M.K. Sons Fine Jewels to launch Rs 275.4 crore IPO

M.K. Sons Fine Jewels Limited is launching an initial public offering (IPO) valued at up to Rs 275.4 crore. The offering includes a fresh issue of 1.36 crore equity shares and an offer for sale of up to 34 lakh equity shares by promoter Ramchand Murlidhar Raimalani.

Ahead of the public subscription, which runs from October 28 to October 30, 2026, the company secured Rs 82.62 crore from nine anchor investors. These investors, including Goldman Sachs Bank Europe SE and several global funds, were allotted 51 lakh equity shares at Rs 162 per share.

The company intends to use the proceeds from the fresh issue to establish a new showroom in Maharashtra, expand an existing showroom in Gujarat, repay outstanding borrowings, and fund general corporate purposes. Incorporated in 2012, the retailer operates five showrooms across Mumbai and Ahmedabad, specializing in gold, diamond, and cubic zirconia jewellery under the MK Jewels brand.