M K Sons Fine Jewels will open its IPO for subscription on October 28 to raise Rs 275.4 crore. The company fixed the price band at Rs 153-162 per share. The issue closes on October 30. The firm plans to use the money to expand its retail footprint and reduce debt.

Market Mastery

Webinar by Vishal Malkan

Find the weak links

in your portfolio by Vishal Malkan

M K Sons Fine Jewels will open its initial public offering (IPO) for subscription on October 28, with the Mumbai-based jewellery retailer looking to raise Rs 275.4 crore through its maiden public issue.

The company has fixed the price band for the IPO at Rs 153-162 per share, valuing the company at around Rs 912 crore at the upper end of the band. The issue will close on October 30.

The IPO is scheduled to open on October 28 and close on October 30. The share allotment is expected to be finalised by November 2, while the company's shares are scheduled to list on the stock exchanges on November 4.

Read Also: After 20 rejections, he built Rs 700-crore 'Happilo': How Vikas Nahar started a snack brand with Rs 10,000 and two employees

The IPO comprises 1.7 crore equity shares, including a fresh issue of 1.36 crore shares worth Rs 220.32 crore at the upper end of the price band. The remaining portion of the issue comprises an offer for sale (OFS).

In the grey market, the M K Sons Fine Jewels shares were commanding a grey market premium of nearly 5 percent on the morning of Otober 27, as per InvestorGain.

The company plans to use the proceeds from the fresh issue primarily to expand its retail footprint and reduce debt.

Of the net proceeds, Rs 152.8 crore will be allocated towards setting up a new showroom in Maharashtra and expanding an existing showroom in Gujarat. Another Rs 30 crore will be used to repay debt, while the remaining amount will be utilised for general corporate purposes.

On the financial side, the company reported revenue of Rs 538.7 crore for the financial year ended March 2026, marking a 53.4% increase from Rs 351.3 crore in the previous financial year. Its profit more than doubled to Rs 51.8 crore in FY26 from Rs 23.3 crore a year earlier.

Check IPO News Here

For the quarter ended June 2026, the company reported a profit of Rs 15 crore on revenue of Rs 101.4 crore.

Aryaman Financial Services has been appointed as the merchant banker for the issue.

About M K Sons Fine Jewels

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.

The company currently operates five showrooms, including three in Mumbai and two in Ahmedabad. The proposed expansion is expected to support its plans to increase its retail presence.