The IPO of Clay Craft India will open for subscription on Wednesday, June 17, and will remain open until June 19. The NSE SME-bound issue is looking to raise Rs 110.11 crore through a completely fresh issue of 54.24 lakh equity shares.
The IPO is being offered in a price band of Rs 193-203 per share. At the upper end of the band, the company is valued at around Rs 417.6 crore.
According to market observers, the company's shares are commanding a grey market premium (GMP) of around 20%, indicating a potential listing gain if current sentiment sustains. However, GMP is an unofficial indicator and can change sharply before listing.
The allotment is expected to be finalised on June 22, while the shares are likely to be listed on the NSE SME platform on June 24.
Retail investors can apply for a minimum of two lots comprising 1,200 shares, requiring an investment of Rs 2.44 lakh at the upper price band. High-net-worth investors need to bid for a minimum of three lots or 1,800 shares, translating into an investment of Rs 3.65 lakh.
Hem Securities is the book-running lead manager to the issue, while Kfin Technologies is acting as the registrar. Hem Finlease will serve as the market maker.
Ahead of the IPO opening, Clay Craft India raised Rs 31.34 crore from anchor investors on June 16 through the allocation of 15.43 lakh shares.
Founded in 1994, Clay Craft India manufactures bone china crockery and ceramic tableware products. Its portfolio includes dinnerware, mugs, platters, tea and coffee service sets, and other kitchenware products catering to households, hospitality businesses and corporate clients.
The company has also developed customised ceramic offerings for institutional customers and products targeted at the hotel, restaurant and catering segment. As of March 31, 2026, it offered around 5,770 stock-keeping units across multiple brands and employed more than 1,390 people.
The company plans to utilise the IPO proceeds primarily for expansion. Around Rs 97 crore from the net proceeds will be used to set up an additional manufacturing facility at Manda in Rajasthan, while the remaining amount will go towards general corporate purposes.
On the financial front, Clay Craft reported total income of Rs 184.57 crore for FY26, up from Rs 154.44 crore in FY25. Profit after tax rose 30% year-on-year to Rs 27.01 crore from Rs 20.76 crore.
With a positive grey market premium and strong anchor participation, investors will be watching subscription demand closely over the next three days to gauge appetite for the SME issue.
