About Black Opal Consultants
Black Opal Consultants Limited is launching its SME Initial Public Offering (IPO) on September 29, 2026. Incorporated in 2020, Black Opal Consultants operates as a real estate services and advisory company, specializing in marketing and selling residential and commercial projects for major developers such as Gaurs Group, SKA, Max Estates, and M3M.
1. Key Dates & IPO Timetable
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IPO Open Date: September 29, 2026
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IPO Close Date: October 1, 2026
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Basis of Allotment: October 5, 2026
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Initiation of Refunds: October 6, 2026
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Credit of Shares to Demat: October 6, 2026
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Listing Date: October 7, 2026 (BSE SME)
2. Issue Details, Price Band, and Lot Size
The total issue size is ₹55.08 crores (27.96 lakh shares), consisting of a fresh issue of ₹44.09 crores (22.38 lakh shares) and an Offer for Sale (OFS) of ₹10.99 crores (5.58 lakh shares).
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Price Band: ₹185 to ₹197 per equity share
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Face Value: ₹10 per share
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Base Lot Size: 600 shares
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Listing Exchange: BSE SME
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Reservation: QIB – 50%, Retail – 35%, NII/HNI – 15%
Application Requirements:
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Retail Investors (Min & Max – 2 Lots): 1,200 shares amounting to ₹2,36,400 (at the upper price band of ₹197).
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Small HNI (sNII – Min 3 Lots): 1,800 shares amounting to ₹3,54,600.
3. Financial Performance & Utilization of Funds
Financial Overview
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ROE / RONW: 56.25%
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ROCE: 75.05%
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PAT Margin: 34.94%
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EBITDA Margin: 47.07%
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Debt to Equity Ratio: 0.01
Objects of the Issue
The net proceeds from the fresh issue will be deployed for:
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Funding for securing sales and marketing mandates (~₹7.00 crore).
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Investment in group entity Aurika Developers LLP to finance its Ayodhya real estate development project (~₹25.00 crore).
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General corporate purposes.
4. Grey Market Premium (GMP)
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Current GMP: ₹0 per share
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Estimated Listing Price: ₹197 (at upper band)
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Estimated Listing Gain: 0.00%
Note: Grey Market Premium is an informal indicator and can fluctuate dynamically based on market demand during the subscription window.