MK Sons Fine Jewels IPO Day 1: Subscribed 0.59x; NII Demand at 0.99x
Key Highlights
MK Sons Fine Jewels IPO (₹193 crore mainboard IPO) was subscribed 0.59x on Day 1 of 3, with NII at 0.99x. See category-wise subscription and day-wise bids.
Last updated: Wed, Oct 28, 2026, 5:00 PM IST · mainboard · & · Day 1 of 3
- MK Sons Fine Jewels IPO subscribed 0.59x overall on Day 1
- Total bids: 70,10,003 shares against 1,19,00,000 shares on offer
- Category-wise: 0.96x, 0.99x, 0.20x
- Price band: ₹153 to ₹162 per share
- The issue closes on Fri, Oct 30, 2026
The MK Sons Fine Jewels IPO opened for subscription on day 1 of 3 trading days. The issue recorded an overall subscription multiple of 0.59x as of 5:00 PM IST on October 28, 2026. The non-institutional investors (NII), which refers to investors bidding above ₹2 lakh, led the demand with a subscription multiple of 0.99x. This category accounted for the highest interest among all investor groups during the first day of the offer.
MK Sons Fine Jewels IPO Status: Day 1
Day-wise subscription
| Day | Date | Total bids (shares) | Bid value at upper band (₹ crore) | Subscribed (x) |
|---|---|---|---|---|
| Day 1 | Wed, Oct 28, 2026 | 70,10,003 | 113.56 | 0.59x |
Category-wise subscription
| Category | Shares offered | Day 1 bids | Day 1 (x) |
|---|---|---|---|
| QIB | 34,00,000 | 32,72,360 | 0.96x |
| NII | 25,50,000 | 25,23,976 | 0.99x |
| of which individual NII | — | 25,05,412 | — |
| of which other NII | — | 18,564 | — |
| Retail | 59,50,000 | 12,13,667 | 0.20x |
| Total | 1,19,00,000 | 70,10,003 | 0.59x |
The subscription data shows that the NII category reached 0.99x, while qualified institutional buyers (QIB) reached 0.96x. Retail investors recorded a subscription multiple of 0.20x. Across all categories, the total number of shares bid for was 70,10,003 against the 1,19,00,000 shares offered. No category exceeded its allocated quota on the first day of the public issue.
MK Sons Fine Jewels IPO Offer Details
| Field | Value |
|---|---|
| IPO date | Wed, Oct 28, 2026 to Fri, Oct 30, 2026 |
| Listing date | To be announced |
| Face value | ₹10 per share |
| Price band | ₹153 to ₹162 per share |
| Lot size | 91 shares |
| Total issue size | 1,70,00,000 shares (₹193 crore) |
| Listing at | NSE & BSE |
| Lead managers | Aryaman Financial Services Ltd. |
| Bigshare Services Pvt Ltd |
About MK Sons Fine Jewels
MK Sons Fine Jewels Ltd. is a retail jewellery chain operating five showrooms across Mumbai and Ahmedabad. As per the DRHP, the company offers a portfolio of over 19,442 SKUs, including gold, diamond, colour stone, platinum, and silver jewellery. The business caters to both premium and value-conscious segments. Since 2012, the company has marketed and sold jewellery through its own retail chain. In March 2025, the company acquired the proprietorship business of its promoter, Ramchand Murlidhar Raimalani, to consolidate operations under a single corporate entity and align the business structure with broader stakeholder interests.
MK Sons Fine Jewels Financial Highlights
| Metric | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| from operations (₹ crore) | 538.74 | 351.28 | 217.32 |
| Total income (₹ crore) | 538.86 | 351.32 | 217.39 |
| Profit after tax (₹ crore) | 51.80 | 23.26 | 8.17 |
| Net worth (₹ crore) | 168.01 | 116.23 | 22.29 |
| Total borrowings (₹ crore) | 40.47 | 47.53 | 31.30 |
| (₹) | 12.13 | 10.26 | 3.63 |
Revenue from operations grew from ₹351.28 crore in FY 2024-25 to ₹538.74 crore in FY 2025-26. Profit after tax increased from ₹23.26 crore in FY 2024-25 to ₹51.80 crore in FY 2025-26. The company reported a debt-to-equity ratio of 0.24x at the end of FY 2025-26.
Objects of the Issue
| Purpose | Amount (₹ crore) |
|---|---|
| Funding expenditure towards setting up of 1 new showroom in Maharashtra and expansion | 151.51 |
| Repayment and/or pre-payment, in full or part, of certain borrowings | 30.00 |
Risk Factors as per the DRHP
- The company relies on third-party manufacturers and Karigars for production, which exposes the business to potential supply chain disruptions that could impact the availability of its 19,442 SKUs.
- The business operates in the fragmented Indian jewellery retail market and faces intense competition from various players, which may affect its ability to maintain market share and pricing.
- The company is subject to risks of fraud, theft, and employee misconduct, and it also faces potential adverse outcomes in ongoing tax and regulatory litigation involving the business.
How to Check MK Sons Fine Jewels IPO Subscription Status
Live bidding figures are published by NSE & BSE while the issue is open. Once it closes, allotment status is published by the registrar, Bigshare Services Pvt Ltd.
This article is for information only and is not investment advice. Subscription figures are based on exchange data as of Wed, Oct 28, 2026, 5:00 PM IST and can change. IPO investments are subject to market risks; read the offer document carefully before investing.