M. K. Sons Fine Jewels Limited is a Mumbai-based retail jewellery company engaged in the sale of gold, diamond, cubic zirconia (CZ) and precious stone jewellery through company-owned showrooms. Incorporated in January 2012, the company operates under the “MK Jewels” brand.
The company offers a wide range of jewellery, including rings, earrings, necklaces, solitaires, bangles, bracelets, Mangalsutras and bridal jewellery, through 11 collections:
- Pavitra: Religious and faith-inspired jewellery.
- Rivaaz: Traditional and contemporary Mangalsutras.
- Nayaab: 18-karat gold and CZ jewellery.
- RR Classics: Men’s rings, bracelets and accessories.
- CharmChime: Charm-based and personalised jewellery.
- Sitaare: Diamond-studded jewellery.
- NAQSH: Traditional 22-karat antique gold jewellery.
- Petite: Lightweight and miniature charm jewellery.
- Sunhere: Traditional and contemporary gold jewellery.
- Ra Ra Ru: Contemporary jewellery designs.
- One & Only: Premium statement jewellery.
As of June 30, 2026, the company operated five retail showrooms, including three in Mumbai (Bandra, Andheri and Zaveri Bazaar) and two in Ahmedabad (Sindhu Bhavan Road and C.G. Road), covering 6,513 square feet.
The company follows a Company-Owned, Company-Operated (COCO) model, sourcing jewellery primarily from third-party manufacturers and wholesalers in Maharashtra and Gujarat. It also offers customised jewellery through skilled artisans.
As of June 30, 2026, the company offered 19,442 SKUs, comprising 14,582 gold jewellery designs and 4,860 diamond and precious stone jewellery designs.
In FY2026, gold jewellery contributed 87.44% of revenue, followed by coloured stone jewellery (6.65%) and diamond jewellery (5.75%). All sales were generated through physical showrooms.
As of September 30, 2026, the company had 148 permanent employees.
M.K.Sons Fine Jewels IPO – Details
| IPO Opening Date | 28 October 2026 |
| IPO Closing Date | 30 October 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 2,04,00,000 Shares Worth ₹330.48 Crore Fresh Issue: 1,70,00,000 Shares Worth ₹275.40 Crore Offer For Sale: 34,00,000 Shares Worth ₹55.08 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹153 – ₹162 per share |
| Market Lot | 91 Shares |
| Min Order | 91 Shares [1 Lot] |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
M.K.Sons Fine Jewels IPO – Date Schedule
| IPO Open Date | 28 October 2026 |
| IPO Close Date | 30 October 2026 |
| Basis of Allotment | 02 November 2026 |
| Initiation of Refund | 03 November 2026 |
| Credit of Shares to Demat Account | 03 November 2026 |
| IPO Listing Date | 04 November 2026 |
| Cut-off time for UPI mandate confirmation | 7 PM on October 30, 2026 |
M.K.Sons Fine Jewels IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 91 | ₹14,742 |
| Retail (Max) | 13 | 1183 | ₹1,91,646 |
| S-HNI (Min) | 14 | 1274 | ₹2,06,388 |
| S-HNI (Max) | 67 | 6097 | ₹9,87,714 |
| B-HNI (Min) | 68 | 6188 | ₹10,02,456 |
Competitive Strength
- Diversified jewellery portfolio across 11 collections.
- Strong regional presence in Mumbai and Ahmedabad.
- Wide range of gold, diamond, and CZ jewellery.
- Cluster-based showroom expansion strategy.
- BIS Hallmark-certified jewellery products.
- Experienced promoter with jewellery industry expertise since 1999.
- Customer-focused retail and customised jewellery offerings.
