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Black Opal Consultants IPOLISTED
Black Opal Consultants Limited provides real estate sales, consulting, advisory and loan syndication services, partnering with leading developers to market residential and commercial projects.
Listing price
₹200
Listing gain
+1.52%
Current
₹200
Listed
07 Oct 26
Opens
29 Sept 26Closes
01 Oct 26Allotment
05 Oct 26Refund
06 Oct 26Demat
06 Oct 26Listing
07 Oct 26Listed at
₹200
+1.52% on 07 Oct 26
Overview
Price band
₹185-197
Lot size
600 shares
Min. investment
₹2,36,400
Issue size
₹55.08 Cr
27.96 L shares
Fresh issue
₹44.09 Cr
22.38 L shares
Offer for sale
₹10.99 Cr
5.58 L shares
Face value
₹10 / share
Issue type
Book Built Issue
Listing at
BSE
Reservation
| Category | Shares offered | % of issue |
|---|---|---|
| Market Maker | 1,39,800 | 5% |
| Anchor Investor | 7,96,200 | 28.48% |
| QIB | 5,31,600 | 19% |
| NII (HNI) | 3,98,400 | 14.25% |
| B-HNI | 2,65,600 | 9.49% |
| S-HNI | 1,32,800 | 4.76% |
| Individual | 9,30,000 | 33.27% |
| Total | 27,96,000 | 100% |
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,200 | ₹2,36,400 |
| Retail (Max) | 2 | 1,200 | ₹2,36,400 |
| S-HNI (Min) | 3 | 1,800 | ₹3,54,600 |
| S-HNI (Max) | 8 | 4,800 | ₹9,45,600 |
| B-HNI (Min) | 9 | 5,400 | ₹10,63,800 |
Listing performance
NSE/BSE: BLACKOPALCONSULTANTSListing gain
+1.52%
Gain per retail lot
₹3,600
Latest vs issue
—
GMP was
—
Issue price
Listing price
Latest price appears here during market hours.
Black Opal Consultants Live GMP
Not enough GMP history yet to draw a trend.
Subscription
01 Oct, 08:48 pmOversubscribed 73.88 times · 59,685 applications
Total applications
59,685
Total bid amount
₹2,707 Cr
Category breakdown
| Category | Shares offered | Shares bid | Times | Bid amount |
|---|---|---|---|---|
| QIB | 5,31,600 | 3,17,38,200 | 59.70x | ₹625 Cr |
| NII (HNI) | 3,98,400 | 4,97,29,800 | 124.82x | ₹980 Cr |
| B-HNI | 2,65,600 | 3,87,32,400 | 145.83x | ₹763 Cr |
| S-HNI | 1,32,800 | 1,09,97,400 | 82.81x | ₹217 Cr |
| Retail | 9,30,000 | 5,59,42,800 | 60.15x | ₹1,102 Cr |
| Total | 18,60,000 | 13,74,10,800 | 73.88x | ₹2,707 Cr |
Application-wise breakup
| Category | Applications reserved | Applied | Times |
|---|---|---|---|
| B-HNI | 147 | 7,082 | 48.18x |
| S-HNI | 73 | 5,765 | 78.97x |
| Retail | 775 | 46,619 | 60.15x |
Allotment chance per application is roughly 1 ÷ times for the category (lottery for retail and S-HNI).
Financials
(₹ in crores)
Key performance indicators
As of 31 Mar 2026ROE
46.03%
PAT Margin
29.11%
ROCE
40.12%
EBITDA Margin
40.62%
Debt to Equity Ratio
0.29
RoNW
37.4%
Valuation vs listed peers
EPS Pre IPO
₹14.63
EPS Post IPO
₹11.54
P/E Pre IPO
13.47
P/E Post IPO
17.07
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY24 → FY26
+112.7%
Profit growth FY24 → FY26
+182.4%
ROCE
40.12%
- PAT margin 29.1% and ROCE 40.1%.
Strengths & risks
- Strong Developer Network with 25+ developers.
- Proven Track Record with 2,300+ units sold.
- Exclusive Mandates provide dedicated project inventory.
- Experienced Promoters with 25+ years of experience.
- Diversified Services across brokerage, underwriting and loan syndication.
Buzz score · Neutral
From GMP, subscription and issue size
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Funding for securing Sales/Marketing mandates. | 7 |
| Investment in Aurika Developers LLP, one of Group Entity, for financing the development of its Ayodhya Project. | 26 |
| General Corporate Purposes. | - |
Company & documents
Black Opal Consultants Limited is a promoter-driven real estate services company engaged in real estate brokerage, property advisory, loan syndication and related services across residential and commercial properties. It primarily focuses on newly constructed and under-construction properties and supports developers and property buyers in transactions.
The Company works with developers through exclusive and semi-exclusive sales mandates, earning brokerage income from property sales. Under its inventory underwriting model, it provides advances to developers to secure inventory. It has worked with 25+ developers, sold 2,300+ units and has a network of 200+ broker associates across Delhi-NCR.
Service Offerings:
- Real Estate Brokerage: Brokerage from exclusive and semi-exclusive sales mandates.
- Property Advisory: Product positioning, pricing, market research and inventory structuring.
- Loan Syndication: Financing assistance for developers and buyers.
- Real Estate Development: Development activities through Group Entities in Tier-II cities.
The Company also works with Group Entities such as Aurika Homes Private Limited and Aurika Projects LLP to market and sell their project inventories.
Black Opal has expanded into real estate development through Aurika Developers LLP and Black Opal Ventures LLP. Aurika Developers is developing “Veda”, a commercial and hospitality project in Ayodhya, while Black Opal Ventures is developing the “Hummingbird” residential project in Ghaziabad.
Registrar
Company contact
Black Opal Consultants Limited
Shop No. 8, Ground Floor, C.S.C. AGCR Enclave, Delhi, New Delhi, 110092
Phone: +91 9999560810
Email: investors@blackopalgroup.in
Book running lead managers
- Khambatta Securities Ltd.
Promoters
- Prasoon Chauhan
- Sheikh Arfeen Ahmed