M K Sons Fine Jewels priced its IPO at ₹153-162 per share, targeting ₹275.4 crore in fresh equity and ₹55.08 crore from an offer‑for‑sale. The fresh issue totals 1.36 crore shares, while 34 lakh shares are being sold by promoters.
FY26 revenue surged 53.4% to ₹538.7 crore from ₹351.3 crore in FY25, while net profit more than doubled to ₹51.8 crore. The quarter ended June 2026 saw a ₹15 crore profit on ₹101.4 crore sales, a 122% YoY increase.
Nine anchor investors already committed ₹82.62 crore, with Venus Investment leading at ₹17.01 crore for 10.5 lakh shares. Advent Global, Khandelwal Finance, Tiger Strategies, and others followed, underscoring strong pre‑market interest.
At the upper band, the company trades at 17.6x post‑issue P/E and 11.7x EV/EBITDA, according to Anand Rathi. SBI Securities labels the issue neutral, citing showroom concentration and gold price sensitivity as risks.
Net proceeds of ₹152.8 crore will fund a new Maharashtra showroom and expand an Ahmedabad location, while ₹30 crore will clear debt. Remaining funds are earmarked for general corporate purposes.
The IPO will close on Oct 30, with allotment expected by Nov 2 and listing on Nov 4. Analysts project that the 6% grey‑market premium may translate into a strong first‑day opening, but valuation relative to peers will remain a focus.