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Black Opal Consultants IPO
Price Band
₹185.0–197.0
Issue Size
₹55.08 Cr
Lot Size
600 shares
Min Investment
₹236,400
2 LOTS MIN
GMP
—
Issue Price
₹197.0
Black Opal Consultants IPO AI Summary
- Black Opal Consultants IPO is upcoming on BSE SME in the Residential, Commercial Projects sector.
- Price band: ₹185.0–₹197.0 per share, lot size 600 shares (min. investment ₹236,400, 2 lots minimum).
- Subscription window: 29 Sep–01 Oct 2026, listing on 07 Oct 2026.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
IPO not open yet
Opens 29 Sep 2026 · in 1 days
Black Opal Consultants IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
TopFund Score — Listing Data Indicator
GMP is 0.0% above issue price
Subscription not open yet
No anchor allocation for this IPO
Similar IPOs (same IPO type) averaged 30.9% listing gain
A rules-based composite of GMP, subscription demand, anchor participation and comparable-IPO history — each weighted as shown above. Not a statistically validated probability, a guarantee of listing performance, or personalized investment advice.
Limitations: weights are fixed by TopFund, not backtested against outcomes; the "Historical Similar-IPO Performance" factor needs at least 3 comparable past listings and falls back to a broader, less specific cohort when this sector/type doesn't have enough; GMP and subscription data can change daily right up to listing day, so scores shown may already be stale — check the "as of" date above.
About the Company
Incorporated in 2020, Black Opal Consultants Limited works with well-known real estate developers such as Gaurs Group, SKA, Galaxy, Shapoorji Pallonji, Max Estates, and M3M to market and sell their residential and commercial projects. The Company signs exclusive or semi-exclusive sales rights to market and sell specific units within a project in return for brokerage income. The Company also works with its Group Entities, such as Aurika Homes Private Limited to market and sell Aurika Homes’ projects in return for brokerage income. This helps strengthen group synergies and enhances business growth. Black Opal has a network of more than 200 brokers, which helps expand its reach. It also uses platforms like Facebook and Google for marketing. Core service offerings: Consulting & Advisory Services Exclusive Sale Arrangements: Commission or margin on the sale of underwritten/exclusively mandated inventorie Loan Syndication Services: Commissions or success fees for arranging developer and buyer financing. Real Estate Development through group entities operating in Tier -II cities in India The Company works in both residential and commercial segments, mainly focusing on new and under-construction properties. It supports developers in selling their projects and helps customers buy properties. Black Opal has entered the development business through Aurika Developers LLP. Its first project, “Veda”, is a commercial and hospitality project in Darshan Nagar, Ayodhya. Key strengths In-depth Asset & Project Management Expertise and Proven Track Record in Project Sales Experienced Professional Team Strategic Partnerships with Developers such as Gaurs Group, SKA, Shapoorji Pallonji, Max Estates, and M3M for Exclusive Mandate Strong and Reputed Customer Base Strategic Foray into High-Margin Real Estate Development with Tier II City Focus Strengthen Agent Network Through Training and Support
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 59.62 | 22.44 | 13.14 |
| Total Income | 42.34 | 33.04 | 19.91 |
| Profit After Tax | 12.20 | 11.48 | 4.32 |
| EBITDA | 17.05 | 15.65 | 6.09 |
| NET Worth | 32.67 | 20.41 | 8.93 |
| Reserves and Surplus | 243.26 | 195.77 | 80.96 |
| Total Borrowing | 9.52 | 0.20 | 1.60 |
Key Ratios
EPS
₹14.63
NAV
₹244.76
ROE
56.25%
ROCE
75.05%
RoNW
56.25%
P/B Value
0.80
P/E Ratio
13.47
Market Cap
₹208.37 Cr
PAT Margin
34.94%
Debt/Equity
0.01
Peer Comparison
| Company | NAV | RoNW | EPS Basic | EPS Diluted |
|---|---|---|---|---|
| Homesfy Realty Limited | 92.06 | -68.98% | -63.5 | -63.41 |
| Black Opal Consultants Ltd. This IPO | 39.17 | 37.4% | 14.65 | 14.65 |
Promoters
Prasoon Chauhan, Sheikh Arfeen Ahmed
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding for securing Sales/Marketing mandates 7.00 2 Investment in Aurika Developers LLP, one of Group Entity, for financing the development of its Ayodhya Project 26.00 3 General Corporate Purposes Total 33.00
IPO Evaluation
Generated 27 Sep 2026Revenue Trend
Total income was ₹19.91 Cr in the year ending 31 Mar 2024, increasing to ₹33.04 Cr by 31 Mar 2025, and further rising to ₹42.34 Cr by 31 Mar 2026. This indicates a consistent upward trend in revenue over the reported periods.
Profit Trend
Profit after tax was ₹4.32 Cr for the year ending 31 Mar 2024, which grew to ₹11.48 Cr by 31 Mar 2025, and reached ₹12.20 Cr by 31 Mar 2026. This shows a positive trend in profitability across the periods.
Valuation
Priced at a P/E ratio of 13.47, the IPO's implied P/E is in line with peers, which have a NAV of ₹39.17 and a RoNW of 37.4%.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of shares before they are listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on demand in this unofficial market. A higher GMP suggests strong demand, while a lower GMP may indicate weaker interest.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential, market position, and overall financial health.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainties.
IPO Timeline, Explained
The IPO is scheduled to open on 29 September 2026 and close on 1 October 2026, with allotment expected by 5 October 2026 and listing on the stock exchange on 7 October 2026.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While some IPOs may experience a surge in price on their first day of trading, others may not perform as well. Factors such as market conditions, demand for the stock, and overall investor sentiment can significantly impact the listing price.
This evaluation is generated from Black Opal Consultants's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Black Opal Consultants IPO?
The price band of Black Opal Consultants IPO is ₹185.0–₹197.0 per share.
When does Black Opal Consultants IPO open and close?
Black Opal Consultants IPO opens on 29 September 2026 and closes on 01 October 2026.
When does Black Opal Consultants IPO list on the stock exchange?
Black Opal Consultants IPO is scheduled to list on 07 October 2026, with an estimated listing price of ₹197.0 based on current GMP.
What is the lot size for Black Opal Consultants IPO?
The lot size for Black Opal Consultants IPO is 600 shares, requiring a minimum investment of ₹236,400 (2 lots).
What is the TopFund Listing Data Indicator for Black Opal Consultants?
Black Opal Consultants's Listing Data Indicator score is 42/100 (Moderate signal), a weighted composite of GMP strength, subscription demand, anchor investor interest and how similar past IPOs performed on listing. It's a rules-based summary of public market data, not a statistically validated probability, a guarantee, or personalized investment advice.
What is the price band for the IPO?
The price band for the IPO is ₹185.0 to ₹197.0.
What is the minimum investment required?
The minimum investment required is ₹236,400.
What is the lot size for the IPO?
The lot size for the IPO is 600 shares.
When is the IPO expected to list?
The IPO is expected to list on 7 October 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on demand in the unofficial market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
29 Sep 2026
Close
01 Oct 2026
Allotment
05 Oct 2026
Listing
07 Oct 2026
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