M K Sons Fine Jewels, a prominent Mumbai-based retail jewellery company specializing in gold, diamond, and cubic zirconia pieces, is set to launch its Initial Public Offering (IPO) on October 28. The company aims to raise ₹275.4 crore through the offering, which values the firm at ₹912 crore.
The IPO will be open for public subscription from October 28 to October 30, with the anchor book opening a day earlier on October 27. The price band for the issue has been fixed at ₹153 to ₹162 per equity share.
Issue Details and Fund Utilization
The public issue comprises 1.7 crore equity shares. This includes a fresh issue of 1.36 crore shares, expected to raise ₹220.32 crore at the upper end of the price band, and an Offer for Sale (OFS) of 34 lakh shares by promoter Ramchand Murlidhar Raimalani, valued at ₹55.08 crore.
M K Sons Fine Jewels plans to strategically deploy the net proceeds from the fresh issue. A significant portion, ₹152.8 crore, is earmarked for expanding its retail footprint by establishing one new showroom in Maharashtra and enhancing an existing showroom in Gujarat. Additionally, ₹30 crore will be utilized for debt repayment, with the remaining funds allocated for general corporate purposes.
Financial Performance and Listing
The jewellery retailer has demonstrated strong financial growth. For the quarter ending June 2026, the company reported a profit of ₹15 crore on revenues of ₹101.4 crore. Its profit for the fiscal year ending March 2026 more than doubled to ₹51.8 crore, up from ₹23.3 crore in the previous year. Revenue also saw a substantial increase of 53.4 percent, rising to ₹538.7 crore from ₹351.3 crore.
The company anticipates finalizing the IPO share allotment by November 2, with its stock market debut expected on November 4. Aryaman Financial Services is serving as the merchant banker for this issue.