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M.K.Sons Fine Jewels IPOLISTED
M. K. Sons Fine Jewels Limited operates retail jewellery showrooms under the MK Jewels brand, offering gold, diamond, CZ and precious stone jewellery across 11 collections.
Listing price
₹171
+5.56%
Current price
—
Not available
Issue price
₹162
Upper band
Listed on
04 Nov 26
MKSONSFINEJEWELS
- Open28 Oct
- Close30 Oct
- Allotment2 Nov
- Refund3 Nov
- Demat3 Nov
- Listing4 NovToday
Listed at
₹171
+5.56% on 04 Nov 26
Overview
Price band
₹153-162
Lot size
91 shares
Face value
₹10 / share
Issue type
Book Built Issue
Min. investment
₹14,742
Listing at
NSE, BSE
Issue Size : 2,04,00,000 shares worth ₹330.48 Cr
- Fresh Issue : 1,70,00,000 shares worth ₹275.4 Cr
- Offer for Sale : 34,00,000 shares worth ₹55.08 Cr
IPO Share Reservation
Total
100%
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 91 | ₹14,742 |
| Retail (Max) | 13 | 1,183 | ₹1,91,646 |
| S-HNI (Min) | 14 | 1,274 | ₹2,06,388 |
| S-HNI (Max) | 67 | 6,097 | ₹9,87,714 |
| B-HNI (Min) | 68 | 6,188 | ₹10,02,456 |
Listing performance
Listing gain
+5.56%
Gain per retail lot
₹819
Latest vs issue
—
GMP was
₹9 (+5.56%)
Latest price shows here when a live quote is available (NSE main-board stocks).
Live GMP
GMP
₹9+5.56%
Exp. listing
₹171
Retail profit
₹81991 shares
HNI profit
₹11,4661,274 shares
Latest GMP
₹9
All-time high
₹9
All-time low
₹2
Subscription
- QIB1.84xQIB1.84xQualified Institutional BuyersShares offered 34,00,000Shares applied 62,64,349Bid amount ₹101 Cr
- NII (HNI)14.12xNII (HNI)14.12xNon-Institutional InvestorsShares offered 25,50,000Shares applied 3,60,11,976Bid amount ₹583 Cr
- S-HNI11.71xS-HNI11.71xSmall HNI · ₹2L – ₹10LShares offered 8,50,000Shares applied 99,49,576Bid amount ₹161 Cr
- B-HNI15.33xB-HNI15.33xBig HNI · above ₹10LShares offered 17,00,000Shares applied 2,60,62,400Bid amount ₹422 Cr
- Retail3.08xRetail3.08xRetail Individual InvestorsShares offered 59,50,000Shares applied 1,83,50,241Bid amount ₹297 Cr
- Total5.09xTotal5.09xAll categories combinedShares offered 1,19,00,000Shares applied 6,06,26,566Bid amount ₹982 Cr
Financials
| Period(₹ Cr) | Revenue | Expense | PAT | Assets | Borrowing |
|---|---|---|---|---|---|
| Mar 2024 | 217.4 | 206.56 | 8.17 | 95.21 | 38.64 |
| Mar 2025 | 351.32 | 319.29 | 23.26 | 219.64 | 68.93 |
| Mar 2026 | 538.86 | 467.33 | 51.8 | 283.21 | 68.44 |
| Jun 2026 | 101.45 | 81.16 | 15.02 | 305.68 | 70.52 |
KPI & Valuation
Key performance indicators
- ROE
- 8.2%
- PAT Margin
- 14.8%
- ROCE
- 10.26%
- EBITDA Margin
- 23.09%
- Debt to Equity Ratio
- 0.39
- Price to Book Value
- 3.78
- RoNW
- 8.2%
As of 30 Jun 2026
Valuation
- EPS Pre IPO
- ₹12.13
- EPS Post IPO
- ₹10.06
- P/E Pre IPO
- 13.36
- P/E Post IPO
- 16.1
Peer comparison
| Company | Face value | P/E |
|---|---|---|
| Motisons Jewellers Limited | ₹1 | 27.78 |
| Tribhovandas Bhimji Zaveri Limited | ₹10 | 19.62 |
| Senco Gold Limited | ₹5 | 9.55 |
| PNGS Reva Diamond Jewellery Limited | ₹10 | 24.21 |
Strengths & risks
Strengths
- Experienced Promoters with jewellery business experience since 1999.
