M K Sons Fine Jewels IPO subscribed 11% so far on Day 1; check latest GMP

In the grey market, the M K Sons Fine Jewels shares were commanding a premium of 5 percent on the morning of October 28, as per InvestorGain. Read Also: EAAA India Alternatives IPO booked 38% so far on Day 3; check latest GMP The grey market premium is an unofficial indicator of investor sentiment towards a public issue before its listing. However, it does not guarantee listing gains, and the premium can fluctuate depending on market conditions and investor demand.

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 bidding will 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. 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). 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. 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.