Clay Craft India Ltd IPO
Ceramic Products
Price Band
₹193 – ₹203
Lot Size
600
Minimum Bid Quantity
1200
Minimum Investment
₹243600
Issue Size
₹110.11Cr
Opens
2026-06-17
Closes
2026-06-19
Listing
24-06-2026
Subscription Status
Qualified Institutional Buyers
119.19 x
Non-Institutional Investor
114.43 x
Retail Individual Investor
70.53 x
Total
95.29 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE1QGM01024
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Clay Craft India Limited is engaged in the manufacturing and distribution of ceramic tableware products in India. The company designs, develops, produces, and sells a range of ceramic products, including dinner sets, tea and coffee serving sets, mugs, tumblers, platters, bowls, and tabletop accessories. It caters to retail consumers, institutional buyers, and the hospitality sector, and also undertakes customised product development and manufacturing for corporate and institutional clients. The company markets its products under its in-house brands, including Clay Craft and JCPL, and offers approximately 5,770 stock-keeping units (SKUs) across various product categories. As of the date of the prospectus, Clay Craft India operates two manufacturing facilities in Rajasthan, located in Jaipur and the Manda-2 Industrial Area near Kaladera. Together, these facilities have an installed production capacity of approximately 6,000 metric tonnes per annum. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: To fund capital expenditure towards setting up an additional manufacturing facility at Manda, Rajasthan — Rs 97 crore General corporate purposes
Pros
- • The company operates two manufacturing facilities in Rajasthan with a combined installed capacity of approximately 6,000 metric tonnes per annum. It claims to have an integrated manufacturing setup that includes equipment such as automatic china machines, ball mills, kilns, ram press machines, screen printing machines, and other production machinery, enabling it to carry out in-house manufacturing and design activities.
- • The company claims to undertake product design, development, decal printing, manufacturing, and packaging within its own facilities. This integrated approach reduces dependence on third-party vendors and allows greater control over production timelines, customisation, and quality standards.
- • The company is ISO 9001:2015 certified for the manufacturing, trading, import, and export of tableware products, including dinner sets, coffee mugs, tea sets, and gift sets. It also claims to have an in-house quality assurance framework that monitors processes from raw material sourcing to final product inspection.
Cons
- • The company’s supplier base is concentrated, with its top 3 suppliers accounting for 52.28%, 58.30%, and 54.43% of total raw material purchases in FY26, FY25, and FY24, respectively. The top 10 suppliers contributed 78.86%, 80.60%, and 80.04% of total purchases during the same period. Any disruption in supplies from these key suppliers or failure to identify alternative suppliers on favourable terms could adversely affect the company’s operations and profitability.
- • The company operates in a highly competitive ceramic tableware market and faces competition from domestic manufacturers, international brands, imported products, and unorganised players. In the HoReCa segment, it also competes with global brands that have established relationships with premium hotels and hospitality chains. The company additionally faces competition from substitute materials such as opal ware, melamine, and stainless steel products. The company's inability to effectively compete on pricing, product offerings, brand equity, distribution capabilities, or responsiveness to evolving consumer preferences may adversely affect its market position, sales performance, and profit margins.
- • The company’s business is subject to seasonality, with demand for its ceramic tableware products generally increasing during festive periods. Its sales are also influenced by consumer spending patterns and trends in the housing and home goods markets. Any slowdown in consumer demand, economic disruptions, political instability, or other unforeseen events during peak sales periods could adversely affect the company’s revenue and profitability. As a result, quarterly financial performance may fluctuate and may not accurately reflect the company’s performance for the full financial year.
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