Black Opal Consultants Limited is a promoter-driven real estate services company engaged in real estate brokerage, property advisory, loan syndication and related services across residential and commercial properties. It primarily focuses on newly constructed and under-construction properties and supports developers and property buyers in transactions.
The Company works with developers through exclusive and semi-exclusive sales mandates, earning brokerage income from property sales. Under its inventory underwriting model, it provides advances to developers to secure inventory. It has worked with 25+ developers, sold 2,300+ units and has a network of 200+ broker associates across Delhi-NCR.
Service Offerings:
- Real Estate Brokerage: Brokerage from exclusive and semi-exclusive sales mandates.
- Property Advisory: Product positioning, pricing, market research and inventory structuring.
- Loan Syndication: Financing assistance for developers and buyers.
- Real Estate Development: Development activities through Group Entities in Tier-II cities.
The Company also works with Group Entities such as Aurika Homes Private Limited and Aurika Projects LLP to market and sell their project inventories.
Black Opal has expanded into real estate development through Aurika Developers LLP and Black Opal Ventures LLP. Aurika Developers is developing “Veda”, a commercial and hospitality project in Ayodhya, while Black Opal Ventures is developing the “Hummingbird” residential project in Ghaziabad.
Black Opal Consultants IPO – Details
| IPO Opening Date | 29 September 2026 |
| IPO Closing Date | 01 October 2026 |
| Issue Type | Book Building IPO |
| Issue Size | Total Issue: 27,96,000 Shares Worth ₹55.08 Crore Fresh Issue: 22,38,000 Shares Worth ₹44.09 Crore Offer For Sale: 5,58,000 Shares Worth ₹10.99 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹185 – ₹197 per share |
| Market Lot | 600 Shares |
| Min Order | 600 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | Skyline Financial Services Pvt. Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Black Opal Consultants IPO – Date Schedule
| IPO Open Date | 29 September 2026 |
| IPO Close Date | 01 October 2026 |
| Basis of Allotment | 05 October 2026 |
| Initiation of Refund | 06 October 2026 |
| Credit of Shares to Demat | 06 October 2026 |
| IPO Listing Date | 07 October 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 01, 2026 |
Black Opal Consultants IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1200 | ₹2,36,400 |
| Retail (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 |
Competitive Strength
- 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 Promoters
- Prasoon Chauhan
- Sheikh Arfeen Ahmed
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹19.91 Cr | ₹14.10 Cr | ₹4.32 Cr | ₹1.60 Cr |
| 31 March 2025 | ₹33.04 Cr | ₹17.67 Cr | ₹11.48 Cr | ₹0.20 Cr |
| 31 March 2026 | ₹42.34 Cr | ₹25.85 Cr | ₹12.20 Cr | ₹9.52 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 46.03% |
| ROCE | 40.12% |
| Debt/Equity | 0.29 |
| RoNW | 37.40% |
| PAT Margin | 29.11% |
| EBITDA Margin | 40.62% |
| NAV | 39.17 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 14.63 | 11.54 |
| P/E (x) | 13.47 | 17.07 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding for securing Sales/Marketing mandates. | ₹7.00 |
| Investment in Aurika Developers LLP, one of Group Entity, for financing the development of its Ayodhya Project. | ₹26.00 |
| General Corporate Purposes. |
✅Strengths
- Strong Developer Network with 25+ developers.
- Proven Track Record with 2,300+ units sold.
- Exclusive Mandates provide dedicated project inventory.
- Experienced Promoters with 25+ years of experience.
- Diversified Services across brokerage, underwriting and loan syndication.
⚠️Risks
- Customer Concentration with revenue dependent on key customers.
- Geographical Concentration mainly in Delhi-NCR.
- Brokerage Dependence on property sales.
- Unsold Inventory Risk may affect cash flows.
- Execution Risk from real estate development activities.
Black Opal Consultants IPO Promoter Holding
| Pre-Issue Share Holding | 98.60% |
| Post Issue Share Holding | 72.46% |
Black Opal Consultants IPO Prospectus
Company Contact Information
| Black Opal Consultants Limited Shop No. 8, Ground Floor, C.S.C. AGCR Enclave, Delhi, New Delhi, 110092 Phone: +91 9999560810 Email: investors@blackopalgroup.in Website: https://www.blackopalgroup.in/ |
Black Opal Consultants IPO Registrar
| Skyline Financial Services Pvt. Ltd. Phone: 011-26812682 Email: ipo@skylinerta.com Website: https://www.skylinerta.com/ipo.php |
Black Opal Consultants IPO Lead Manager(s)
| 1. Khambatta Securities Ltd. |
Black Opal Consultants IPO FAQ
| What is the Black Opal Consultants IPO? Black Opal Consultants IPO is an SME IPO. The issue is priced at ₹185 – ₹197 per equity share. The IPO is to be listed on BSE SME. |
| When will Black Opal Consultants IPO open? The IPO is to open on 29 September 2026 for QIB, NII and Retail Investors. |
| What is Black Opal Consultants IPO Investors’ Portion? The Investors portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Black Opal Consultants IPO Size? Black Opal Consultants IPO size is ₹55.08 Crore. |
| What are the Black Opal Consultants IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 1200 Shares for ₹2,36,400, while the maximum bid is 1200 Shares for ₹2,36,400. |
| What is the Black Opal Consultants IPO Allotment Date? Black Opal Consultants IPO allotment date is 05 October 2026. |
| What is the Black Opal Consultants IPO Listing Date? Black Opal Consultants IPO listing date is 07 October 2026. The IPO is to be listed on the BSE SME. |
