Black Opal Consultants IPO Date & Timeline
Tentative schedule from the RHP.
Black Opal Consultants IPO GMP Today
Unofficial, aggregated from market sources. It never feeds our score.
Full GMP history (3 updates)
| Date & time (IST) | GMP | Change | GMP % | Est. listing |
|---|---|---|---|---|
| Oct 2, 2026 · 9:15 AM | ₹30 | +₹10 | 15.2% | ₹227 |
| Oct 1, 2026 · 4:30 PM | ₹20 | +₹6 | 10.2% | ₹217 |
| Oct 1, 2026 · 1:15 PM | ₹14 | — | 7.1% | ₹211 |
Black Opal Consultants IPO Subscription Status
From NSE + BSE bid data, excluding the anchor portion.
Day-wise subscription
| Day | QIB | bHNI | sHNI | NII total | Individual | Total |
|---|---|---|---|---|---|---|
| Shares offered | 5,31,000 | 2,66,400 | 1,33,200 | 3,98,400 | 9,30,000 | 18,59,400 |
| Day 1 · Sep 29 | 0.48× | 0.21× | 0.10× | 0.17× | 0.39× | 0.37× |
| Day 2 · Sep 30 | 0.76× | 1.49× | 1.17× | 1.38× | 1.61× | 1.32× |
| Day 3 · Oct 1 | 59.77× | 145.83× | 82.81× | 124.82× | 60.15× | 73.90× |
Black Opal Consultants IPO Details
Checked against the RHP and cross-checked on NSE and BSE.
| IPO date | Sep 29 – Oct 1, 2026 |
| Price band | ₹185 – 197 per share |
| Face value | ₹10 per share |
| Lot size | 600 shares |
| Total issue size | 27,96,000 shares ₹55.08 Cr |
| Fresh issue | 22,38,000 shares ₹44.09 Cr |
| Offer for sale | 5,58,000 shares ₹10.99 Cr |
| Issue type | Book Built · SME |
| Listing at | BSE SME |
| Market cap | ≈ ₹208.37 Cr |
| Promoter holding | 98.6% → 72.46% |
| Lead manager | Khambatta Securities Ltd. |
| Market maker | Share India Securities Ltd. |
| Registrar | Skyline Financial Services Pvt. Ltd. |
Offer documents
Black Opal Consultants IPO Lot Size
Minimum and maximum bids by investor type at the upper band of ₹197.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual (min) | 2 | 1,200 | ₹2,36,400 |
| Individual (max) | 2 | 1,200 | ₹2,36,400 |
| sHNI (min) | 3 | 1,800 | ₹3,54,600 |
| sHNI (max) | 8 | 4,800 | ₹9,45,600 |
| bHNI (min) | 9 | 5,400 | ₹10,63,800 |
Black Opal Consultants IPO Reservation
Shares set aside for each category, and the maximum number of applicants who can get an allotment.
| Category | Shares offered | % of issue | Max. allottees |
|---|---|---|---|
| Market maker | 1,39,800 | 5% | — |
| Anchor investors | 7,96,800 | 28.5% | — |
| QIB (ex-anchor) | 5,31,000 | 19% | — |
| NII (HNI) | 3,98,400 | 14.2% | — |
| ↳ bHNI (>₹10L) | 2,66,400 | 9.5% | — |
| ↳ sHNI (₹2–10L) | 1,33,200 | 4.8% | — |
| Individual investors | 9,30,000 | 33.3% | — |
| Total | 27,96,000 | 100% |
Black Opal Consultants Financials (FY24 – FY26)
Restated consolidated figures from the RHP, ₹ crore. Years end March 31. Restated consolidated.
Financial statement
| ₹ Cr | FY24 | FY25 | FY26 | YoY |
|---|---|---|---|---|
| Revenue | 19.91 | 33.04 | 42.34 | +28.1% |
| EBITDA | 6.09 | 15.65 | 17.05 | +8.9% |
| Profit after tax | 4.32 | 11.48 | 12.20 | +6.3% |
| Total assets | 13.14 | 22.44 | 59.62 | +165.7% |
| Net worth | 8.93 | 20.41 | 32.67 | +60.1% |
| Total borrowing | 1.60 | 0.20 | 9.52 | +4660.0% |
Black Opal Consultants IPO Valuation & Peer Comparison
At the upper band of ₹197. Peers from the RHP "Basis for Offer Price".
Peer comparison
| Company | P/E | P/B | RoNW |
|---|---|---|---|
| Black Opal Consultants | 13.5× | — | 46.03% |
| Homesfy Realty | 48.6× | — | 43.24% |
About Black Opal Consultants
Business profile from the RHP.
- 2020Incorporated · New Delhi (corporate office Noida)
- 2,300+Property units sold for developers
- 200+Broker associates in Delhi-NCR
- 13Employees (Aug 2026)
Promoters & holding
Prasoon Chauhan, Sheikh Arfeen Ahmed
Objects of the issue
Black Opal Consultants IPO Review: Should You Apply?
Our 100-point score, and both sides of the case.
