BO

Black Opal Consultants IPO

GMP, Subscription, Price, Allotment, Listing Date & AI Prediction

closed

BSE SME

PRICE BAND

Rs 185 - 197

LOT SIZE

1,200

Shares

MIN INVEST

Rs 2.4L

CUT-OFF

Rs 197

per share

Open

29 Sept 2026

Last Day

01 Oct 2026

Allotment

05 Oct 2026

Expected Refund

06 Oct 2026

Listing

07 Oct 2026

GMP Today

24m ago

+33.5%

+Rs 66 premium

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GMP Graph

Est. Listing Price

GMP Based

Rs 263

Issue Price + GMP (Dynamic)

Est. Profit (1 Lot)

GMP Based

+Rs 79,200

+33.5% (1200 shares)

Subscription

72.85x

Not open

Sub. Page

Final Subscription

Final subscription snapshot

Final subscription data is being compiled.

Current IPO Status: closed

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About Black Opal Consultants

Real Estate Services

Black Opal Consultants was incorporated in 2020 and works with developers including Gaurs Group, SKA, Galaxy, Shapoorji Pallonji, Max Estates and M3M. The company has a network of more than 200 broker associates and focuses primarily on residential and commercial projects in the NCR and other markets. It has also diversified into real estate development through Aurika Developers LLP, in which it holds a 76% interest. Aurika Developers is developing the Veda commercial and hospitality project in Darshan Nagar, Ayodhya, Uttar Pradesh.

IPO_DETAILS_LONG: Black Opal Consultants IPO is a BSE SME book-built issue of 27,96,000 equity shares of face value ₹10 each aggregating up to ₹55.08 Cr at the upper price band. The issue comprises a fresh issue of 22,38,000 shares aggregating up to approximately ₹44.09 Cr and an OFS of 5,58,000 shares aggregating up to approximately ₹11.00 Cr. The price band is ₹185 to ₹197 per share and the stated lot size is 600 shares. The minimum retail application is 1,200 shares, or two lots, amounting to ₹2,36,400 at the upper price band. The IPO opens on September 29, 2026 and closes on October 1, 2026. Allotment is scheduled for October 5, refund and share credit for October 6, and listing on BSE SME is scheduled for October 7, 2026. The company proposes to use ₹7.00 Cr for securing sales and marketing mandates and ₹26.00 Cr for investment in Aurika Developers LLP for financing its Ayodhya project. The balance is proposed for general corporate purposes.

Issue Details

Total Issue Size

Rs 55 Cr

Issue Size for Retail

Rs 19.28 Cr

Fresh Issue vs OFS

Fresh Issue
Rs 44.09 Cr (80%)
OFS
Rs 11 Cr (20%)

Reservation Quota

QIB

49.97%

Retail

35.01%

NII

15.02%

Lead Manager

Khambatta Securities Limited

Registrar

Skyline Financial Services Private Limited

Objects of the Issue (as per DRHP)

  • 1Funding for securing Sales/Marketing mandates - 7.00 Cr
  • 2Investment in Aurika Developers LLP, one of the Group Entities, for financing the development of its Ayodhya Project - 26.00 Cr
  • 3General Corporate Purposes - balance of net proceeds after the above specified objects and issue expenses

Key Performance Indicator (KPI)

KPIMar 31, 2025Mar 31, 2026
ROE78.24%46.03%
ROCE75.05%40.12%
Debt/Equity0.010.29
RoNW56.24%37.40%
PAT Margin34.93%29.11%
EBITDA Margin47.63%40.62%
Price to Book Value5.03
Check IPO Peer Comparison here.
Pre IPOPost IPO
EPS (Rs)14.6311.54
P/E (x)13.4717.07
Promoter Holding98.60%72.46%
Market CapRs 208.37 Cr.

Prasoon Chauhan; Sheikh Arfeen Ahmed

Black Opal Consultants Financials

Company financial data by reporting period. Amounts in Rs crore; ratios and percentages as labelled. A dash means not available, not zero.
MetricFY24FY25FY26
Total Income19.9133.0442.34
Net Profit (PAT)4.3211.4812.2
EBITDA6.0915.6517.05
Borrowings1.60.29.52
ROE63.86%78.24%46.03%
ROCE55.86%75.05%40.12%
Debt/Equity0.180.010.29
Assets13.1422.4459.62

Company Financials

Financial charts load as you reach this section.

MARKET SENTIMENT SCORE

0
50
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NA

Based on expert reviews, GMP trends & market signals

Expert Reviews & Opinions

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Reviews are summarized from YouTubers, analysts, news channels, and brokerage firms using AI.

Company Contact Details

Shop No. 8, Ground Floor, C.S.C. AGCR Enclave, East Delhi, Delhi - 110092
+91 9999560810
[email protected]
Visit Website

Anchor Book

Vikasa India EIF I Fund - Incube Global OpportunitiesV-CUBF Ventures Investment Trust - V-Cube Ventures Scheme 1Visionary Capital FundCraft Emerging Market Fund PCC - Elite Capital FundUpsurge Opportunities Fund 1Shincho Asia Capital - Sub Fund

Green Flags

  • Revenue increased from ₹19.91 Cr in FY24 to ₹42.34 Cr in FY26.
  • PAT increased from ₹4.32 Cr in FY24 to ₹12.20 Cr in FY26.
  • FY26 ROE was 46.03%.
  • FY26 ROCE was 40.12%.
  • FY26 debt/equity was 0.29x.
  • Established relationships with multiple large real estate developers.
  • More than 200 broker associates support the sales network.
  • Expansion into real estate development through Aurika Developers LLP.

Red Flags

  • FY26 EBITDA margin declined to 40.62% from 47.63% in FY25.
  • FY26 PAT margin declined to 29.11% from 34.93% in FY25.
  • Borrowings increased sharply from ₹0.20 Cr in FY25 to ₹9.52 Cr in FY26.
  • A significant portion of fresh issue proceeds is being invested in the group entity Aurika Developers LLP.
  • The company is exposed to the cyclicality of the real estate market and dependence on successful project sales.
  • The IPO includes an OFS of approximately ₹11 Cr, with proceeds going to selling shareholders.
  • === END ===

Grey Market Premium

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Frequently Asked Questions

What is the price band of Black Opal Consultants IPO?

The price band is Rs 185-197 per share. One lot contains 1200 shares; its value at the upper price is Rs 2,36,400. Check the issue terms for the minimum application size applicable to your category.

What are the bidding dates for Black Opal Consultants IPO?

The scheduled bidding period is 29 Sept 2026 to 1 Oct 2026.

When is Black Opal Consultants IPO scheduled to list?

The scheduled listing date is 7 Oct 2026. The actual listing price is determined on the exchange, not by the grey market premium or an AI estimate.

Who is the registrar for Black Opal Consultants IPO?

Skyline Financial Services Private Limited is the registrar. See the allotment page for the available schedule and official checking link.

Who manages Black Opal Consultants IPO?

Lead manager information recorded for this issue: Khambatta Securities Limited.

Disclaimer

IPOGyani is not SEBI registered and does not provide investment advice. All information is for educational purposes only.

AI predictions are probabilistic estimates based on historical data and market trends. Past performance is not indicative of future results.

GMP (Grey Market Premium) data is sourced from various unofficial channels and may not be accurate. Always verify from multiple sources.

Investors should do their own research (DYOR) and consult a SEBI registered advisor before investing.

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