Bookbuilding IPO | ₹[.] Cr | Listing at BSE SME |
Black Opal Consultants Ltd. has filed a Draft Red Herring Prospectus (DRHP) with the exchange on November 15, 2025 to raise funds through Initial Public Offer (IPO).
Black Opal Consultants Ltd. IPO is a Book Build Issue of 0.28 crore equity shares consisting of a fresh issue of upto 0.22 crore equity shares and an offer for sale (OFS) of upto 0.06 crore equity shares.
The equity shares are proposed to be listed on the BSE SME. Khambatta Securities Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. Key details like IPO dates, IPO price bands and lot size are yet to be announced.
Refer to Black Opal Consultants IPO DRHP for more details.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 27,96,000 shares (agg. up to ₹[.] Cr) |
| Reserved for Market Maker | 1,40,000 shares (agg. up to ₹[.] Cr) |
| Fresh Issue (Ex Market Maker) | 20,98,000 shares (agg. up to ₹[.] Cr) |
| Offer for Sale | 5,58,000 shares of ₹10 (agg. up to ₹[.] Cr) |
| Net Offered to Public | 26,56,000 shares (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 83,39,190 shares |
| Share Holding Post Issue | 1,05,77,190 shares |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Sat, Nov 15, 2025 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
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:
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
Black Opal Consultants Ltd.'s revenue increased by 66% and profit after tax (PAT) rose by 166% between the financial year ending with March 31, 2025 and March 31, 2024.
| 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 | ||||
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 our Group Entity, for financing the development of its Ayodhya Project | 25.00 |
| 3 | General corporate purposes |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 56.25% |
| ROCE | 75.05% |
| Debt/Equity | 0.01 |
| RoNW | 56.25% |
| PAT Margin | 34.94% |
| EBITDA Margin | 47.07% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 98.60% | 72.46% |
Lead Manager Reports
Black Opal Consultants IPO is a SME IPO of 27,96,000 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Black Opal Consultants IPO open and close dates are not available as of now.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Black Opal Consultants IPO using UPI as a payment gateway. Zerodha customers can apply in Black Opal Consultants IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Black Opal Consultants IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Black Opal Consultants IPO dates are not announced. Please check back again after some time.
Black Opal Consultants IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Black Opal Consultants IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Black Opal Consultants IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Black Opal Consultants IPO allotment status.
The Black Opal Consultants IPO listing date is not yet announced. The tentative date of listing is .