Our view: Revenue has more than doubled in two years with ~46% return on equity, and a post-issue P/E of ~17× sits well below the listed peer. Against that, FY26 profit barely grew, debt and assets jumped, the business runs with 13 employees in one cyclical region, and ₹26 Cr of the ₹44 Cr fresh money goes into a promoter-group development LLP.
- Fast growth: revenue rose from ₹19.9 Cr (FY24) to ₹42.3 Cr (FY26) and profit nearly tripled over the same period.
- High returns for an asset-light model: RoE ~46% and RoCE ~40% in FY26, with PAT margin around 29%.
- Post-issue P/E of ~17× is far below the only listed peer, Homesfy Realty (~49×).
- Track record of 2,300+ units sold for 25+ developers, backed by a 200+ broker network in Delhi-NCR.
- Profit growth stalled in FY26 (~6%) even as revenue grew ~28%, and total assets nearly tripled, which points to rising receivables and working-capital strain.
- ₹26 Cr of the ₹44 Cr fresh issue goes into Aurika Developers LLP, a promoter-group entity building an Ayodhya project, which adds related-party and construction risk outside the core brokerage business.
- Income depends on a handful of developers and on property demand in Delhi-NCR and Uttar Pradesh; a housing slowdown or lost mandate would hit revenue directly.
- A very small organisation (13 employees) and a young company (2020), with the promoter also selling ₹11 Cr of shares in the IPO.
- SME listing: thin trading and wide spreads are common, and individual investors must apply for 2 lots (₹2.36 lakh).
- Sources disagree on several figures (promoter holding, object amounts, anchor shares, older KPIs) and the RHP could only be partly read.
Black Opal Consultants Listing Performance Updates after Oct 7
We close the loop: issue vs listing price, and whether our call was right.
Black Opal Consultants IPO Allotment Status & Contact Details
Allotment is expected on Oct 5. Check it with your PAN or application number.
Skyline Financial Services Pvt. Ltd.
- Phone
- 011-26812682
- ipo@skylinerta.com
- Website
- www.skylinerta.com
Black Opal Consultants Ltd.
- Address
- Shop No. 8, Ground Floor, C.S.C. AGCR Enclave, Delhi, New Delhi 110092
- Phone
- +91 99995 60810
- investors@blackopalgroup.in
- Website
- blackopalgroup.in
Black Opal Consultants IPO FAQs
GMP, price, lot size, dates, allotment and how to apply.
What is Black Opal Consultants IPO?
Black Opal Consultants IPO is a ₹55.08 Cr SME book built issue made up of a fresh issue of ₹44.09 Cr and an offer for sale of ₹10.99 Cr. The shares will list on BSE SME.
What is Black Opal Consultants IPO GMP today?
As of Oct 2 · 9:15 AM IST, the grey market premium is ₹30 (≈15.2%), implying an estimated listing price of about ₹227. The GMP has ranged ₹14 – 30 since Oct 1. GMP is unofficial and not a guarantee of the listing price.
What is the price band of Black Opal Consultants IPO?
The price band is ₹185 – ₹197 per equity share of face value ₹10.
What is the lot size of Black Opal Consultants IPO?
The minimum lot is 600 shares. Individual investors must apply for exactly 2 lots (1,200 shares).
What is the minimum investment for Black Opal Consultants IPO?
The minimum individual investment is ₹2,36,400 (1,200 shares at ₹197).
When does Black Opal Consultants IPO open and close?
The IPO opens on Sep 29, 2026 and closes on Oct 1, 2026.
What is the allotment date of Black Opal Consultants IPO?
The basis of allotment is expected on Oct 5, 2026. Refunds and demat credit are expected on Oct 6, 2026.
When will Black Opal Consultants IPO be listed?
The tentative listing date is Oct 7, 2026 on BSE SME.
What is Black Opal Consultants IPO subscription status?
At close (Oct 1 · 5:57 PM IST), the issue was subscribed 73.90× overall — QIB 59.77×, bHNI 145.83×, sHNI 82.81×, Individual 60.15×.
What is the P/E ratio and valuation of Black Opal Consultants IPO?
At the upper band, the P/E is 13.5× pre-issue and 17.1× post-issue, with a market cap of about ₹208.37 Cr. Listed peers include Homesfy Realty (48.6×).
Should I apply for Black Opal Consultants IPO?
IPOSignal's view is Proceed with Caution · Cheap on P/E, Group-Entity Risk (56/100). Revenue has more than doubled in two years with ~46% return on equity, and a post-issue P/E of ~17× sits well below the listed peer. Against that, FY26 profit barely grew, debt and assets jumped, the business runs with 13 employees in one cyclical region, and ₹26 Cr of the ₹44 Cr fresh money goes into a promoter-group development LLP. This is research, not investment advice.
How to check Black Opal Consultants IPO allotment status?
After Oct 5, check on the registrar Skyline Financial Services Pvt. Ltd.'s site (www.skylinerta.com/ipo.php), or on the BSE / NSE allotment pages, using your PAN or application number.
Who is the registrar and lead manager of Black Opal Consultants IPO?
The registrar is Skyline Financial Services Pvt. Ltd.. The book-running lead manager is Khambatta Securities Ltd.. The market maker is Share India Securities Ltd..