Craft India IPO Opening June 17 2026: ₹110.11 Crore Issue Aims to Fund New Manufacturing Facility

Mumbai, June 12: Clay Craft India will open its initial public offering for subscription on June 17, 2026, launching a ₹110.11 crore SME issue that marks one of the larger public offerings in the segment this year. The issue will remain open until June 19, with the company scheduled to list on the NSE SME platform on June 24, 2026. 

The IPO comes as the Rajasthan-based tableware manufacturer prepares for its next phase of expansion. According to the offer documents, the company plans to use a substantial portion of the proceeds to establish an additional manufacturing facility at Manda in Rajasthan, a project that could significantly strengthen production capacity and support future demand. 

For a company that has spent more than three decades building its presence in the ceramic and bone china tableware market, the public issue represents a strategic step toward scaling operations rather than simply strengthening the balance sheet. 

Fresh Issue Accounts for Entire IPO 

The offering is entirely a fresh issue of 54.24 lakh equity shares, with no offer-for-sale component. 

That distinction means the entire amount raised through the IPO will flow directly into the company and be deployed toward its stated growth plans. At the upper end of the price band, the issue size aggregates to approximately ₹110.11 crore. 

The company has fixed the IPO price band at ₹193 to ₹203 per share. 

Since this is a book-built issue, investors can submit bids within the specified range. The final issue price will be determined after the close of subscription based on demand received from various investor categories. 

Subscription Timeline and Listing Schedule 

The public issue will be available for subscription between June 17 and June 19, 2026. 

As per the tentative schedule disclosed in the prospectus: 

• IPO Opens: June 17, 2026 

• IPO Closes: June 19, 2026 

• Basis of Allotment: June 22, 2026 

• Refund Initiation: June 23, 2026 

• Credit of Shares: June 23, 2026 

• Listing on NSE SME: June 24, 2026 

These dates remain subject to regulatory approvals and exchange processes. 

Minimum Retail Investment at ₹2.43 Lakh 

Clay Craft India has fixed the lot size at 600 shares. 

Retail investors will be required to apply for a minimum of two lots, or 1,200 shares, which translates into an investment of ₹2.43 lakh at the upper end of the price band. 

For HNI investors, the minimum application size has been fixed at 1,800 shares, requiring an investment of approximately ₹3.65 lakh. 

As with most SME offerings, the minimum application value is considerably higher than that of mainboard IPOs because of larger prescribed lot sizes. 

Nearly Half the Issue Reserved for Institutional InvestorsNearly Half the Issue Reserved for Institutional Investors 

The company has allocated a significant portion of the issue to institutional investors. 

Of the net offer: 

• Qualified Institutional Buyers (QIBs): 49.97% 

• Non-Institutional Investors (NIIs): 15.02% 

• Retail Investors: 35.01% 

Within the QIB category, a portion has also been earmarked for anchor investors ahead of the public subscription period. 

A total of 2.72 lakh shares have been reserved for the market maker portion. 

The allocation structure suggests the company is seeking meaningful institutional participation alongside retail demand. 

Expansion Project Drives Use of IPO Proceeds 

Unlike many SME offerings where funds are directed toward debt repayment or working capital, Clay Craft India’s fundraising is centered on capacity expansion. 

The company intends to utilise approximately ₹97 crore from the issue proceeds toward setting up an additional manufacturing facility at Manda, Rajasthan. The remaining funds will be deployed for general corporate purposes. 

Management believes the new facility will help address future demand growth and enhance manufacturing capabilities across product categories. 

Expansion-led IPOs are often closely watched because they provide investors with a clearer view of how fresh capital is expected to generate future revenue opportunities. 

Established Presence in Ceramic and Bone China TablewareEstablished Presence in Ceramic and Bone China Tableware 

Founded in 1994, Clay Craft India is engaged in the manufacturing of bone china crockery and ceramic tableware. 

Over the years, the company has built a broad product portfolio that includes plates, cups, saucers, mugs, bowls and other dining products catering to households, hotels, restaurants and institutional buyers. 

The company has also developed a specialized presence in the HoReCa (Hotel, Restaurant and Catering) segment, supplying products tailored to commercial hospitality requirements. 

As of March 31, 2026, Clay Craft offered approximately 5,770 stock-keeping units (SKUs) across multiple product categories and brands, reflecting the scale and diversity of its product range. 

Its ability to serve both retail and institutional customers has helped the company establish a diversified revenue base within the tableware market. 

Financial Performance Reflects Continued Growth 

Clay Craft India reported steady growth in its consolidated financial performance for the year ended March 31, 2026. 

The company reported: 

• Total Income: ₹184.57 crore 

• Profit After Tax: ₹27.01 crore 

• EBITDA: ₹41.96 crore 

• Net Worth: ₹166.06 crore 

• Total Assets: ₹251.95 crore 

Compared with the previous year, revenue and profitability improved, supported by higher business volumes and operational expansion. 

The company’s balance sheet also reflects moderate leverage, with total borrowings of approximately ₹49.98 crore as of March 31, 2026. 

Key Performance Indicators Ahead of Listing 

According to the offer documents, key financial ratios as of March 31, 2026 include: 

• Return on Equity (ROE): 17.71% 

• Return on Capital Employed (ROCE): 18.26% 

• Debt-to-Equity Ratio: 0.30 

• PAT Margin: 15.02% 

• EBITDA Margin: 23.33% 

The company is expected to command a pre-IPO market capitalisation of approximately ₹417.58 crore. 

Promoter shareholding is projected to decline from 100% before the issue to 73.63% after listing, reflecting dilution resulting from the fresh issue. 

Lead Managers and Registrar

The IPO is being managed by Hem Securities Limited, which is acting as the book-running lead manager to the issue. 

KFin Technologies Limited has been appointed as registrar, while Hem Finlease Private Limited will serve as the market maker. 

With subscriptions opening on June 17, investors will be assessing not only the company’s financial performance but also the long-term impact of its proposed manufacturing expansion, which remains the central investment theme behind the IPO. 

Source: 

• https://nsearchives.nseindia.com/emerge/corporates/content/Registration_02092025203534_1_IPO_SM_DRHP_Soft_Copy.pdf