Black Opal Consultants (SME IPO)
📅 Dates: 29 Sep - 01 Oct • 💰 Issue Size: 27,96,000 shares (agg. up to ₹55 Cr)Complete guide to Black Opal Consultants SME IPO: latest Grey Market Premium (GMP), live bidding subscription status, price band, lot size, financial report, and investment analysis.
📊 Overview & Key Highlights
| Parameter | Details |
|---|---|
| Issue Type | SME IPO (SME) |
| Issue Dates | 29 Sep - 01 Oct |
| Price Band | ₹185 to ₹197 |
| Total Issue Size | 27,96,000 shares (agg. up to ₹55 Cr) |
| Minimum Market Lot | 600 shares |
| Listing Price (Debut) | ₹200.00 (+₹3.00 (+1.52%) 🚀) |
| Subscription Status | 73.80x (Final / Bidding Closed) |
| Investor Demand Rating | ⭐⭐⭐⭐⭐ (5/5 - Blockbuster Demand) |
📈 Live Subscription Demand
| Category | Subscription Multiplier (x) |
|---|---|
| Qualified Institutional (QIB) | 59.77x |
| Non-Institutional / HNI | 124.29x |
| Retail Individual (RII) | 60.15x |
| Total Subscription | 73.80x (Updated: 07 Oct, 17:39) |
🎯 Investment Analysis & Verdict
📌 Business Model & Revenue Streams
Black Opal Consultants earns brokerage commissions and margin on the sale of residential and commercial projects it markets for developers. It also takes a success fee for arranging buyer‑developer financing and is beginning to capture development margins through its group’s Tier‑II projects.🚀 Key Strengths & Growth Drivers
• Exclusive or semi‑exclusive rights with a roster of large developers give it pricing power and repeat business.• A broker network of over 200 agents plus a digital marketing push (Facebook, Google) expands reach without heavy fixed costs.
• Tier‑II city development offers a higher margin upside as demand shifts from saturated metros.
⚠️ Key Risks & Red Flags
• Revenue is tied closely to a handful of developers; any slowdown or loss of a key partner could hit top‑line sharply.• The brokerage model is cash‑flow sensitive; delayed project closings can create working‑capital strain.
• Expansion into development adds construction risk and may require additional debt, raising leverage concerns for an SME.
🎯 Retail Verdict
The IPO looks like a classic “listing pop” play rather than a long‑term compounder; the business is cash‑flow dependent and client‑concentrated. Retail investors who can tolerate short‑term volatility might consider a small allocation, but a larger, buy‑and‑hold position would be risky without clearer diversification and balance‑sheet strength.📅 Tentative Timetable
| Event | Tentative Date |
|---|---|
| IPO Open | Tue, Sep 29, 2026 |
| IPO Close | Thu, Oct 1, 2026 |
| Allotment | Mon, Oct 5, 2026 |
| Refund | Tue, Oct 6, 2026 |
| Credit of Shares | Tue, Oct 6, 2026 |
| Listing | Wed, Oct 7, 2026 |
💼 Market Lot & Investment Sizing
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 1200 | ₹2,36,400 |
| Individual investors (IND) (Max) | 2 | 1200 | ₹2,36,400 |
| S-HNI (Min) | 3 | 1800 | ₹3,54,600 |
| S-HNI (Max) | 8 | 4800 | ₹9,45,600 |
| B-HNI (Min) | 9 | 5400 | ₹10,63,800 |
💰 Financial Summary
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 343.53 | 224.43 | 131.35 | 65.24 |
| Total Income | 174.92 | 330.43 | 199.05 | 79.73 |
| Profit After Tax | 43.86 | 114.81 | 43.23 | 17.21 |
| EBITDA | 58.61 | 154.69 | 59.40 | 23.88 |
| NET Worth | 247.97 | 204.11 | 89.30 | 46.07 |
| Reserves and Surplus | 239.63 | 195.77 | 80.96 | 37.74 |
| Total Borrowing | 41.81 | 2.03 | 16.01 | 1.18 |
| Amount in ₹ Crore |
🏢 About Black Opal Consultants
Black Opal Consultants operates as a brokerage and advisory firm in Indian real estate, securing exclusive or semi‑exclusive sales rights for residential and commercial projects and earning brokerage commissions or margins. It collaborates with its group entities, notably Aurika Homes Private Limited and Aurika Developers LLP, to market and sell projects, leveraging a network of over 200 brokers and digital channels such as Facebook and Google.The firm also provides loan‑syndication services, earning success fees for arranging financing between developers and buyers, and is expanding into real‑estate development in Tier‑II cities through its group companies. Its client base includes major developers such as Gaurs Group, SKA, Shapoorji Pallonji, Max Estates and M3M, supported by an experienced professional team and a training‑driven broker network.
💬 Community Discussion & Views
Are you planning to apply for the Black Opal Consultants IPO? Share your bidding strategy, allotment status, or listing expectations with fellow investors in the replies below!👉 Browse all upcoming Mainboard & SME IPOs on UNP
Disclaimer: All IPO details provided above are for educational and informational purposes only. Readers are advised to consult their financial advisors and review the Red Herring Prospectus (RHP) before investing.
📌 Thread Quick Navigation: Post #2: Live & Historic GMP | Post #3: Subscription Stats | Post #4: Allotment Status | Post #5: Listing Debut | Post #6: Community & Social Reviews
Last edited: