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M.K. Sons Fine Jewels IPO

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M.K. Sons Fine Jewels IPO Details

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About M.K. Sons Fine Jewels IPO

The M.K. Sons Fine Jewels IPO opens on TBA and closes on TBA. The allotment of shares will take place on TBA. The credit of shares to the demat account will take place on TBA. The initiation of refunds will take place on TBA. The listing of shares will take place on TBA.

The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include up to 1.36 crore equity shares. The offer for sale portion includes up to 0.34 crore equity shares. The total number of shares is 1,70,00,000 and the aggregate amount is yet to be finalised.

M.K. Sons Fine Jewels IPO’s price band is set at TBA to TBA per share. The lot size for an application is TBA. The minimum amount of investment required by a retail investor is ₹TBA (TBA shares) (based on upper price). The minimum lot size investment for HNI is TBA.

M.K. Sons Fine Jewels is a retail-focused jewellery company engaged in the marketing and sale of a wide range of gold, diamond and Cubic Zirconia (CZ) jewellery through its own chain of retail showrooms since 2012. The company offers a diverse portfolio of contemporary and bridal designs with a focus on craftsmanship, design quality and customer-centric jewellery collections.

Objectives of M.K. Sons Fine Jewels IPO

  • Funding expenditure towards setting up of 1 new showroom in Maharashtra (“New Showroom”) and expansion of existing showroom in Gujarat (“Expansion”).
  • Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company.
  • General corporate purposes.

M.K. Sons Fine Jewels IPO Valuation

Share Offer and Subscription Details

M.K. Sons Fine Jewels IPO Lot Size

Industry Outlook

The Indian gems and jewellery industry is a significant pillar of the national economy, contributing approximately 7% to GDP and around 15% of total merchandise exports. The sector is expected to grow steadily, supported by strong domestic consumption and resilient international demand. India is the world’s largest diamond-cutting and polishing hub, accounting for over 90% of global polished diamond production. (Source: Careedge Report)

About M.K. Sons Fine Jewels

M.K. Sons Fine Jewels is a retail-focused jewellery company engaged in the marketing and sale of a wide range of gold, diamond and Cubic Zirconia (CZ) jewellery through its own chain of retail showrooms since 2012. The company offers a diverse portfolio of contemporary and bridal designs with a focus on craftsmanship, design quality and customer-centric jewellery collections. They have established their presence in the retail jewellery markets of Maharashtra and Gujarat by expanding their retail footprint across Mumbai and Ahmedabad, two key commercial centres in Western India. Their company currently operates three showrooms in Mumbai and two showrooms in Ahmedabad and has developed recognition as a regional jewellery brand in these markets.

Strengths of M.K. Sons Fine Jewels

  • Their multi-collection jewellery portfolio enables them to address varied consumer segments.
  • Targeted marketing and promotion activities enabling increasing brand recall.
  • Founder led company supported by professional management and leadership team.
  • Commitment to quality and customer satisfaction.
  • Strong financial results.

Risks of M.K. Sons Fine Jewels

  • A significant portion of their revenue comes from their showrooms in Gujarat, where their operations are heavily focused.
  • Their inability to effectively market their products could affect consumer footfall and consequently adversely impact their business.
  • Their ability to sustain revenue growth and profitability is dependent on converting existing customers into repeat customers and acquiring new customers in a cost-effective manner.
  • Their ability to introduce new designs and update their collections in line with evolving customer preferences is critical to their business success.
  • Their inability to maintain an optimal level of inventory in their showrooms may impact their operations adversely.
  • Successful operations of their new showroom is dependent on a number of factors.
  • The objects of the offer for which the funds are being raised have not been appraised by any bank or financial institutions.
  • Their revenue is influenced by seasonal trends and any dip in earnings during peak periods could disproportionately affect their overall performance.
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Peer Comparison

Offer Price per Equity Share will be determined on conclusion of the Book Building Process.

Source: https://www.nseindia.com

Notes: (i) The figures of M.K. Sons Fine Jewels are based on restated financial statements for the year ended March 31, 2025.

(ii) Current Market Price (CMP) is the closing price of peer group scripts as on April 24, 2026.

(iii) The figures for the peer group are based on the Consolidated Audited Financials for the year ended March 31, 2025.

Anchor Investor Bidding Date: TBA

Registrar: Bigshare Services Private Limited
Book Running Lead Manager: Aryaman Financial Services Limited

M.K. Sons Fine Jewels Business Model

The company earns its revenue through as a retail-focused jewellery company engaged in the marketing and sale of a wide range of gold, diamond and Cubic Zirconia (CZ) jewellery through its own chain of retail showrooms.

M.K. Sons Fine Jewels Growth Trajectory

M.K. Sons Fine Jewels’s Total Income for FY25 was ₹351.316 crores, whereas in FY24 and FY23 it was ₹217.395 crores and ₹24.931 crores, respectively.

The Profit After Tax for FY25 was ₹23.262 crores, whereas in FY24 and FY23 it was ₹8.165 crores and ₹1.339 crores, respectively.

Their EBITDA for FY25 was ₹38.568 crores, whereas in FY24 and FY23 it was ₹12.871 crores and ₹2.269 crores, respectively.

M.K. Sons Fine Jewels Market Position

M.K. Sons Fine Jewels is committed to serving the Western India market with jewellery certified by the Bureau of Indian Standards (BIS) Hallmark through five showrooms located across Mumbai and Ahmedabad, with a total operational area of 6,513 square feet as December 31, 2025.

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹351.316 crores, ₹23.262 crores, and ₹38.568 crores, respectively.

M.K. Sons Fine Jewels Profit and Loss Statement (in ₹ crores)

M.K. Sons Fine Jewels Balance Sheet (in ₹ crores)

Note: () denotes negative

How to apply for M.K. Sons Fine Jewels IPO?

  • Step 1: Log in to your Kotak Neo Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
  • Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
  • Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
  • Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
  • Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.

M.K. Sons Fine Jewels IPO FAQs

The M.K. Sons Fine Jewels IPO opens for subscription from [-] to [-], with a total issue size of [-]. The IPO price band is ₹[-] per share with a lot size of [-]. The company aims to list the shares on BSE & NSE on [-].

The M.K. Sons Fine Jewels IPO will open for subscription on [-] and will close on [-] for investors.

The minimum lot size for the M.K. Sons Fine Jewels IPO is [-] equity shares, requiring a minimum investment of ₹[-] for retail investors applying in the IPO.

The price band of the M.K. Sons Fine Jewels IPO has been fixed at ₹[-] per equity share.

You can apply for the M.K. Sons Fine Jewels IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.

M.K. Sons Fine Jewels IPO allotment will take place on [-].

You can check the M.K. Sons Fine Jewels IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.

M.K. Sons Fine Jewels shares will list on the stock exchanges on [-].

You can find detailed information about the M.K. Sons Fine Jewels IPO, including its business operations, financial performance, risk factors, and IPO objectives, in the Draft or Red Herring Prospectus (RHP).

Ramchand Murlidhar Raimalani is the Chairman and Managing Director of M.K. Sons Fine Jewels.

You can read more about M.K. Sons Fine Jewels IPO and its business from the company’s draft red herring prospectus here.

This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their own research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.

Investments in securities market are subject to market risks, read all the related documents carefully before investing. Brokerage will not exceed SEBI prescribed limit. The securities are quoted as an example and not as a recommendation. SEBI Registration No-INZ000200137 Member Id NSE-08081; BSE-673; MSE-1024, MCX-56285, NCDEX-1262.

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