The ₹275.40 crore M K Sons Fine Jewels IPO has completed its allotment process with finalization scheduled for Monday, November 2, 2026. Share allotment details are now available on the websites of NSE, BSE, and Bigshare Services. The ₹275.40 crore IPO comprised a fresh issue of 1.36 crore equity shares worth ₹220.32 crore and an offer-for-sale (OFS) of ₹55.08 crore by promoter Ramchand Murlidhar Raimalani. Shares will be listed on NSE and BSE on Wednesday, November 4, 2026, at 10 am. The issue was subscribed 5.09 times, receiving bids for 6,05,95,171 shares against 1.19 crore shares on offer. Refunds for unsuccessful applicants and credit of allotted shares to demat accounts are expected on November 3, ahead of the listing.
The IPO demonstrated strong investor interest across all categories, with non-institutional investors leading at 14.12 times subscription, followed by retail investors at 3.08 times subscription, while qualified institutional buyers subscribed 1.84 times of their allocated portion. The ₹275.40 crore IPO received bids for 6,05,95,171 shares against 1.19 crore shares on offer. The bidding closed on October 30, with share allotment expected by November 2 and listing scheduled for November 4 on BSE and NSE.
The company successfully raised ₹82.62 crore from anchor investors by allotting 51 lakh equity shares to nine investors at ₹162 per share each, as per The Hindu BusinessLine. The anchor investors included Goldman Sachs Bank Europe SE, Venus Investment VCC, Advent Global Fund PCC, Khandelwal Finance, Tiger Strategies Fund-I, Arnesta Global Opportunities Fund PCC, Zeal Global Opportunities Fund, Compact Structure Fund, and Nexus Global Opportunities Fund. In the grey market, M K Sons Fine Jewels shares were commanding a premium of around 3.5% on the morning of November 2, as per InvestorGain, indicating continued listing-gain expectations. The company has fixed the price band at ₹153-162 per share, valuing the company at around ₹912 crore at the upper end of the band.
Of the net proceeds from the fresh issue, ₹152.8 crore will be allocated towards setting up a new showroom in Maharashtra and expanding an existing showroom in Gujarat, with ₹30 crore specifically earmarked for debt repayment. The company plans to use the proceeds primarily to expand its retail footprint and reduce debt, while the remaining amount will be utilized for general corporate purposes. The issue structure comprises 1.7 crore equity shares, including a fresh issue of 1.36 crore shares worth ₹220.32 crore at the upper end of the price band, with the remaining portion consisting of an offer for sale (OFS) of 34 lakh equity shares by promoter Ramchand Murlidhar Raimalani. Aryaman Financial Services has been appointed as the merchant banker for the issue, while Bigshare Services serves as the registrar. The minimum lot size was 91 shares, translating into an investment of ₹14,742 at the upper end of the price band.
The company reported strong financial performance with revenue of ₹538.7 crore for the financial year ended March 2026, marking a 53.4% increase from ₹351.3 crore in the previous financial year. Its profit more than doubled to ₹51.8 crore in FY26 from ₹23.3 crore a year earlier. For the quarter ended June 2026, the company reported a profit of ₹15 crore on revenue of ₹101.4 crore.
M K Sons Fine Jewels is a Mumbai-based jewellery retailer that sells gold, diamond and cubic zirconia (CZ) jewellery through its own retail showrooms. Incorporated in 2012, the company designs, manufactures and retails fine jewellery. As of June 30, 2026, the company offered more than 19,442 SKUs, comprising over 14,582 gold jewellery designs and 4,860 diamond and precious stone jewellery designs. The company currently operates five showrooms, including three in Mumbai and two in Ahmedabad, with 148 permanent employees as of September 30, 2026. The proposed expansion is expected to support its plans to increase its retail presence across Maharashtra and Gujarat markets.
