Jewellery - Retail & Manufacturing - Listed on 04 November 2026
M.K. Sons Fine Jewels (Jewellery - Retail & Manufacturing) closed its IPO window in 2026 and listed on NSE and BSE on 04 November 2026 at an upper band issue price of Rs 162, opening at Rs 171 for a listing gain of +5.6% and closing day one at Rs 162.2 (+0.1% on closing basis). The IPO was subscribed 5.09x overall - QIB 1.84x, HNI/NII 14.12x, Retail 3.08x. The total issue size was Rs 275.4 Cr (Fresh Issue Rs 220.32 Cr, OFS Rs 55.08 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Jewellery - Retail & Manufacturing
M. K. Sons Fine Jewels is a jewellery retailer operating five showrooms across Maharashtra and Gujarat. Its product range includes gold, diamond, colour-stone, platinum and silver jewellery, with gold jewellery forming the largest share of revenue. The company serves customers through multiple jewellery collections and has expanded its business through the integration of its promoter's earlier jewellery proprietorship.
Issue structure, listing outcome and context
The ₹275.40 crore IPO comprised a ₹220.32 crore fresh issue and a ₹55.08 crore offer for sale, priced at ₹162 per share at the upper end of the ₹153 to ₹162 price band. The issue was subscribed 5.09 times overall, with QIB, NII and retail portions subscribed 1.84 times, 14.12 times and 3.08 times respectively. Shares listed on NSE at ₹171 on 4 November 2026, a 5.56% premium to the issue price, and closed at ₹162.20, up 0.12% from the issue price. User-provided Day 3 GMP was 4.8% and IPOGyani AI prediction was 4.2%.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 15 | +9.26% |
| Day 2 | Rs 12.5 | +7.72% |
| Day 3 | Rs 7.78 | +4.80% |
| Day 4 | Rs 5.5 | +3.40% |
| Day 5 | Rs 5.5 | +3.40% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
Prediction Accuracy: 1.4 pp (Highly accurate)
How the broader market moved around the M.K. Sons Fine Jewels IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
M.K. Sons Fine Jewels IPO listed at +5.6% versus the upper issue price of Rs 162 on 04 November 2026.
M.K. Sons Fine Jewels IPO was subscribed 5.09x overall. QIB portion was subscribed 1.84x, HNI / NII 14.12x and Retail 3.08x.
IPO GMP started at Rs 15 on Day 1 and moved to Rs 5.5 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.