Black Opal Consultants IPO GMP today is Rs 3. Investors can use this GMP along with price band and subscription status for a better IPO review.
Listed
SME IPO
BLACKOPAL
Black Opal Consultants IPO GMP, Subscription & Allotment Status Today
Black Opal Consultants operates as a financial and real estate consultancy firm providing integrated real estate solutions. The company generates revenue primarily through brokerage income from selling residential and commercial properties under exclusive sales mandates with real estate developers. Additionally, it earns revenue from loan syndication fees, advisory services, and real estate project development activities. Its core business activities include acting as a channel partner for property sales, offering real estate advisory, and facilitating property financing. The company’s operations are geographically concentrated in Uttar Pradesh and Haryana, specifically in Noida, Greater Noida, and Gurugram. It is also diversifying into real estate development, including a commercial hotel project named Veda in Ayodhya through its subsidiary entity, Aurika Developers. Furthermore, the company engages in inventory underwriting for real estate developers and is developing a digital property platform called JustHomz through its wholly owned subsidiary, Black Opal Technologies.
- Price Band
- ₹185.00 - ₹197.00
- Lot Size
- 600 Shares
- Bidding Closes
- 01 Oct 2026
- Listing Date
- 07 Oct 2026
Current GMP Status
₹3
+1.52% vs upper band
Est. Listing Gain
+1.52%
Last Trend
07 Oct 2026
Listing Price
₹200.00
Retail Entry
₹2,36,400
IPO Details
Complete IPO information
| Current GMP | ₹3 |
|---|---|
| Estimated Listing Gain | +1.52% |
| Price Band | ₹185.00 - ₹197.00 |
| Issue Price | Approx ₹55.08 Crores |
| Listing Price | ₹200.00 |
| Lot Size | 600 Shares |
| Issue Type | SME |
| Registrar | Skyline Financial Services Pvt. Ltd. |
| Exchange | BSE SME |
| Retail Quota | TBA |
| Overall Subscription | 68.71x |
| Listing Date | 07 Oct 2026 |
| Minimum Investment | ₹2,36,400 |
Demand Tracker
Subscription Status
| Category | Shares Reserved | Shares Applied | Subscription (x) |
|---|---|---|---|
| QIB | 5.31 | 317.38 | 59.77x |
| NII | 5.39 | 497.30 | 92.30x |
| Retail | 9.30 | 559.43 | 60.15x |
| Overall Subscription | 19.99 | 1374.11 | 68.71x |
Day-wise demand
Black Opal Consultants IPO subscription status day-wise
| Day | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Day 3 (01 Oct) | 0.77x | 1.02x | 1.61x | 1.23x |
Subscription in times (x) at the end of each bidding day. Today's row updates through the day.
Company data
{Black Opal Consultants}: financials, valuation & listing
Listing details
| Listing date | 07 Oct 2026 |
|---|---|
| BSE code | 544972 |
| ISIN | INE0M3101012 |
| Offer price | ₹185 – ₹197 |
| Face value | ₹10 |
| Listing price | ₹200 |
Valuation
| Return on equity (ROE) | 46.03% |
|---|---|
| Return on capital employed (ROCE) | 40.12% |
| EBITDA margin | 40.62% |
| PAT margin | 29.11% |
| Debt to equity | 0.29 |
| EPS | 14.65 (Basic) |
| P/E ratio | N/A |
| Return on net worth | 37.40% |
| NAV per share | 39.17 |
Financial history
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 19.91 Cr. | 14.10 Cr. | 4.32 Cr. | 13.14 Cr. |
| 2025 | 33.04 Cr. | 17.67 Cr. | 11.48 Cr. | 22.44 Cr. |
| 2026 | 42.34 Cr. | 25.85 Cr. | 12.20 Cr. | 59.62 Cr. |
Peer comparison
| Company | Income | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|---|
| Homesfy Realty Limited | 41.97 Cr. | (63.50) | NA | (68.98)% | 92.06 |
Use of proceeds
| Purpose | Amount (₹ crore) |
|---|---|
| Funding for securing sales and marketing mandates | 7 (15.88%) |
| Investment in Aurika Developers LLP for Ayodhya project development | 26 (58.97%) |
| General Corporate Purposes | 11.09 (25.15%) |
Key dates
| UPI mandate deadline | 01 Oct 2026 |
|---|---|
| Allotment finalised | 05 Oct 2026 |
| Refund initiation | 06 Oct 2026 |
| Shares credited | 06 Oct 2026 |
| Mandate end date | 16 Oct 2026 |
| Anchor lock-in ends (50%) | 03 Nov 2026 |
| Anchor lock-in ends (remaining) | 02 Jan 2027 |
Grey Market Premium (GMP) data is entirely unofficial and speculative, and is influenced by market sentiment, demand and supply for IPO shares, and market rumors. While GMP can provide an indication of the expected IPO listing price, it may not always be accurate and does not guarantee the actual listing price.