Company Promoters
- Ramchand Murlidhar Raimalani
- Neelam Ramchand Raimalani
- Kush Ramchand Raimalani
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹217.40 Cr | ₹206.56 Cr | ₹8.17 Cr | ₹38.64 Cr |
| 31 March 2025 | ₹351.32 Cr | ₹319.29 Cr | ₹23.26 Cr | ₹68.93 Cr |
| 31 March 2026 | ₹538.86 Cr | ₹467.33 Cr | ₹51.80 Cr | ₹68.44 Cr |
| 30 June 2026 | ₹101.45 Cr | ₹81.16 Cr | ₹15.02 Cr | ₹70.52 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) | Values (June 30, 2026) |
|---|---|---|
| ROE | 30.83% | 8.20% |
| ROCE | 39.88% | 10.26% |
| Debt/Equity | 0.41 | 0.39 |
| RoNW | 30.83% | 8.20% |
| PAT Margin | 9.61% | 14.80% |
| EBITDA Margin | 15.39% | 23.09% |
| NAV | 39.36 | 42.88 |
| Price to Book Value | 4.12 | 3.78 |
| Pre IPO | Post IPO | |
| EPS (₹) | 12.13 | 10.06 |
| P/E (x) | 13.36 | 16.10 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Funding expenditure towards setting up of 1 new showroom in Maharashtra (“New Showroom”) and expansion of existing showroom in Gujarat (“Expansion”). | ₹152.84 |
| Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company. | ₹30.00 |
| General corporate purposes. |
M.K.Sons Fine Jewels IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 1 | Motisons Jewellers Limited | 27.78 |
| 2 | 10 | Tribhovandas Bhimji Zaveri Limited | 19.62 |
| 3 | 5 | Senco Gold Limited | 9.55 |
| 4 | 10 | PNGS Reva Diamond Jewellery Limited | 24.21 |
✅Strengths
- Experienced Promoters with jewellery business experience since 1999.
- Diversified Products across gold, diamond and CZ jewellery.
- Regional Presence with five showrooms in Mumbai and Ahmedabad.
- Demand-Driven Sourcing aligned with customer preferences.
- Strong Revenue Growth from ₹217.32 Cr in FY24 to ₹538.74 Cr in FY26.
⚠️Risks
- Geographical Concentration limited to Mumbai and Ahmedabad.
- Gold Price Volatility may affect profitability.
- Supplier Dependency without long-term supplier agreements.
- High Inventory worth ₹275.23 Cr as of June 30, 2026.
- Intense Competition from other jewellery retailers.
M.K.Sons Fine Jewels IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 65.82% |
M.K.Sons Fine Jewels IPO Prospectus
Company Contact Information
| M.K.Sons Fine Jewels Ltd. 1 & 2, A.N. Chambers, Turner Road, Bandra West, Mumbai, Maharashtra, 400050 Phone: 9920077788 Email: compliance@mkjewels.in Website: https://www.mkjewels.in/ |
M.K.Sons Fine Jewels IPO Registrar
| Bigshare Services Pvt. Ltd. Phone: 8657578989/8069219065/8069219060 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
M.K.Sons Fine Jewels IPO Lead Manager(s)
| 1. Aryaman Financial Services Ltd. |
M.K.Sons Fine Jewels IPO FAQs
| What is the M.K.Sons Fine Jewels IPO? M.K.Sons Fine Jewels IPO is a main-board IPO. The issue is priced at ₹153 to ₹162 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the M.K.Sons Fine Jewels IPO open? The IPO is to open on 28 October 2026 for QIB, NII, and Retail Investors. |
| What is M.K.Sons Fine Jewels IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the M.K.Sons Fine Jewels IPO Size? M.K.Sons Fine Jewels IPO size is ₹330.48 Crore. |
| What are the M.K.Sons Fine Jewels IPO Minimum and maximum lot sizes for Retail? The minimum bid is 91 Shares with ₹14,742, while the maximum bid is 1183 Shares with ₹1,91,646. |
| What is the M.K.Sons Fine Jewels IPO Allotment Date? M.K.Sons Fine Jewels IPO allotment date is 02 November 2026. |
| What is the M.K.Sons Fine Jewels IPO Listing Date? M.K.Sons Fine Jewels IPO listing date is 04 November 2026. The IPO is to be listed on the BSE and the NSE. |
