- POSITIVE
Annual Revenue Black Opal Consultants Mar-2026 Annual Revenue is Rs 42 Cr which is growth of 8.5% YoY.
- POSITIVE
Annual Net Profit Black Opal Consultants Mar-2026 Annual Net Profit is Rs 12 Cr which is growth of 7.0% YoY.
Black Opal Consultants Ltd. IPO Details
Black Opal Consultants was incorporated on September 06, 2020. The company facilitates the sale of residential and commercial properties for reputed developers on a brokerage basis, with a focus on luxury properties. It has partnered with developers such as Gaurs Group, SKA, Galaxy, Shapoorji Pallonji, Max Estates and M3M, and has sold over 2,000 units
| Bidding Dates |
|---|
| 29 Sep 2026 - 01 Oct 2026 |
| Subscription |
|---|
| 68.71x Oversubscribed |
| Check Allotment Status |
|---|
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹222,000 | 2 | 2 | 600 | 2.8 M | ₹185 - ₹197 | 72.46 % | ₹517.3 M - ₹550.8 M | RHP DOC |
Black Opal Consultants IPO SUBSCRIPTION STATUS
01 Oct '26Total68.71x
Retail Individual Investor60.15x
HNI (NII) Investors92.3x
Qualified Institutional Buyers59.77x
Black Opal Consultants IPO overall subscription rate was 68.71 times the total available shares
Black Opal Consultants IPO retail subscription rate was 60.15 times in the retail segment
Black Opal Consultants IPO non-institutional investor subscription rate was 92.3 times in the non-institutional investor category
Black Opal Consultants IPO Qualified Institutional Bidder subscription rate was 59.77 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
01 Oct 2026 (Day 3) | 60.15x | 92.3x | 59.77x |
30 Sep 2026 (Day 2) | 1.61x | 1.02x | 0.77x |
29 Sep 2026 (Day 1) | 0.39x | 0.13x | 0.48x |
Black Opal Consultants FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 42.0 | 12.2 | 15.8 | 15.7 | 40.6% |
| FY25 | 32.9 | 11.5 | -0.7 | -0.7 | 47.6% |
| FY24 | 19.8 | 4.3 | 5.6 | 5.7 | 30.8% |
Black Opal Consultants IPO SUBSCRIPTION STATUS DETAILS
Black Opal Consultants has 2.8 M shares on offer
Black Opal Consultants IPO offer price is in the range ₹185 - ₹197
Black Opal Consultants IPO minimum Investment is ₹222000
Black Opal Consultants IPO issue size is ₹ 517.3 M - ₹ 550.8 M
Black Opal Consultants has a minimum lot size of 600 Shares per application
Black Opal Consultants NUMBER OF SHARES ON OFFER
Total2.8 M
Fresh Issue2.2 M
Offer for Sale558.0 K
Post Issue Promoter Holding %72.46 %
Black Opal Consultants IPO IMPORTANT DATES
| Issue Open Date | 29 Sep 2026 |
| Issue close Date | 01 Oct 2026 |
| Allotment Date | 05 Oct 2026 |
| Refund Date | 06 Oct 2026 |
| Demat Account Credit Date | 06 Oct 2026 |
| Listing Date | 07 Oct 2026 |
| Listing on Exchange(s) | BSE |
| Black Opal Consultants Allotment Status | Exchange/ Registrar |
Black Opal Consultants IPO subscription opens on 29 Sep 2026, and closes on 01 Oct 2026
IPO allotment for Black Opal Consultants is expected to be finalized on Monday, 05 Oct 2026
IPO listing for Black Opal Consultants will be on BSE on Wednesday, 07 Oct 2026
Black Opal Consultants Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Black Opal Consultants Ltd. | 197 | 208.4 | 17.1 | 2.7 | 4.9 | 37.4 | 20.5 | 42.3 | 28.1 | 12.2 | 6.4 | 11.5 | 6.4 |
| DLF Ltd. | 658.4 | 162974.5 | 36.7 | -42.4 | 24.1 | 9.7 | 5.9 | 9816 | 9.1 | 4414.7 | 1.1 | 18 | -0.9 |
| Lodha Developers Ltd. | 1105.6 | 110492.1 | 26.8 | 0.7 | 6.1 | 14.7 | 5.8 | 17119.5 | 20.8 | 3428.2 | 24 | 41.3 | 39.2 |
| Phoenix Mills Ltd. | 1930 | 69031.8 | 53.9 | 1.9 | 15.2 | 11.1 | 5.4 | 4593.6 | 15.9 | 1223.8 | 24.3 | 35.8 | 29 |
| Prestige Estates Projects Ltd. | 1486.1 | 64010.8 | 56.2 | 0.5 | 4.9 | 7.3 | 1.6 | 13195.5 | 70.6 | 1195.5 | 155.7 | 26.4 | 115.9 |
| Oberoi Realty Ltd. | 1754.6 | 63797.6 | 24.3 | 0.9 | 10.1 | 14 | 9.9 | 6304.3 | 15.2 | 2507.4 | 12.7 | 72.3 | 27.5 |
Quarterly
Annual
Balance Sheet
Ratios
Cash Flow
Black Opal Consultants annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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| Indicator | Graph | Mar '26 | Mar '25 | Mar '24 |
|---|---|---|---|---|
| 42.3 | 39 | 23.5 | ||
Operating Exp. Ann. | 25.2 | 23.4 | 17.5 | |
Operating Profit Ann. | 16.7 | 15.4 | 5.8 | |
OPM Ann. % | 39.60% | 39.55% | 24.81% | |
| 25.7 | 23.5 | 17.7 | ||
EBITDA Ann. | 17.1 | 15.6 | 6 | |
EBITDA Ann. margin % | 40.42% | 39.99% | 25.45% | |
Interest Ann. | 0.4 | 0.1 | 0.1 | |
Depr. | 0.1 | 0.1 | 0.1 | |
PBT Ann. | 16.6 | 15.4 | 5.8 | |
Tax Ann. | 4.3 | 3.9 | 1.5 | |
| 12.3 | 11.5 | 4.3 | ||
Net Profit Ann. | 12.3 | 11.5 | 4.3 | |
NPM Ann. % | 29.36% | 29.67% | 18.53% | |
EPS Adj. latest Ann. | 11.6 | 10.9 | 4.1 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
8.5%
2Y CAGR
34.2%
Net Profit Ann.
