M.K.Sons Fine Jewels IPO: dates, price band, lot size and GMP
M.K.Sons Fine Jewels IPO opens 28 – 30 Oct 2026 on the Mainboard, price band ₹153 – ₹162, lot 91 shares, no GMP reported yet. Allotment 2 Nov, listing 4 Nov.
Listing date: M.K.Sons Fine Jewels IPO is scheduled to list on 4 Nov on NSE, BSE.
Updated 23 Oct 2026, 22:10 IST. Unofficial grey-market figures, dated.
BuyUnlistedShares tracks 215 IPOs on its calendar; the M.K.Sons Fine Jewels IPO has a price band of ₹153 – ₹162, a lot of 91 shares and no grey-market premium reported yet as of 23 Oct 2026.
Key details
| Board | Mainboard |
|---|---|
| Issue dates | 28 – 30 Oct 2026 |
| Price band | ₹153 – ₹162 |
| Lot size | 91 shares |
| Issue size | ₹275.40 Cr |
| Fresh issue | ₹220.32 Cr |
| Offer for sale | ₹55.08 Cr |
| Subscription | — |
| Registrar | Bigshare Services Pvt.Ltd. |
| Lead managers | Aryaman Financial Services Ltd. |
| Status | Upcoming |
Timeline
- Issue opens: 28 Oct
- Issue closes: 30 Oct
- Allotment: 2 Nov
- Refunds: 2 Nov
- Demat credit: 2 Nov
- Listing: 4 Nov
Issue details
| Face value | ₹10 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | NSE, BSE |
| Market cap at the upper band | ₹966.99 Cr |
| P/E (pre-issue) | 13.36x |
| P/E (post-issue) | 16.1x |
| Fresh issue (shares) | 1,36,00,000 |
| Offer for sale (shares) | 34,00,000 |
| Total shares offered | 1,70,00,000 |
| Promoter holding pre-issue | 100% |
| Promoter holding post-issue | 69.8% |
| Promoters | Ramchand Murlidhar Raimalani, Neelam Ramchand Raimalani, Kush Ramchand Raimalani |
| Lead managers | Aryaman Financial Services Ltd. |
| Registrar phone | 8657578989/8069219065/8069219060 |
| Registrar email | ipo@bigshareonline.com |
| Company website | mkjewels.in |
| Anchor bid date | 27 Oct 2026 |
| Anchor lock-in ends (50%) | 2 Dec 2026 |
| Anchor lock-in ends (remaining) | 31 Jan 2027 |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 1 | 91 | ₹14,742 |
| Retail (maximum) | 14 | 1,274 | ₹2,06,388 |
| sNII (minimum) | 14 | 1,274 | ₹2,06,388 |
| bNII (minimum) | 68 | 6,188 | ₹10,02,456 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| QIB | — | — | Not more than 50% of the Net Issue |
| NII (HNI) | — | — | Not less than 15% of the Net Issue |
| Retail | — | — | Not less than 35% of the Net Issue. |
Key ratios as of 31 Mar 2026
| EPS (pre-issue) | ₹12.13 |
|---|---|
| EPS (post-issue) | ₹10.06 |
| P/E (pre-issue) | 13.36x |
| P/E (post-issue) | 16.1x |
| RoNW | 30.83% |
| RoCE | 39.88% |
| RoE | 30.83% |
| PAT margin | 9.61% |
| EBITDA margin | 15.39% |
| Price / book | 4.12x |
| NAV per share | ₹39.36 |
| Debt / equity | 0.41 |
| Market cap (upper band) | ₹966.99 Cr |
Financials (₹ Cr)
| Metric | 30 Jun 2026 | FY26 | FY25 | FY24 | FY26 vs FY25 |
|---|---|---|---|---|---|
| Assets | 305.68 | 283.21 | 219.64 | 95.21 | +28.9% |
| Total Income | 101.45 | 538.86 | 351.32 | 217.4 | +53.4% |
| Profit After Tax | 15.02 | 51.8 | 23.26 | 8.17 | +122.7% |
| EBITDA | 23.42 | 82.94 | 38.57 | 12.87 | +115% |
| NET Worth | 183.04 | 168.01 | 116.21 | 22.27 | +44.6% |
| Reserves and Surplus | 140.35 | 125.32 | 107.7 | 17.79 | +16.4% |
| Total Borrowing | 70.52 | 68.44 | 68.93 | 38.64 | −0.7% |
About M.K.Sons Fine Jewels
Incorporated in 2012, M. K. Sons Fine Jewels Ltd. is engaged in the retail sale of gold, diamond, and CZ jewellery through its showroom network across Mumbai and Ahmedabad.
The company offers rings, necklaces, bangles, earrings, bracelets, Mangalsutras, solitaires, bridal jewellery, and customised jewellery under multiple collections such as Pavitra, Rivaaz, Sitaare, NAQSH, Sunhere, and One & Only.
The company operates 5 retail showrooms across Maharashtra and Gujarat in high-footfall locations including Bandra, Andheri, Zaveri Bazaar, C.G. Road, and Sindhu Bhavan Road.
Its business model focuses on retail jewellery sales, customer-centric collections, customised jewellery offerings, and diversified designs across multiple price points. The company procures finished jewellery from third-party vendors across Western India.
As on December 31, 2025, the company offered more than 17,452 SKUs, including over 13,322 gold jewellery designs and 4,130+ diamond and precious stone jewellery designs.
The company caters to bridal, festive, daily wear, and premium jewellery customers with BIS Hallmark-certified jewellery products.
