M.K.Sons Fine Jewels IPO subscribed 65%
M.K.Sons Fine Jewels received bids for 76,87,498 shares as against 1,19,00,000 shares on offer, according to IPO subscription data at 16:50 IST on 28 October 2026. The issue was subscribed 0.65 times.
The issue opened for bidding on 28 October 2026 and will close on 30 October 2026. The price band of the IPO is fixed between Rs 153 and Rs 162 per share. An investor can bid for a minimum of 91 equity shares and multiples thereof.
The IPO comprises a fresh issue of 1,36,00,000 equity shares, aggregating up to Rs 220.32 crore, and an offer for sale (OFS) of 34,00,000 equity shares, aggregating up to Rs 55.08 crore, at the upper price band.
Of the net proceeds, the company intends to utilize Rs 152.84 crore towards setting up a new showroom in Maharashtra and expanding an existing showroom in Gujarat, Rs 30 crore towards repayment or prepayment of certain outstanding borrowings and the balance for general corporate purposes.
The promoters are Ramchand Murlidhar Raimalani, Neelam Ramchand Raimalani and Kush Ramchand Raimalani. The promoters and promoter group hold 100% of the pre-offer equity share capital. Their post-IPO shareholding is expected to be around 69.8%.
M.K.Sons Fine Jewels, incorporated in 2012, is engaged in the retail sale of gold, diamond and cubic zirconia (CZ) jewelry through its showroom network across Mumbai and Ahmedabad. Its product portfolio includes rings, necklaces, bangles, earrings, mangalsutras, solitaires, bridal jewellery and customized jewelry under various collections. The company operates five retail showrooms across Maharashtra and Gujarat, including locations in Bandra, Andheri, Zaveri Bazaar, C.G. Road and Sindhu Bhavan Road. As of 30 June 2026, the company offered more than 19,442 stock-keeping units (SKUs), including over 14,582 gold jewellery designs and 4,860 diamond and precious stone jewellery designs.
Ahead of the IPO, M.K.Sons Fine Jewels, on Tuesday, 27 October 2026, raised Rs 82.62 crore from anchor investors. The company allotted 51 lakh equity shares at Rs 162 each.
The company reported a profit after tax of Rs 51.80 crore and total income of Rs 538.86 crore for the financial year ended 31 March 2026.
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