M.K.Sons Fine Jewels IPO
M.K.Sons Fine Jewels IPO was a Mainboard book-built issue of ₹330.48 crore, consisting of a Fresh Issue of 1.70 crore shares aggregating to ₹275.40 crore and an Offer for Sale of 34.00 lakh shares aggregating to ₹55.08 crore. The price band was ₹153 to ₹1
M.K.Sons Fine Jewels IPO Details
M.K.Sons Fine Jewels IPO bidding started from Oct 28, 2026 and ended on Oct 30, 2026. The allotment for M.K.Sons Fine Jewels IPO was finalized on Nov 2, 2026. M.K.Sons Fine Jewels IPO will list on BSE, NSE on Nov 4, 2026.
M.K.Sons Fine Jewels IPO GMP
M.K.Sons Fine Jewels IPO GMP reflects the prevailing grey market sentiment and unofficial premium or discount trends ahead of its official stock exchange listing.
M.K.Sons Fine Jewels IPO Timeline (Tentative)
M.K.Sons Fine Jewels IPO opened for subscription on October 28, 2026, and closed on October 30, 2026. The basis of allotment was finalized on November 2, refunds were initiated on November 2, and shares were credited to successful applicants' Demat accounts on the same day. The shares were listed on BSE and NSE on November 4, 2026.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Wed, Oct 28, 2026 |
| IPO Close Date | Fri, Oct 30, 2026 |
| Basis of Allotment | Mon, Nov 2, 2026 |
| Initiation of Refunds | Mon, Nov 2, 2026 |
| Credit of Shares to Demat | Mon, Nov 2, 2026 |
| Listing Date | Wed, Nov 4, 2026 |
M.K.Sons Fine Jewels IPO Lot Size
The M.K.Sons Fine Jewels IPO lot size was 91 shares. At the upper price band of ₹162 per share, one lot required a minimum investment of ₹14,742. Retail investors could apply for up to 13 lots, or 1,183 shares, amounting to ₹1,91,646.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 91 | 14,742 |
| Retail (Max) | 13 | 1,183 | 1,91,646 |
| S-HNI (Min) | 14 | 1,274 | 2,06,388 |
| S-HNI (Max) | 67 | 6,097 | 9,87,714 |
| B-HNI (Min) | 68 | 6,188 | 10,02,456 |
M.K.Sons Fine Jewels IPO Reservation
M.K.Sons Fine Jewels IPO comprises a total issue size of 2,04,00,000 shares. Out of which, not more than 50% are allocated to QIB, not less than 15% allocated to NII, and not less than 35% allocated to RII.
M.K.Sons Fine Jewels IPO Subscription
M.K.Sons Fine Jewels IPO received strong overall subscription by the close of bidding on October 30, 2026. The issue saw robust demand across QIB, NII, and Retail segments.
| Category | Subscription (times) |
|---|---|
| QIB | |
| NII | |
| RII | |
| Total |
About M.K.Sons Fine Jewels
M.K.Sons Fine Jewels Limited is engaged in the business of manufacturing, designing, and retailing fine jewelry items. The company offers a wide range of gold, diamond, and precious stone jewelry collections, catering to diverse customer preferences, wedding markets, and festive occasions. Known for its craftsmanship, stringent quality standards, and design variety, the company operates under 11 distinct collections and serves both wholesale and retail customer segments through robust distribution networks and physical retail outlets in Maharashtra and Gujarat.
Strengths
- Eleven distinct collections portfolio catering to diverse consumer segments and occasions.
- Strong regional presence and cluster-based expansion strategy across Maharashtra and Gujarat.
- Certified quality standards with BIS Hallmark certified jewelry items ensuring customer trust.
- Experienced promoter and management team with extensive domain knowledge in the gems and jewelry industry.
Risks to Consider
- High dependence on the volatility of raw material prices, particularly gold, silver, and precious stones.
- Working capital intensive operations requiring significant funding for inventory management and receivables.
- Intense competition from unorganized local jewelers as well as large organized national retail brands.
