M. K. Sons Fine Jewels Limited’s IPO to open on Wednesday, October 28, 2026
The Offer comprises Fresh Issue of 13,600,000 Equity Shares and an Offer for Sale of 3,400,000 Equity Shares
POSTED BY : ANAGHA SAKPAL DATED ON : 23/10/2026 (9004379946) 📞
- Price Band fixed at ₹153 to ₹162 per equity share of face value of ₹10 each (Equity Share)
- Anchor Investor Bidding Date – Tuesday, October 27, 2026
- Bid /Offer Opening Date – Wednesday, October 28, 2026, Bid/ Offer Closing Date – Friday, October 30, 2026
- Bids can be made for a minimum of 91 Equity Shares and in multiples of 91 Equity Shares thereafter
- Red Herring Prospectus link: https://www.afsl.co.in/pdfnew/Red%20Herring%20Prospectus.pdf
Mumbai (RMN) : M. K. Sons Fine Jewels Limited (‘Company’ or ‘MK Sons’) announced its initial public offering of Equity Shares (IPO). Details: The Offer comprises Fresh Issue of 13,600,000 Equity Shares and an Offer for Sale of 3,400,000 Equity Shares by the Promoter Selling Shareholder viz., Ramchand Murlidhar Raimalani. M. K. Sons Fine Jewels Limited is a retail-focused jewellery company engaged in the marketing and sale of a wide range of gold, diamond and Cubic Zirconia (CZ) jewellery through its own chain of retail showrooms since 2012. The company currently operates three showrooms in Mumbai and two showrooms in Ahmedabad. The total operational area of five showrooms is 6,513 square feet as on June 30, 2026.
The Net Proceeds are proposed to be utilized to fund inventory costs towards setting up 1 new showroom in Maharashtra and expansion of existing showroom in Gujarat, repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company and General Corporate Purposes. The Company offers a diversified jewellery portfolio comprising more than 19,442 Stock Keeping Units (SKUs). The pricing strategy is designed to cater to a broad customer base, with jewellery offerings starting from approximately ₹11,000 and extending to high-value premium jewellery.
Company’s revenue has grown from ₹2,173.23 million in Fiscal 2024 to ₹5,387.36 million in Fiscal 2026 with a CAGR of 57.45%. The PAT increased from ₹81.65 million in Fiscal 2024 to ₹517.99 million in Fiscal 2026 with a CAGR of 151.87%. The Equity Shares that will be offered through this Red Herring Prospectus are proposed to be listed on the Stock Exchanges, being the BSE Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”, and together with BSE, the “Stock Exchanges”). For the purposes of the Offer, the Designated Stock Exchange shall be NSE.
Aryaman Financial Services Limited is the sole Book Running Lead Manager to the Offer and Bigshare Services Private Limited is the Registrar. This Offer is being made in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process and is in compliance with Regulation 6(1) of the SEBI ICDR Regulations wherein in terms of Regulation 32(1) of the SEBI ICDR Regulations, not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”, and such portion, the “QIB Portion”) provided that our Company, in consultation with the BRLM, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which 40% shall be reserved in the following manner (i) 33.33% of the Anchor Investor Portion shall be reserved for domestic Mutual Funds; and (ii) 6.67% of the Anchor Investor Portion shall be reserved for Life Insurance Companies and Pension Funds, subject to valid Bids being received from domestic Mutual Funds, Life Insurance Companies and Pension Funds, as applicable, at or above the Anchor Investor Allocation Price. Any under subscription in the Life Insurance Companies and Pension Funds category specified in (ii) above may be allocated to domestic Mutual Funds, in accordance with the SEBI ICDR Regulations. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the remaining QIB Portion (“Net QIB Portion”). in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors) including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.
Further, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders out of which (a) one-third of such portion shall be reserved for applicants with application size of more than ₹0.20 million and up to ₹1.00 million; and (b) two-third of such portion shall be reserved for applicants with application size of more than ₹1.00 million, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) in accordance with the SEBI ICDR Regulations (“Retail Portion”), subject to valid Bids being received from them at or above the Offer Price.
Further all potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank accounts (including UPI ID for UPI Bidders using UPI Mechanism) (as defined hereinafter) in which the Bid Amount will be blocked by the SCSBs or the Sponsor Banks, as applicable, to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion of the Offer through the ASBA process.
