M.K. Sons Fine Jewels IPO
Last GMP before listing: +₹10 (+6.2%). GMP is unofficial and may differ from the actual listing result.
Updated 05 Nov 2026. Information only, not a recommendation.
About M.K. Sons Fine Jewels
M. K. Sons Fine Jewels is a Mumbai-based jewellery retailer that sells gold, diamond and other fine jewellery under the MK Jewels brand. It runs five company-owned showrooms, three in Mumbai and two in Ahmedabad, and has no online sales channel. Designs come from its in-house team, while the jewellery is made by outside manufacturers and artisans. The company was incorporated in 2012 and became a public limited company in January 2026.
| Headquarters | Mumbai, Maharashtra |
| Founded | 2012 |
| Key person | Ramchand Murlidhar Raimalani, Chairman and Managing Director |
| Website | https://www.mkjewels.in |
M.K. Sons Fine Jewels financials
All figures in ₹ Cr. Revenue from operations and restated PAT, FY ends 31 March. Per the RHP-based figures on Groww, cross-checked against Indmoney (FY24, FY26), Multibagg (PAT and total revenue, which runs about ₹0.1 Cr higher than revenue from operations) and Trendlyne (PAT). Total assets not shown because only one source gave them.
| Year | Revenue | Profit after tax | Total assets |
|---|---|---|---|
| FY24 | 217.32 | 8.17 | — |
| FY25 | 351.28 | 23.26 | — |
| FY26 | 538.74 | 51.80 | — |
Key performance indicators
ROE, ROCE and debt to equity are for the three months ended 30 June 2026 (not annualised), so they are not comparable with full-year ratios. Other KPIs are left blank because sources disagree on the basis (for example, one source puts FY26 ROE at 30.83%).
| Indicator | Value |
|---|---|
| ROE % | 8.20 |
| ROCE % | 10.26 |
| Debt to equity | 0.39 |
Objects of the M.K. Sons Fine Jewels IPO
| Purpose | Estimated amount |
|---|---|
| Inventory funding for a new Maharashtra showroom and expansion of an existing Gujarat showroom | ₹152.84 Cr |
| Repayment or prepayment of certain borrowings | ₹30.00 Cr |
| General corporate purposes | ₹37.48 Cr |
Strengths and risks
Points drawn from the offer document and news reports. They are facts to read, not advice.
Strengths
- Revenue grew from ₹217.32 Cr in FY24 to ₹538.74 Cr in FY26, and PAT rose from ₹8.17 Cr to ₹51.80 Cr over the same period.
- Product range of about 19,442 varieties (as of June 2026) across gold, diamond and other jewellery, sold through five owned showrooms in Mumbai and Ahmedabad.
- Unique customers roughly doubled from 12,042 in FY24 to 24,274 in FY26.
- In-house design team creates the collections; gold jewellery is BIS hallmarked and diamond jewellery carries IGI or GIA certification.
Risks
- Revenue is concentrated: the C.G. Road showroom in Ahmedabad contributed 57.16% of FY26 revenue and Gujarat as a whole about 68%.
- All sales come from five physical showrooms; there is no online channel.
- Jewellery is produced by third-party manufacturers and artisans without long-term contracts.
- Operating cash flow was negative in FY24 and FY25, and inventory and working capital needs are large.
- Revenue and inventory value move with gold prices, and gold jewellery makes up most of sales.
Lead managers and registrar
| Lead manager(s) | Aryaman Financial Services Limited |
| Registrar | Bigshare Services Private Limited |
| Face value | ₹10 per share |
| Offer document | RHP / prospectus |
M.K. Sons Fine Jewels IPO: frequently asked questions
What is the issue size of the M.K. Sons Fine Jewels IPO?
The M.K. Sons Fine Jewels IPO is a fresh ₹220.32 cr + ofs ₹55.08 cr of ₹275.40 Cr.
What are the open and close dates of the M.K. Sons Fine Jewels IPO?
Bidding opens on 28 Oct 2026 and closes on 30 Oct 2026.
What is the price band of the M.K. Sons Fine Jewels IPO?
The price band is ₹153 – ₹162 per share.
What is the lot size and minimum investment in the M.K. Sons Fine Jewels IPO?
One lot is 91 shares. The minimum investment at the upper price band is ₹14,742 (1 lot).
When is the M.K. Sons Fine Jewels IPO allotment date?
Allotment is expected on 02 Nov 2026. You can check it on the registrar’s website (Bigshare Services Pvt. Ltd.) or through your broker.
Where will the M.K. Sons Fine Jewels IPO list?
The shares are proposed to list on NSE, BSE, with a listing date of 04 Nov 2026.
What is the GMP of the M.K. Sons Fine Jewels IPO?
GMP is an unofficial grey market quote that changes every day. See the latest value, with the date, in the GMP section at the top of this page. It does not guarantee the listing price.
Sources: tl-media.trendlyne.com, groww.in, zerodha.com, www.indmoney.com, www.multibagg.ai, trendlyne.com.
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