MK Sons Fine Jewels sets IPO price band at 153 to 162 rupees to raise 275 crore

MK Sons Fine Jewels has fixed its share price band at ₹153 to ₹162 for an initial public offering worth ₹275.4 crore. The public issue opens for retail and other investors on October 28 and closes on October 30. Anchor investors can bid for shares on October 27, which is a day before the main issue opens.

Offer Details

The share offering includes a fresh issue of up to 1.36 crore equity shares and an offer for sale of up to 34 lakh equity shares. Promoter Ramchand Murlidhar Raimalani is selling part of his existing holding through this offer for sale. The company plans to list its shares on both the Bombay Stock Exchange and the National Stock Exchange of India. Aryaman Financial Services is the sole book-running lead manager, and Bigshare Services is the registrar.

Fund Usage

Money raised from the fresh issue will help the company expand its retail footprint and strengthen its finances. Part of the funds will go toward opening a new showroom in Maharashtra and expanding an existing one in Gujarat. The company also intends to repay or prepay certain loans and meet general corporate needs. Meanwhile, the money from the offer for sale goes directly to the selling promoter rather than the company.

Company Background

Founded in 2012, MK Sons Fine Jewels designs, makes, and sells fine jewellery. It offers more than 19,442 stock-keeping units with products starting at roughly ₹11,000 for everyday pieces and going up to high-value bridal jewellery. The retailer runs five showrooms in Mumbai and Ahmedabad. For the 2025-26 financial year, the firm reported a profit after tax of ₹52 crore and revenue from operations of ₹539 crore.

Context

Initial public offerings allow private companies to raise capital from public markets by issuing new shares while giving early backers a chance to sell their stakes. Retail jewellery businesses in India often use fresh capital to scale up their store networks and meet growing consumer demand for branded designs.