1Y CHG
7%
2Y CAGR
69.1%
Operating Exp. Ann.
1Y CHG
7.7%
2Y CAGR
20%
Black Opal Consultants INFORMATION ON IPO ISSUE
About Black Opal Consultants
Black Opal Consultants was incorporated on September 06, 2020. The company facilitates the sale of residential and commercial properties for reputed developers on a brokerage basis, with a focus on luxury properties. It has partnered with developers such as Gaurs Group, SKA, Galaxy, Shapoorji Pallonji, Max Estates and M3M, and has sold over 2,000 units
Object of the Issue
- Funding for securing sales/marketing mandates
- Investment in Aurika Developers LLP, one of its group entity, for financing the development of its Ayodhya project
- General corporate purposes
Black Opal Consultants - PROMOTERS
| Name |
|---|
| Prasoon Chauhan |
| Sheikh Arfeen Ahmed |
Black Opal Consultants - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Prasoon Chauhan | Managing Director |
| Sheikh Arfeen Ahmed | Non- Executive Director |
| Sandeep Kumar Singh | Non- Executive Director |
| Sangeeta Bhatia | Independent Director |
| Pradeep Pasari | Independent Director |
Black Opal Consultants Book Running Lead Manager
Khambatta Securities Limited
ipo@khambattasecurities.com
Black Opal Consultants Registrar to the Offer
Skyline Financial Services Private Limited
ipo@skylinerta.com
Black Opal Consultants Strengths
Project pipeline & pricing power
The company aims to secure a steady pipeline of premium projects through exclusive mandates, inventory underwriting and strategic developer partnerships. This approach is expected to strengthen project control and pricing power while expanding its presence in the luxury residential and commercial real estate segments
Strength
Scalable channel partner network
The company aims to expand its market reach by onboarding and upskilling channel partners and brokers, while providing CRM tools and faster brokerage payouts. This strategy supports greater operational efficiency and scalability while maintaining a lean cost structure
Strength
Premium housing demand
India’s luxury real estate brokerage market has grown rapidly, driven by rising incomes, HNWIs and NRI demand, and is projected to reach Rs 18,516 crore by FY30. The company’s focus on premium properties positions it to benefit from increasing demand for luxury housing and the expanding affluent customer base
Strength
Black Opal Consultants Risks
Operational risks
The company derives a significant portion of its revenue from real estate brokerage and advisory services, making its performance dependent on property demand, market conditions and client preferences. Fluctuations in property prices, transaction delays, client defaults and competition from brokers and online platforms could adversely affect its revenue, margins and market share
Risk
Depend on real estate segment
The company is significantly dependent on the residential real estate segment, with limited exposure to commercial properties, resulting in limited revenue diversification. A slowdown in residential sales, policy changes, project delays, interest rate fluctuations or adverse economic conditions could adversely affect its revenue, profitability and business stability
Risk
Licenses & approvals
The company’s real estate consultancy and development activities depend on various statutory approvals, licences and permits, including RERA, environmental, land-use and local authority approvals. Delays, non-renewal, cancellation or changes in regulatory requirements could disrupt operations, increase compliance costs and adversely affect business performance
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 11.0 crore, of 558,000 shares. It also consists of a fresh issue of Rs 44.1 crore.
The promoters of the company are Prasoon Chauhan and Sheikh Arfeen Ahmed.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 185.0 - 197.0.
The IPO application opens on Sep 29, 2026 and closes on Oct 01, 2026.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 222,000.0, the maximum value for this IPO is Rs 236,400.0.
This IPO will be allotted on Oct 05, 2026.
The refund will be credited to your account on Oct 06, 2026.
The allotted shares will be credited to your demat on Oct 06, 2026.
Black Opal Consultants Ltd.’s shares will list on the stock exchanges on Oct 07, 2026.