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₹8 GMP Today: Is the MK Sons Fine Jewels IPO Worth ₹14,742?
The MK Sons Fine Jewels IPO opens Oct 28 at ₹153 to ₹162. IPO GMP today is ₹8, about 4.94% over the top price. Here is the lot size, the dates, the numbers and what to check before you apply.
One lot of the MK Sons Fine Jewels IPO costs ₹14,742, and the grey market says it might be worth ₹728 more on listing day. That is the whole pitch in one line. The Sons Fine Jewels IPO opens tomorrow, and the IPO GMP today sits at ₹8 a share, a signal one tracker calls "weak positive".
New to IPOs? Start with our full guide: How to invest in IPO in India: allotment, GMP and tax. More in IPO investing in India: all guides.
This is general education, not investment advice and not a recommendation to apply for any IPO. Check the RHP and consult a SEBI-registered adviser before you invest.
So is it a quick listing win, a long-term jewellery bet, or neither? Let's go through the numbers that are actually on the table.
Quick answer
- The Sons Fine Jewels IPO opens Oct 28 and closes Oct 30, at a price band of ₹153 to ₹162 a share.
- One lot is 91 shares, so the minimum retail bid is ₹14,742 at the upper price.
- IPO GMP today is ₹8, pointing to an estimated listing price of ₹170, or about 4.94% above the issue price.
- Allotment is expected on Nov 2 and listing on NSE and BSE on Nov 4 (tentative).
MK Sons Fine Jewels IPO: dates, price band and lot size
Short answer: The ₹275.40 crore issue mixes a ₹220.32 crore fresh issue with a ₹55.08 crore offer for sale.
This is a mainboard book-built issue of ₹275.40 crores. It has two parts: a fresh issue of 1.36 crore shares worth ₹220.32 crores, and an offer for sale of 34,00,000 shares by existing holders worth ₹55.08 crores.
The fresh issue is new money for the company. The offer for sale money goes to the sellers, not into the business.
Here are the key dates, as listed by Chittorgarh:
- Opens: Wednesday, Oct 28
- Closes: Friday, Oct 30
- Basis of allotment: Monday, Nov 2
- Shares in demat: Nov 2
- Listing: Wednesday, Nov 4 (tentative), on BSE and NSE
The face value is ₹10 per share. Aryaman Financial Services is the lead manager and Bigshare Services is the registrar, so the allotment status will show up on Bigshare's site.
What the company actually does
Short answer: MK Sons Fine Jewels, incorporated in 2012, sells gold, diamond and CZ jewellery from showrooms in Mumbai and Ahmedabad.
MK Sons Fine Jewels was incorporated in 2012. It sells gold, diamond and CZ (cubic zirconia) jewellery from its own showrooms in Mumbai and Ahmedabad.
It runs 5 retail showrooms across Maharashtra and Gujarat, in busy spots like Bandra, Andheri, Zaveri Bazaar, C.G. Road and Sindhu Bhavan Road. Its collections include names like Pavitra, Rivaaz, Sitaare and NAQSH, covering bridal, festive and daily wear.
As on June 30, 2026, it offered more than 19,442 SKUs. That includes over 14,582 gold jewellery designs and 4,860 diamond and precious stone designs. It buys finished jewellery from third-party vendors across Western India rather than making it in-house, and it had 148 permanent employees as on September 30, 2026.
The growth numbers behind the IPO
Short answer: Revenue grew 53% and profit after tax rose 123% between FY25 and FY26.
The headline is strong. Between FY25 and FY26, revenue grew 53% and profit after tax rose 123%, according to the company's restated financials shown on Chittorgarh.
Here is how profit after tax has moved, in ₹ crore:
Source: Chittorgarh (restated financials)
Total income, also in ₹ crore, went from 217.40 in FY24 to 351.32 in FY25 and 538.86 in FY26. In the three months to June 30, 2026 alone, it was 101.45, with profit after tax of 15.02.
Borrowings are modest next to that. Total borrowing was 68.44 at March 31, 2026 and 70.52 at June 30, 2026, against a net worth of 183.04 (all in ₹ crore).
Where the IPO money will go
Short answer: Most of the money comes from the fresh issue and goes to the company's stated uses below.
From the fresh issue, the company plans to spend, in ₹ crore:
- 152.84: setting up 1 new showroom in Maharashtra and expanding an existing showroom in Gujarat
- 30.00: repaying or prepaying some borrowings
- The rest: general corporate purposes
So most of the new money goes into stores. That makes sense for a retail jeweller, but it also means growth depends on new and bigger showrooms pulling in buyers.
Valuation: what are you paying?
Short answer: At the upper band the P/E is 13.36 before the IPO and 16.1 after it.
At the upper price band, Chittorgarh puts the P/E at 13.36 before the IPO and 16.1 after it. Earnings per share (in ₹) drops from 12.13 to 10.06 because more shares are issued.
The market cap at the offer price is ₹691.59 Cr before the issue and ₹966.99 Cr after it. Promoters hold 100% before the IPO and 69.8% after.
For context, recent jewellery IPOs listed on Chittorgarh had mixed debuts. Deepa Jewellers (issue price ₹177) closed listing day up 9.81%, Lalithaa Jewellery Mart (₹201) closed up 23.60%, and Shankesh Jewellers (₹93) gained just 1.96%.
IPO GMP today: how to read the ₹8
Short answer: The GMP is ₹8 a share, about ₹728 on a ₹14,742 lot, which is a thin and unofficial signal.
GMP, or grey market premium, is the unofficial price traders pay over the issue price before a stock lists. For this IPO it was ₹0 on Oct 23, moved to ₹7 on Oct 24, and has been ₹8 since Oct 26, as per GMPWatch and IPOwiz.
At ₹8 over ₹162, the estimated listing price is ₹170. That is a 4.94% gain, or about ₹728 on one lot of 91 shares, before brokerage and taxes.
IPOwiz calls a GMP near 4.9% "a weak positive signal" and says the listing premium may stay limited unless subscription picks up. GMP is not regulated and can change daily, so treat it as a mood reading, not a promise.
Before you apply: a simple checklist
Short answer: If you only want a listing gain, ₹728 on ₹14,742 is thin, so decide your goal first.
- Decide your goal. If it is only a listing gain, ₹728 on ₹14,742 is thin, and it can vanish if the market turns.
- Read the RHP. Check risks like dependence on 5 showrooms in two states and buying from outside vendors.
- Watch subscription. GMP and demand often move together, so see how bids come in over the three days.
- Apply through UPI or ASBA from your broker or bank, and keep your PAN handy to check allotment on Nov 2.
FAQs
What is the MK Sons Fine Jewels IPO GMP today? It is ₹8 per share, which points to a listing price of about ₹170 against the ₹162 upper price.
What is the minimum investment? One lot of 91 shares, which costs ₹14,742 at the upper price band.
When is the allotment and listing date? Allotment is expected on Nov 2 and listing on Nov 4, both tentative.
Is the Sons Fine Jewels IPO good for long term? Profit has grown fast and debt is low, but a P/E of 16.1 after the issue and a small store base are worth weighing. Read the RHP and decide for your own goals.
This article is for education only and is not investment, tax or legal advice.
Related reading
- How to invest in IPO in India: allotment, GMP and tax
- Special Steels IPO GMP and lot size
- How to check IPO allotment status: EAAA IPO
- IPO investing in India: all guides
This is general education, not investment advice and not a recommendation to apply for any IPO. Check the RHP and consult a SEBI-registered adviser before you invest.
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