Head-to-head
Compare Black Opal Consultants IPO with similar IPOs
Analysis
IPO Snapshot & Investor Takeaways
At the upper end of its price band, Black Opal Consultants is priced at ₹197 per share. With a minimum lot size of 600 shares, a retail investor applying for one lot would need approximately ₹2,36,400 to participate in this SME issue.
The latest recorded Grey Market Premium for Black Opal Consultants stands at ₹3, implying an estimated listing gain of around 1.52% over the issue price if it holds until listing. This is down ₹79 from its previously recorded level. GMP reflects informal grey-market sentiment rather than a guaranteed outcome, and can change at any point until the day of listing.
As of the latest update, Black Opal Consultants's IPO was subscribed 68.71x overall, with a category-wise breakdown of Retail 60.15x, QIB 59.77x, NII 92.3x.
SME IPOs list on the dedicated SME platform of BSE/NSE. They usually involve smaller issue sizes and a higher per-lot investment than Mainboard issues, with comparatively lower institutional participation.
Timeline
IPO roadmap at a glance
✓
Bidding Opens
29 Sept 2026
✓
Bidding Closes
01 Oct 2026
✓
Allotment
05 Oct 2026
✓
Listing
07 Oct 2026
Grey Market Premium
Daily GMP status
| Date | GMP | Change | Gain |
|---|---|---|---|
| 07 Oct 2026 | ₹9.00 | -₹79.00 | 4.57% |
| 06 Oct 2026 | ₹88.00 | -₹12.00 | 44.67% |
| 05 Oct 2026 | ₹100.00 | +₹22.00 | 50.76% |
| 03 Oct 2026 | ₹78.00 | +₹12.00 | 39.59% |
| 02 Oct 2026 | ₹66.00 | +₹18.00 | 33.50% |
| 01 Oct 2026 | ₹48.00 | +₹10.00 | 24.37% |
| 30 Sept 2026 | ₹38.00 | - | 19.29% |
Swipe to see more →
Market Lot
Application size breakdown
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 Lot | 1,200 | ₹2,36,400 |
| Retail Maximum | 2 Lot | 1,200 | ₹2,36,400 |
| S-HNI Minimum | 3 Lot | 1,800 | ₹3,54,600 |
| S-HNI Maximum | 8 Lot | 4,800 | ₹9,45,600 |
| B-HNI Minimum | 9 Lot | 5,400 | ₹10,63,800 |
Swipe to see more →
Fund Utilization
Objects of the Issue & Official Documents
Analysis
Black Opal Consultants IPO Details
Black Opal Consultants IPO is a book building issue with an issue size of Approx ₹55.08 Crores. The IPO comprises a fresh issue of Approx ₹44.09 Crores and is proposed to be listed on the BSE SME. The IPO price band is set at ₹185 – ₹197 per equity share.
| Particular | Details |
|---|---|
| IPO Open Date | 29 Sept 2026 |
| IPO Close Date | 01 Oct 2026 |
| IPO Price Band | ₹185 – ₹197 |
| Issue Size | Approx ₹55.08 Crores |
| Fresh Issue | Approx ₹44.09 Crores |
| Issue Type | SME |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |
Note: The above Black Opal Consultants IPO details are based on the information provided for the issue.
Analysis
Black Opal Consultants IPO Reservation
The Black Opal Consultants IPO reservation details show the allocation of shares across anchor investors, qualified institutional buyers, non- institutional investors, and retail investors.
| Investor Category | Share Offered | -% Shares |
|---|---|---|
| Anchor Investor | 7,96,800 Shares | 28.50% |
| QIB (Ex. Anchor) | 5,31,000 Shares | 18.99% |
| NII Shares Offered | 3,98,400 Shares | 15% |
| Retail Shares Offered | 9,30,000 Shares | 35% |
Note: The reservation figures are based on the share allocation details provided for the Black Opal Consultants IPO.
Analysis
Black Opal Consultants IPO Anchor Investors
The Black Opal Consultants IPO anchor investor allocation provides details of the anchor bidding date, shares reserved for anchor investors, total anchor allocation size, and the applicable lock-in periods.
| Particular | Details |
|---|---|
| Anchor Bidding Date | September 28, 2026 |
| Shares Offered | 7,96,800 Shares |
| Anchor Size | ₹15.69 Cr. |
| Lock-in Period End Date – 50% Shares (30 Days) | November 4, 2026 |
| Lock-in Period End Date – 50% Shares (90 Days) | January 3, 2027 |
Note: The anchor investor details are based on the allocation information provided for the Black Opal Consultants IPO.
Analysis
Black Opal Consultants IPO Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 29 Sept 2026 |
| IPO Close Date | 01 Oct 2026 |
| Basis of Allotment | 05 Oct 2026 |
| Refunds | 06 Oct 2026 |
| Credit to Demat Account | 06 Oct 2026 |
| IPO Listing Date | 07 Oct 2026 |
Note: The timeline for Black Opal Consultants IPO is tentative and subject to change.
