M.K.Sons Fine Jewels IPO: Price Band, Dates, GMP & Review
M.K.Sons Fine Jewels Ltd has fixed the price band for its upcoming initial public offering at Rs 153 to Rs 162 per equity share. The jewellery company's IPO opens for public subscription on 28 October 2026 and closes on 30 October 2026, with anchor investor bidding scheduled a day earlier, on 27 October 2026. The issue will list on both BSE and NSE, with listing tentatively expected on 4 November 2026.
The total issue size is Rs 330.48 crore at the upper end of the price band, comprising a fresh issue of 1.70 crore shares (Rs 275.40 crore) and an offer for sale of 34 lakh shares (Rs 55.08 crore) by promoter Ramchand Murlidhar Raimalani. The company will use the fresh-issue proceeds to fund inventory for a new showroom in Maharashtra, expand an existing showroom in Gujarat, repay or prepay certain borrowings, and meet general corporate purposes.
M.K.Sons Fine Jewels IPO Details
| Detail | Information |
|---|---|
| Company | M.K.Sons Fine Jewels Ltd (incorporated 2012) |
| IPO open date | 28 October 2026 |
| IPO close date | 30 October 2026 |
| Anchor bidding | 27 October 2026 |
| Price band | Rs 153 - Rs 162 per share |
| Face value | Rs 10 per share |
| Lot size | 91 shares (minimum application Rs 14,742 at upper band) |
| Fresh issue | 1.70 crore shares (Rs 275.40 crore at upper band) |
| Offer for sale | 34 lakh shares by promoter Ramchand Murlidhar Raimalani (Rs 55.08 crore at upper band) |
| Total issue size | Rs 330.48 crore at the upper band |
| Issue type | Book-built issue |
| Reservation | QIB up to 50%, NII at least 15%, Retail at least 35% |
| Book-running lead manager | Aryaman Financial Services (sole BRLM) |
| Registrar | Bigshare Services |
| Allotment date (tentative) | 2 November 2026 |
| Listing date (tentative) | 4 November 2026, on BSE and NSE |
M.K.Sons Fine Jewels IPO Dates
| Event | Date |
|---|---|
| Anchor investor bidding | 27 October 2026 |
| IPO opens | 28 October 2026 |
| IPO closes | 30 October 2026 |
| Basis of allotment (tentative) | 2 November 2026 |
| Listing (tentative) | 4 November 2026 |
M.K.Sons Fine Jewels IPO GMP Today
The grey market premium for M.K.Sons Fine Jewels IPO was quoted at around Rs 8 on 25 October 2026, implying an estimated listing price of about Rs 170 against the upper band of Rs 162 - a gain of roughly 4.94%. This was the first GMP quote tracked for the issue. Grey market premium is unofficial, unregulated and dealer-reported; it is a sentiment indicator only, not a promise of listing gains, and it can change quickly as subscription demand builds from 28 October.
About the Company
M.K.Sons Fine Jewels designs, manufactures and retails fine jewellery - gold, diamond and cubic zirconia (CZ) pieces for bridal and contemporary buyers. The company operates five company-owned showrooms: three in Mumbai and two in Ahmedabad, with a total operational area of 6,513 square feet as of 30 June 2026, and offers more than 19,400 stock-keeping units (SKUs) ranging from around Rs 11,000 to premium price points. Promoters are Ramchand Murlidhar Raimalani, Neelam Ramchand Raimalani and Kush Ramchand Raimalani.
M.K.Sons Fine Jewels Financials
The company has grown rapidly over the last three years. Revenue rose from Rs 217.32 crore in FY2024 to Rs 538.74 crore in FY2026, a compound annual growth rate of about 57.5%, while profit after tax climbed from Rs 8.16 crore to Rs 51.80 crore over the same period. Margins have improved steadily, from 3.76% in FY2024 to 9.61% in FY2026, and the first quarter of FY2027 (April-June 2026) brought revenue of Rs 101.44 crore and PAT of Rs 15.02 crore at a 14.80% margin.
| (Rs crore) | FY2024 | FY2025 | FY2026 | Q1 FY2027 |
|---|---|---|---|---|
| Revenue | 217.32 | 351.28 | 538.74 | 101.44 |
| Expenses | 206.56 | 319.29 | 467.33 | 81.16 |
| Profit after tax | 8.16 | 23.26 | 51.80 | 15.02 |
| PAT margin | 3.76% | 6.62% | 9.61% | 14.80% |
At the upper band of Rs 162, the company is valued at roughly Rs 967 crore on post-issue equity (5.97 crore shares), which works out to about 18.7 times FY2026 earnings - a reasonable multiple for a fast-growing branded jewellery retailer, though investors should weigh the working-capital intensity of gold inventory and the concentration of just five showrooms against that growth.
Strengths and Risks to Consider
- Strong growth: Revenue up about 2.5 times and profit up more than 6 times between FY2024 and FY2026, with margins expanding every year.
- Improving profitability: Q1 FY2027 PAT of Rs 15.02 crore already equals nearly 30% of the whole of FY2026 profit, with a 14.80% margin.
- Clear use of proceeds: Fresh money goes to a new Maharashtra showroom, expansion of the Gujarat showroom, debt repayment and general corporate purposes.
- Gold-price exposure: Jewellery retail margins and inventory values move with gold prices, which can swing demand and working capital needs.
- Small footprint: Five showrooms across two cities means execution of the expansion plan matters more than the brand story alone.
- Promoter selling: The Rs 55.08 crore OFS goes to the promoter, not the company, so only the fresh issue funds growth.
Other IPOs Opening Around the Same Time
M.K.Sons Fine Jewels is one of a busy late-October pipeline. EAAA India Alternatives opens on 26 October after a Rs 360 crore anchor book, BLS Polymers opens on 27 October, and Jio Platforms and Paras Healthcare allotments are finalised on 26 October ahead of their 28 October listings. Investors tracking the week can also check the Core4 Engineers subscription update for the SME issue closing on 27 October.
FAQs
When does the M.K.Sons Fine Jewels IPO open?
The IPO opens on 28 October 2026 and closes on 30 October 2026. Anchor bidding takes place on 27 October 2026.
What is the M.K.Sons Fine Jewels IPO price band?
The price band is Rs 153 to Rs 162 per equity share, with a face value of Rs 10 per share.
What is the lot size for the M.K.Sons Fine Jewels IPO?
The minimum lot is 91 shares, costing Rs 14,742 at the upper band. Retail investors can apply for up to 13 lots (1,183 shares, Rs 1,91,646).
What is the M.K.Sons Fine Jewels IPO GMP today?
GMP was quoted at around Rs 8 on 25 October 2026, implying an estimated listing price near Rs 170. GMP is unofficial and subject to change.
When will M.K.Sons Fine Jewels IPO shares list?
Listing is tentatively expected on 4 November 2026 on BSE and NSE, with allotment tentatively on 2 November 2026.
Who are the lead manager and registrar?
Aryaman Financial Services is the sole book-running lead manager and Bigshare Services is the registrar to the issue.
Conclusion
M.K.Sons Fine Jewels comes to market with a strong FY2024-FY2026 growth record, expanding margins and a clear retail-expansion plan, priced at Rs 153-162 per share for a Rs 330.48 crore issue. The modest early grey market premium of around Rs 8 suggests tempered listing expectations, so subscription momentum from 28 October - and the anchor book on 27 October - will be the real test of demand. This article is for information only and is not investment advice; investors should read the RHP and consult a financial adviser before applying.