India’s growing jewellery market is witnessing another company stepping into the capital markets as M.K. Sons Fine Jewels Limited prepares to launch its Initial Public Offering (IPO). The Mumbai-based retail jewellery company is set to open its IPO subscription window on October 28, 2026, offering investors an opportunity to participate in its expansion plans.
The company has fixed the IPO price band at ₹153 to ₹162 per equity share, with a face value of ₹10 per share. Through the public issue, M.K. Sons Fine Jewels aims to raise funds to strengthen its retail presence, manage inventory requirements and reduce existing debt.
IPO details and expansion plans
The IPO consists of 1.70 crore equity shares, including a fresh issue of 1.36 crore equity shares and an Offer for Sale (OFS) of 34 lakh equity shares by promoter shareholder Ramchand Murlidhar Raymalani.
While the proceeds from the fresh issue will directly benefit the company, the amount raised through the OFS will go to the selling shareholder. The bidding process for anchor investors will begin on October 27, followed by the subscription period for other investors from October 28 to October 30, 2026.
Investors can place bids for a minimum of 91 equity shares, with further bids allowed in multiples of 91 shares.
The company plans to utilise the IPO proceeds for opening a new showroom in Maharashtra, supporting inventory requirements for its existing showrooms in Gujarat, and repaying or prepaying certain borrowings. A portion of the funds will also be used for general corporate purposes.
Growing presence in Mumbai and Ahmedabad
Founded in 2012, M.K. Sons Fine Jewels operates in the retail jewellery segment, offering gold, diamond and cubic zirconia (CZ) jewellery. The company currently has five showrooms, including three in Mumbai and two in Ahmedabad.
As of June 30, 2026, these showrooms had a combined operational area of 6,513 square feet, reflecting the company’s growing footprint in key jewellery markets.
The company’s focus on retail expansion comes at a time when India’s jewellery sector continues to see demand driven by weddings, festivals and increasing consumer interest in branded jewellery.
Strong financial growth attracts investor attention
M.K. Sons Fine Jewels has reported significant growth in profitability over recent years. The company’s profit after tax increased from ₹81.65 million in FY2024 to ₹517.99 million in FY2026, recording a compound annual growth rate (CAGR) of 151.87% during the period.
The financial performance highlights the company’s growth trajectory, though investors are advised to evaluate various factors, including valuation, financial position, debt levels and future business prospects before making investment decisions.
Following the IPO, the company’s shares are proposed to be listed on both the BSE Limited and the National Stock Exchange of India Limited (NSE). NSE has been appointed as the designated stock exchange for the issue.
Aryaman Financial Services Limited is serving as the sole Book Running Lead Manager for the IPO, while Bigshare Services Private Limited has been appointed as the registrar.
With its planned expansion and entry into the stock market, M.K. Sons Fine Jewels aims to strengthen its position in the competitive jewellery industry while offering investors an opportunity to participate in its next phase of growth.
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