M K Sons Fine Jewels Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹153 - ₹162
- Lot size
- 91 shares
- Issue amount
- ₹275.4 cr
- Total subscription
- 4.97×
- Opens
- 28 Oct 2026
- Closes
- 30 Oct 2026
- Allotment
- 2 Nov 2026
- Listing
- 4 Nov 2026
Offer at a glance
Issue overview
- Issue size
- 1,70,00,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹13,923
- Fresh issue
- ₹220.32 cr
- Offer for sale
- ₹55.08 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,742
- Issue type
- Bookbuilding IPO
- Shares before issue
- 4,26,90,760
- Shares after issue
- 5,62,90,760
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 91 | ₹14,742 |
| sHNI | 14 | 1,274 | ₹2,06,388 |
| bHNI | 68 | 6,188 | ₹10,02,456 |
Share reservation
Subscription & GMP
Subscription by category
Reported 30 Oct 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 65,385 | 1,61,140 |
| HNIs(10L +) | 1,334 | 4,182 |
| HNIs (2-10L) | 667 | 7,452 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 55.08 | 101.48 |
| RETAIL | 96.39 | 277.23 |
| HNIs 2+ | 13.77 | 157.73 |
| HNIs 10+ | 27.54 | 422.21 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| EPS | 3.52 | 12.13 | 10.26 | 3.63 |
| ROE | 8.2 | 30.83 | 20.01 | 36.63 |
| ROCE | 10.26 | 39.88 | 27.24 | 40.62 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 0 | 0 | 0 |
| POST IPO(PE) | 0 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| M.K. Sons Fine Jewels Limited | 0 | 0 | 10.00 | 39.36 | 30.83 | 12.13 |
| Motisons Jewellers Limited | 27.78 | 13.80 | 1.00 | 5.05 | 12.77 | 0.65 |
| Tribhovandas Bhimji Zaveri Limited | 19.62 | 146.18 | 10.00 | 125.60 | 24.14 | 30.32 |
| Senco Gold Limited | 9.55 | 318.10 | 5.00 | 153.45 | 22.85 | 35.08 |
| PNGS Reva Diamond Jewellery Limited | 24.21 | 396.90 | 10.00 | 162.53 | 12.55 | 28.41 |
Company information
Company profile
M. K. Sons Fine Jewels Limited, incorporated in 2012, is a retail-focused jewellery company engaged in marketing and selling gold, diamond and Cubic Zirconia jewellery through its own showrooms. One of its promoters has been associated with the jewellery business since 1999 through a proprietorship concern that was subsequently merged into the company. It offers a diverse range of contemporary and bridal jewellery designs, emphasising craftsmanship, design quality and customer-focused collections. As of June 30, 2026, the company operated five showrooms across Mumbai and Ahmedabad, covering a total operational area of 6,513 square feet. Its product portfolio includes more than 19,442 stock-keeping units (SKUs) across rings, earrings, necklaces, bangles, bracelets and mangalsutras, organised into 11 curated collections catering to different price ranges and occasions. The company's gold jewellery complies with BIS Hallmark standards, while its diamond jewellery includes IGI and GIA certifications. All showrooms follow the Company-Owned, Company-Operated (COCO) model, providing direct control over retail operations and customer experience. Revenue increased from ₹2,173.23 million in Fiscal 2024 to ₹5,387.36 million in Fiscal 2026. Going forward, the company plans to expand its showroom network across Western India while continuing to prioritise product quality, craftsmanship and customer trust.
Strengths
- Diversified Jewellery Portfolio: The company offers 11 jewellery collections across gold, diamond and CZ categories, catering to different customers, occasions and budgets, from everyday wear to premium jewellery.
- Targeted Marketing & Strong Brand Recall: The company promotes its products through Instagram, YouTube, Pinterest, traditional advertising and exhibitions. Its Instagram following exceeds 591,000, helping strengthen brand awareness.
- Experienced Founder & Management Team: Promoter and Chairman Ramchand Raimalani has over 25 years of experience in the gems and jewellery industry, supported by a professional management team with over 40 years of combined experience.
Risk factors
- Geographic Concentration in Gujarat: Gujarat contributed 67.97% of the company’s revenue in FY2026, with the CG Road, Ahmedabad showroom alone accounting for 57.16%. This high concentration exposes the company to regional business risks.
- Unappraised Offer Objectives: The company’s proposed use of IPO funds, including opening a new showroom and expansion, has not been appraised by any bank or financial institution. Changes in fund utilisation require shareholder approval, which may cause delays.
- Dependence on Physical Showrooms: The company generates all its revenue through physical showrooms and has no online sales channel. Any decline in showroom sales could affect revenue, as there are no digital or alternative distribution channels to offset the impact.
Promoters
Ramchand Murlidhar Raimalani
Neelam Ramchand Raimalani
Kush Ramchand Raimalani
Registrar & documents
Lead manager
Aryaman Financial Services Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
1 & 2, A.N. Chambers, Turner Road, Bandra West, Mumbai, Maharashtra, 400050
+919920077788
[email protected]Company website ↗Understanding MKJEWELS IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.