Analysis
Black Opal Consultants Promoters and Holding Pattern
The promoters of Black Opal Consultants are Prasoon Chauhan and Sheikh Arfeen Ahmed. The holding pattern below shows the shareholding of the promoter and promoter group before and after the IPO, along with the corresponding ownership percentages.
Promoters
The promoters of the company are Prasoon Chauhan and Sheikh Arfeen Ahmed.
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 82,22,410 | 98.6% | 7,664,410 | 72.46% |
| Others* | 1,16,780 | 1.40% | 2,912,780 | 27.54% |
| Total | 83,39,190 | 100% | 1,05,77,190 | 100% |
Note: The holding pattern is based on the shareholding figures provided for the Black Opal Consultants IPO.
Analysis
Black Opal Consultants Objects of the Issue & Utilisation of Proceeds
| Purpose | Crores |
|---|---|
| Funding for securing sales and marketing mandates | 7 (15.88%) |
| Investment in Aurika Developers LLP for Ayodhya project development | 26 (58.97%) |
| General Corporate Purposes | 11.09 (25.15%) |
Note: Objectives are as specified in the DRHP/RHP documents of Black Opal Consultants.
Analysis
Black Opal Consultants About Ipo
Black Opal Consultants, founded in 2020, is one of the leading real estate companies that partners with real estate developers such as Gaurs Group, SKA, Galaxy, Shapoorji Pallonji, Max Estates, and M3M to market and sell their residential and commercial projects. Its service offerings include Consulting & Advisory Services, Exclusive Sale Arrangements, Loan Syndication Services, and Real Estate Development.
Black Opal gets permission from the developer to market and sell certain apartments or residences with exclusive and semi-exclusive rights, and in return it receives brokerage/commission from the developer. The firm has a network of 200 brokers and also uses platforms like Facebook and Google for marketing projects. The firm mainly sells residential and commercial properties that are either newly launched or still under construction.
Analysis
Black Opal Consultants Company Financials
| Period | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 19.91 Cr. | 14.10 Cr. | 4.32 Cr. | 13.14 Cr. |
| 2025 | 33.04 Cr. | 17.67 Cr. | 11.48 Cr. | 22.44 Cr. |
| 2026 | 42.34 Cr. | 25.85 Cr. | 12.20 Cr. | 59.62 Cr. |
Note: Financial numbers for Black Opal Consultants are in ₹ Crores unless stated otherwise.
Analysis
Black Opal Consultants Company Valuation – FY2026
| KPI | Values |
|---|---|
| ROE | 46.03% |
| ROCE | 40.12% |
| EBITDA Margin | 40.62% |
| PAT Margin | 29.11% |
| Debt to Equity Ratio | 0.29 |
| Earning Per Share (EPS) | 14.65 (Basic) |
| Price/Earning P/E Ratio | - |
| Return on Net Worth (RoNW) | 37.40% |
| Net Asset Value (NAV) | 39.17 |
Note: Valuation KPIs for Black Opal Consultants are computed for FY2026.
Analysis
Black Opal Consultants IPO Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Homesfy Realty Limited | (63.50) | NA | (68.98)% | 92.06 | 41.97 Cr. |
Note: Peer group comparisons for Black Opal Consultants are sourced from DRHP filings.
Analysis
Black Opal Consultants IPO Lead Managers aka Merchant Bankers
- Khambatta Securities Ltd.
FAQ
Black Opal Consultants IPO FAQs
Black Opal Consultants IPO price band is Rs 185.00 to Rs 197.00. Check the latest issue price, lot size and GMP together before applying.
Black Opal Consultants IPO open date is 29 Sept 2026, close date is 01 Oct 2026, and listing date is 07 Oct 2026.
Black Opal Consultants IPO lot size is 600 shares. The minimum retail investment is Rs 2,36,400.
Black Opal Consultants is classified as a SME IPO. This helps investors quickly understand the issue category and exchange segment.
Black Opal Consultants IPO subscription status currently shows Retail 60.15x, QIB 59.77x, NII 92.3x, Overall 68.71x.
Black Opal Consultants operates as a financial and real estate consultancy firm providing integrated real estate solutions. The company generates revenue primarily through brokerage income from selling residential and commercial properties under exclusive sales mandates with real estate developers. Additionally, it earns revenue from loan syndication fees, advisory services, and real estate project development activities. Its core business activities include acting as a channel partner for property sales, offering real estate advisory, and facilitating property financing. The company’s operations are geographically concentrated in Uttar Pradesh and Haryana, specifically in Noida, Greater Noida, and Gurugram. It is also diversifying into real estate development, including a commercial hotel project named Veda in Ayodhya through its subsidiary entity, Aurika Developers. Furthermore, the company engages in inventory underwriting for real estate developers and is developing a digital property platform called JustHomz through its wholly owned subsidiary, Black Opal Technologies.
Black Opal Consultants IPO issue size is TBA and the expected allotment date is 05 Oct 2026.
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