, tea and coffee serving sets, mugs, tumblers, platters, bowls and tabletop accessories — sold under its in-house brands 'Clay Craft' and 'JCPL' to retail consumers, institutional buyers and the hospitality (HoReCa) industry.
Clay Craft India Limited (CCIL) was originally incorporated on October 31, 1988 as Clay Craft India Private Limited in Jaipur, Rajasthan, and converted into a public limited company (renamed Clay Craft India Limited) pursuant to a shareholder resolution of June 26, 2025 and a fresh certificate of incorporation dated July 15, 2025. In 2025 the group underwent a reorganisation whereby Eklingji Industries Private Limited amalgamated into the Company under an NCLT order dated May 23, 2025 (appointed date April 1, 2024). CCIL designs, develops, manufactures and sells a wide range of ceramic tableware — dinner sets, tea and coffee serving sets, mugs, tumblers, platters, bowls and tabletop accessories — addressing retail consumers, institutional buyers and the hospitality industry (hotels, restaurants, catering/HORECA). It operates manufacturing facilities at Vishwakarma Industrial Area (VKI), Jaipur and Manda, Rajasthan with an aggregate installed capacity of 6,000 MT p.a. (utilization of 82% in FY2026), using raw materials such as natural calcium phosphate, kaolin, feldspar, Bentonite, ceramic colour, transfer paper and decal gold paste. The Company makes money principally by selling finished ceramic tableware under its in-house brands 'Clay Craft' (Rs. 15190.34 Lakhs, 84.44% of FY2026 revenue) and 'JCPL' (Rs. 2339.55 lakhs, 13.01% of FY2026 revenue), deriving over 90% of revenue from these brands, distributed through a network of distributors, retailers, large-format retail stores and online platforms under largely non-exclusive arrangements; it also undertakes contract design, development and manufacturing for certain customers, while direct export sales are marginal (Rs. 29.33 lakhs in FY2026). For Fiscal 2026 (consolidated), revenue from operations were Rs. 17,988.67 lakhs, EBITDA Rs. 4,195.94 lakhs and PAT Rs. 2,701.49 lakhs; the Company had 1,392 full-time employees as on March 31, 2026.
Objects of the Issue
- Funding capital expenditure towards setting up an additional manufacturing facility at Manda, Rajasthan (total estimated project cost Rs. 12641.68 lakhs, of which Rs. 2941.68 lakhs from internal accruals/borrowings) ₹9,700.00 lakhs (of Net Proceeds) p.91
- General corporate purposes ₹1.88 lakhs p.98
Issue Structure
- Total Issue
- Up to 54,24,000 Equity Shares aggregating up to ₹11,010.72 lakhs (constituting 26.37% of the post-issue paid-up equity share capital)
- Fresh Issue
- Entirely a Fresh Issue of up to 54,24,000 Equity Shares aggregating up to ₹11,010.72 lakhs (includes Market Maker Reservation Portion of 2,72,400 Equity Shares aggregating ₹552.97 lakhs; Net Issue to public: 51,51,600 Equity Shares aggregating ₹10,457.75 lakhs)
- Offer for Sale
- Nil
- Price Band
- Floor Price ₹193 and Cap Price ₹203 per Equity Share; Issue Price fixed at ₹203 per Equity Share (including premium of ₹193)
- Lot Size
- Bid Lot: 1,200 Equity Shares and in multiples of 600 Equity Shares thereafter; Lot Size: 600 Equity Shares
- Face Value
- ₹10 per Equity Share
Business Model
Revenue is earned from the manufacture and sale of branded ceramic tableware: over 90% of revenue comes from products sold under the in-house brands 'Clay Craft' and 'JCPL', sold through non-exclusive arrangements with distributors, retailers, large-format stores and online platforms, supplemented by design/development/manufacturing arrangements for various customers; sales are concentrated in mugs and dinnerware across a portfolio of over 5,700 SKUs, are seasonal (festive-season demand) and depend significantly on the HORECA sector.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Rajesh Narain Agarwal | Promoter / Whole-Time (Executive) Director | 46.85% | 34.50% |
| Bharat Agarwal | Promoter / Whole-Time (Executive) Director | 16.81% | 12.38% |
| Vikas Agarwal | Promoter / Managing Director | 16.83% | 12.39% |
| Deepak Agarwal | Promoter / Whole-Time (Executive) Director & CFO | 16.83% | 12.39% |
| Usha Agarwal | Promoter Group (wife of Rajesh Narain Agarwal) | 2.63% | 1.94% |
| Ruchi Agarwal | Promoter Group (wife of Bharat Agarwal) | 0.04% | 0.03% |
| Crown Craft (India) Private Limited | Promoter Group | 0.00% | 0.00% |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.