M.K.Sons Fine Jewels IPO

This issue combines a fresh issue and an offer for sale. The amounts for each part are not available in our data; see the offer document for the split.

Lot size and investment

Reservation

QIB

51,00,000 shares

Current GMP

₹8

▲+4.94%

Estimated listing price

₹170

Issue price ₹162

Highest

₹15

28 Oct

Lowest

₹0

23 Oct

GMP by day (₹ per share)

Subject to sauda

₹1,000 retail · ₹14,000 HNI

GMP is an unofficial indicator from an unregulated market. It is shown for information only and is not a prediction of the listing price or a recommendation to apply.

P/E Ratio

16.1

EPS (₹)

10.06

RoE

8.20%

RoCE

10.26%

RoNW

8.20%

PAT Margin

14.80%

EBITDA Margin

23.09%

Debt / Equity

0.39

NAV (₹)

42.88

Separate pre- and post-issue P/E are not available for this IPO; the P/E shown is as disclosed for the issue.

Peers are other recent IPOs from the same industry, closest in issue size. Ratios are as disclosed at the time of each issue. This is not the listed-peer table from the offer document.

How M.K.Sons Fine Jewels plans to use the money raised, as stated in the offer document.

1. Funding expenditure towards setting up of 1 new showroom in Maharashtra (“New Showroom”) and expansion of existing showroom in Gujarat (“Expansion”)₹152.84 Cr
2. Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company₹30 Cr
3. General Corporate Purposes

M. K. Sons Fine Jewels Limited was incorporated in 2012. It sells gold, diamond and CZ jewellery through its own retail showrooms in Mumbai and Ahmedabad. The company runs 5 showrooms across Maharashtra and Gujarat, in places such as Bandra, Andheri, Zaveri Bazaar, C.G. Road and Sindhu Bhavan Road. It does not make the jewellery itself. It buys finished pieces from third-party vendors across Western India. The range covers rings, necklaces, bangles, earrings, bracelets, mangalsutras, solitaires, bridal jewellery and customised jewellery. It is sold under 11 collections, including Pavitra, Rivaaz, Sitaare, NAQSH, Sunhere and One & Only. On 30 June 2026 the company offered over 19,442 designs, of which 14,582 were gold jewellery and 4,860 were diamond and precious stone jewellery. Its customers are bridal, festive, daily wear and premium buyers. The jewellery is BIS Hallmark certified. The company follows a cluster-based showroom plan, where new showrooms are opened close to existing ones in the same city. The company is promoted by Ramchand Murlidhar Raimalani, Neelam Ramchand Raimalani and Kush Ramchand Raimalani. The registered office is in Bandra West, Mumbai. The offer is a fresh issue plus an offer for sale of 34,00,000 shares by Ramchand Murlidhar Raimalani, and Aryaman Financial Services Limited is the lead manager.

Promoters and shareholding

Ramchand Murlidhar Raimalani, Neelam Ramchand Raimalani and Kush Ramchand Raimalani

Promoter holding, pre-issue

100%

Promoter holding, post-issue

69.8%