Objects of the issue
- Funding expenditure towards setting up of 1 new showroom in Maharashtra (“New Showroom”) and expansion of existing showroom in Gujarat (“Expansion”) — ₹152.84 Cr
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company — ₹30 Cr
- General Corporate Purposes
Net proceeds: ₹182.84 Cr
Peer comparison
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| M.K. Sons Fine Jewels (issuer) | 12.13 | 12.13 | 39.36 | — | 30.83% | — | — |
| Motisons Jewellers | 0.65 | 0.65 | 5.05 | 27.78x | 12.77% | 3.6 | — |
| Tribhovandas Bhimji Zaveri | 30.32 | 30.32 | 125.6 | 19.62x | 24.14% | 4.75 | — |
| Senco Gold | 35.08 | 35.06 | 153.45 | 9.55x | 22.85% | 2.18 | — |
| PNGS Reva Diamond Jewellery | 28.41 | 28.41 | 162.53 | 24.21x | 12.55% | 4.24 | — |
* Offer Price per Equity Share will be determined on conclusion of the Book Building Process. Source: https://www.nseindia.com Notes: The figures of M.K. Sons Fine Jewels Limited are based on restated financial statements for the year ended March 31, 2026. Current Market Price (CMP) is the closing price of peer group scripts as on October 09, 2026. The figures for the peer group are based on the Consolidated Audited Financials for the year ended March 31, 2026.
Strengths (per the offer document)
- RR Classics – Men's Jewellery RR Classics is a men's jewellery collection — Collection comprising rings, bracelets, pendants and chains.
- NAQSH – 22K Antique Gold NAQSH is a collection of 22kt antique gold — Jewellery jewellery incorporating traditional design elements such as Kundan, Meenakari and Jadau.
- Targeted marketing and promotion activities enabling increasing brand recall — We believe our deep understanding of local markets enables us to effectively implement our marketing strategy.
- Advertising and Promotion expenses — December 31, 2025, Fiscal 2025, Fiscal 2024 and Fiscal 2023 were ₹ 15.49 million, ₹ 20.94 million, ₹ 26.36 million and ₹ 5.11 million, respectively.
- Founder led Company supported by professional management and leadership team — We are led by an experienced management team that has the expertise to manage and grow our business.
- Commitment to Quality and Customer Satisfaction — We are committed to excellence and continuously strive to improve our operations, focusing on quality control, inventory management, and business development.
Risk factors (as disclosed by the company)
- A significant portion of our revenue comes from our showrooms in Gujarat, where our operations are heavily focused — We derive a significant portion of our revenue from operations from our showrooms located in Gujarat, where our operations are heavily concentrated.
- Our inability to effectively market our products could affect consumer footfall and consequently adversely impact our business, financial condition — Building and maintaining our brand depends on the successful marketing and merchandising, strong customer relationships and delivering consistently high-quality customer experience which we are able…
- Our ability to sustain revenue growth and profitability is dependent on converting existing customers into repeat customers and acquiring new customers… — Our business has experienced significant growth in recent years, driven by customer retention and acquisition.
- Our ability to introduce new designs and update our collections in line with evolving customer preferences is critical to our business success — The jewellery industry is sensitive to shifts in customer preferences, and our sales performance is influenced by our ability to align our product offerings with market demand.
- As of nine months period ended December 31, 2025, Fiscals 2025, 2024 and 2023, our inventories were ₹ 2,405.92 million, ₹ 2,056.96 million — Our growth and our results of operations are dependent on our ability to effectively anticipate customer demand and market trends particularly in Gujarat where we have a strong foothold and our…
- Successful operations of our New Showroom are dependent on a number of factors — We intend to utilise ₹ 1,515.06 million towards Inventory cost for setting up the New Showroom, as stated in the “Objects of the Offer” section on page 89.
- Our revenue is influenced by seasonal trends and any dip in earnings during peak periods could disproportionately affect our overall performance — The demand for jewellery in India is inherently seasonal.
- Our business depends on adequate working capital to support our continued growth — As of December 31, 2025, our outstanding borrowings amounted to ₹ 721.06 million mainly used to support working capital requirements.
From the DRHP (strengths pages 169–174, risk factors pages 28–34). Headings shortened; the wording is the company’s. Not a recommendation.
Offer documents: DRHP (PDF)
Track this issue
- M.K.Sons Fine Jewels IPO GMP today and trend
- M.K.Sons Fine Jewels IPO subscription status, day by day
- M.K.Sons Fine Jewels IPO allotment status and how to check
Frequently asked questions
When does the M.K.Sons Fine Jewels IPO open and close?
The issue is scheduled for 28 – 30 Oct 2026.
What is the M.K.Sons Fine Jewels IPO price band?
The price band is ₹153 – ₹162 per share with a lot size of 91 shares.
How big is the M.K.Sons Fine Jewels IPO?
The total issue size is ₹275.40 Cr, of which ₹220.32 Cr is a fresh issue and ₹55.08 Cr an offer for sale.
When will M.K.Sons Fine Jewels list?
The tentative listing date is 4 Nov on the main board.
How do I apply for the M.K.Sons Fine Jewels IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), M.K.Sons Fine Jewels · as filed with SEBI · nsearchives.nseindia.com
- Registrar allotment page, Bigshare Services Pvt.Ltd. · allotment 2 Nov · ipo.bigshareonline.com
- NSE public issues page · listing 4 Nov · nseindia.com
- BSE public issues page · listing 4 Nov · bseindia.com
- M.K.Sons Fine Jewels company website · mkjewels.in
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 23 Oct, 15:05 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “M.K.Sons Fine Jewels IPO”, https://buyunlistedshares.com/ipo/mksons-fine-jewels-ipo, as of 23 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk, run by Gayatri Financial Synergy LLP. In the market since 2002. Data as of 23 Oct 2026.
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