M.K.Sons Fine Jewels Financials (₹ Cr)
M.K.Sons Fine Jewels reported robust revenue and profit growth over the last three financial years. Total income increased from ₹217.40 crore in FY2024 to ₹351.32 crore in FY2025 and ₹538.86 crore in FY2026. Profit after tax also expanded remarkably from ₹8.17 crore in FY2024 to ₹23.26 crore in FY2025 and ₹51.80 crore in FY2026. For Q1 FY2027 (ended June 30, 2026), the company reported total income of ₹101.45 crore and PAT of ₹15.02 crore.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2026 | 538.86 | 51.80 | 283.21 | 168.01 |
| FY2025 | 351.32 | 23.26 | 219.64 | 116.21 |
| FY2024 | 217.40 | 8.17 | 95.21 | 22.27 |
KPIs & Valuation
At the IPO price band of ₹153–₹162, M.K.Sons Fine Jewels is valued at a pre-issue P/E of 13.36x and post-issue P/E of 16.10x based on FY2026 earnings. Its FY2026 pre-issue EPS was ₹12.13 and NAV was ₹39.36 per share. The company reported a strong 30.83% RoNW and 39.88% ROCE for FY2026.
Objects of the Issue
The ₹330.48 crore IPO comprises fresh issue proceeds which the company proposed to use for setting up a new showroom, expanding existing facilities, repayment of borrowings, and general corporate purposes. The company proposed to utilise the IPO proceeds for:
- Funding expenditure towards setting up of 1 new showroom in Maharashtra and expansion of existing showroom in Gujarat.
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company.
- General corporate purposes.
Promoters, Lead Managers & Registrar
M.K.Sons Fine Jewels Limited is promoted by Ramchand Murlidhar Raimalani, Neelam Ramchand Raimalani, and Kush Ramchand Raimalani. The IPO has Aryaman Financial Services Limited as the Book Running Lead Manager and Bigshare Services Private Limited as the Registrar to the Issue.
Promoters
Lead Managers (BRLM)
Registrar
| Name | Bigshare Services Private Limited |
|---|---|
| Phone | 8657578989 |
| ipo@bigshareonline.com | |
| Website | https://www.bigshareonline.com |
M.K.Sons Fine Jewels IPO Review
M.K.Sons Fine Jewels has established a reputable brand presence in the fine jewelry manufacturing and retail sector. Its financial performance has grown significantly, with total income scaling up from ₹217.40 crore in FY2024 to ₹538.86 crore in FY2026, and PAT increasing from ₹8.17 crore to ₹51.80 crore during the same period.
A key positive of the IPO is the strategic allocation of proceeds toward expanding retail reach through new and existing showrooms, which will drive future revenue growth. Furthermore, improving operational margins and strong return metrics (RoNW of 30.83% for FY2026) enhance its investment appeal.
However, investors should consider the inherent cyclicality of consumer spending on luxury items, fluctuations in precious metal prices, and high working capital requirements. The IPO valuation at a P/E multiple of around 13.36x to 16.10x reflects reasonable pricing relative to its earnings growth.
How to Apply
M.K.Sons Fine Jewels IPO applications could be made through ASBA or UPI. The IPO opened on October 28, 2026 and closed on October 30, 2026. The minimum application was 1 lot of 91 shares, requiring ₹14,742 at the upper price band of ₹162.
Through UPI
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Log in to your stockbroker app/website.
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Go to the IPO section.
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Select M.K.Sons Fine Jewels IPO.
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Enter the number of lots you want to apply for.
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Select the bid price. Retail investors can generally choose Cut-off when available.
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Enter your valid UPI ID.
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Submit the IPO application.
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Open your UPI app when the mandate request arrives.
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Approve the mandate using your UPI PIN.
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The application amount will be blocked in your bank account. If shares are allotted, the required amount will be debited; otherwise, the blocked amount will be released.
Prospectus & Documents
Investors can refer to the company's DRHP, RHP and Prospectus for detailed information about the business, financial performance, risk factors, IPO structure and utilisation of the issue proceeds.
Last updated Oct 23, 2026.