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 crores.
According to market watchers, the company’s shares are commanding a gray market premium (GMP) of around 20%, indicating potential listing gains if the current sentiment sustains. However, GMP is an unofficial indicator and may change rapidly prior to listing.
The allotment is expected to be finalized 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 of 1,200 shares, with an upper price band of Rs. 2.44 lakh investment is required. High net-worth investors need to bid for a minimum of three lots or 1,800 shares, worth Rs. 3.65 lakhs translates into an investment.
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Haim is the book-running lead manager for the securities issue, while Caffein Technologies is acting as registrar. Hamm Finleys will act as market maker.
Ahead of the IPO opening, Clay Craft India raised 15.43 lakh shares on June 16 from anchor investors at Rs. 31.34 crore was collected.
Established in 1994, Clay Craft India manufactures bone china crockery and ceramic tableware products. Its portfolio includes dinnerware, mugs, plates, tea and coffee service sets and other kitchenware products catering to households, hospitality businesses and corporate clients.
The company has also developed customized ceramic offerings for institutional customers and targeted products in 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 use the IPO proceeds primarily for expansion. Out of net income of around Rs. 97 crore will be used to set up an additional manufacturing facility at Manda in Rajasthan, while the remaining amount will go for general corporate purposes.
On the financial front, Clay Craft posted a total of Rs. 184.57 crore in revenue, which in FY25 was Rs. 154.44 crores. Profit after tax increased by 30% YoY to Rs. 20.76 crore to Rs. 27.01 crore has been made.
With a positive gray market premium and strong anchor participation, investors will closely monitor subscription demand over the next three days to gauge appetite for the SME issue.
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