MK Sons Fine Jewels Ltd has fixed a price band of ₹153 to ₹162 per share for its upcoming initial public offering (IPO) worth ₹275.4 crore. The public issue will open for subscription on October 28 and close on October 30, the jewellery retailer said.
The bidding for anchor investors will take place on October 27, a day before the issue opens for retail and other investors.
The proposed IPO comprises a fresh issue of up to 1.36 crore equity shares and an offer for sale (OFS) of up to 34 lakh equity shares by promoter Ramchand Murlidhar Raimalani, according to a company statement.
The company's shares are proposed to be listed on the BSE and the National Stock Exchange of India (NSE).
MK Sons Fine Jewels plans to utilise the proceeds from the fresh issue for expanding its retail presence and strengthening its financial position.