- Diversified Products across gold, diamond and CZ jewellery.
- Regional Presence with five showrooms in Mumbai and Ahmedabad.
- Demand-Driven Sourcing aligned with customer preferences.
- Strong Revenue Growth from ₹217.32 Cr in FY24 to ₹538.74 Cr in FY26.
Risks
- Geographical Concentration limited to Mumbai and Ahmedabad.
- Gold Price Volatility may affect profitability.
- Supplier Dependency without long-term supplier agreements.
- High Inventory worth ₹275.23 Cr as of June 30, 2026.
- Intense Competition from other jewellery retailers.
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Funding expenditure towards setting up of 1 new showroom in Maharashtra (“New Showroom”) and expansion of existing showroom in Gujarat (“Expansion”). | 152.84 |
| Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company. | 30 |
| General corporate purposes. | - |
Promoter Holdings
Company Promoter(s)
- Ramchand Murlidhar Raimalani
- Neelam Ramchand Raimalani
- Kush Ramchand Raimalani
Registrar & contacts
Registrar
Bigshare Services Pvt. Ltd.
- 8657578989/8069219065/8069219060
- ipo@bigshareonline.com
- https://ipo.bigshareonline.com/IPO_Status.html
Company
M.K.Sons Fine Jewels Ltd.
- 1 & 2, A.N. Chambers, Turner Road, Bandra West, Mumbai, Maharashtra, 400050
- 9920077788
- compliance@mkjewels.in
- https://www.mkjewels.in/
Documents
Lead managers
About M.K.Sons Fine Jewels
M. K. Sons Fine Jewels Limited is a Mumbai-based retail jewellery company engaged in the sale of gold, diamond, cubic zirconia (CZ) and precious stone jewellery through company-owned showrooms. Incorporated in January 2012, the company operates under the “MK Jewels” brand.
The company offers a wide range of jewellery, including rings, earrings, necklaces, solitaires, bangles, bracelets, Mangalsutras and bridal jewellery, through 11 collections:
- Pavitra: Religious and faith-inspired jewellery.
- Rivaaz: Traditional and contemporary Mangalsutras.
- Nayaab: 18-karat gold and CZ jewellery.
- RR Classics: Men's rings, bracelets and accessories.
- CharmChime: Charm-based and personalised jewellery.
- Sitaare: Diamond-studded jewellery.
- NAQSH: Traditional 22-karat antique gold jewellery.
- Petite: Lightweight and miniature charm jewellery.
- Sunhere: Traditional and contemporary gold jewellery.
- Ra Ra Ru: Contemporary jewellery designs.
- One & Only: Premium statement jewellery.
As of June 30, 2026, the company operated five retail showrooms, including three in Mumbai (Bandra, Andheri and Zaveri Bazaar) and two in Ahmedabad (Sindhu Bhavan Road and C.G. Road), covering 6,513 square feet.
The company follows a Company-Owned, Company-Operated (COCO) model, sourcing jewellery primarily from third-party manufacturers and wholesalers in Maharashtra and Gujarat. It also offers customised jewellery through skilled artisans.
As of June 30, 2026, the company offered 19,442 SKUs, comprising 14,582 gold jewellery designs and 4,860 diamond and precious stone jewellery designs.
In FY2026, gold jewellery contributed 87.44% of revenue, followed by coloured stone jewellery (6.65%) and diamond jewellery (5.75%). All sales were generated through physical showrooms.
As of September 30, 2026, the company had 148 permanent employees