MK Sons Fine Jewels Ltd has fixed a price band of ₹153 to ₹162 per share for its upcoming initial public offering (IPO) worth ₹275.4 crore. The public issue will open for subscription on October 28 and close on October 30, the jewellery retailer said.
The bidding for anchor investors will take place on October 27, a day before the issue opens for retail and other investors. The proposed IPO comprises a fresh issue of up to 1.36 crore equity shares and an offer for sale (OFS) of up to 34 lakh equity shares by promoter Ramchand Murlidhar Raimalani, according to a company statement.
The company's shares are proposed to be listed on the BSE and the National Stock Exchange of India (NSE). IPO proceeds to fund showroom expansion, debt repayment MK Sons Fine Jewels plans to utilise the proceeds from the fresh issue for expanding its retail presence and strengthening its financial position.
A portion of the funds will be used to establish a new showroom in Maharashtra and expand an existing showroom in Gujarat. The company also intends to use the proceeds to repay or prepay certain borrowings and meet general corporate requirements. The fresh issue will bring additional capital into the business, while the offer-for-sale component will allow the promoter to sell part of his existing shareholding.
Proceeds from the OFS will go to the selling shareholder rather than the company. The IPO is part of the jewellery retailer's plans to expand its operations and support its business requirements. Company operates five showrooms in Mumbai, Ahmedabad Incorporated in 2012, MK Sons Fine Jewels is engaged in designing, manufacturing and retailing fine jewellery.
Its product portfolio includes gold, diamond and cubic zirconia (CZ) jewellery sold through company-owned showrooms. The company offers more than 19,442 stock-keeping units (SKUs), covering a range of jewellery designs and price points. Its pricing strategy caters to a broad customer base, with products starting at approximately ₹11,000 and extending to premium, high-value jewellery.
The retailer operates five showrooms across Mumbai and Ahmedabad, offering contemporary designs as well as bridal jewellery collections. Its product range and retail network form the foundation of its business as it seeks to expand its presence through the proposed public offering.
Company reports ₹52 crore profit in FY26 On the financial front, MK Sons Fine Jewels reported a profit after tax of ₹52 crore and revenue from operations of ₹539 crore in the financial year 2025-26 (FY26). The financial performance provides investors with an overview of the company's earnings and operating scale ahead of its stock market debut.
However, prospective investors will also need to assess the company's valuation at the proposed IPO price, its financial position, growth prospects and risks associated with the jewellery retail business before making an investment decision. Aryaman Financial Services appointed lead manager Aryaman Financial Services is the sole book-running lead manager for the public issue, while Bigshare Services has been appointed registrar.