BLACK OPAL CONSULTANTS LIMITED
SMEBSE
Issue details
Price band
₹185 - ₹197
Lot size
600 shares
Issue size
₹55 Cr
Min. investment
₹1,18,200
Registrar
Skyline Financial Services
Subscription
68.71x · 59,512 applications
Grey market premium
Est. gain+₹9 · 5%
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IPO Timeline
Open
29 Sep
Close
1 Oct
Allotment
2 Oct
Listing
7 Oct
- Refunds & demat credit
- 3 Oct 2026
- Mandate end
- 16 Oct 2026
We calculate these dates from the allotment and close dates, so please treat them as indicative.
Application size
| Category | Minimum | Maximum |
|---|---|---|
| Retail | 600shares 1 lot · ₹1,18,200 | 600shares 1 lot · ₹1,18,200 |
| HNI | 1,200shares 2 lots · ₹2,36,400 | No limit funds permitting |
Based on the upper price band of ₹197 and a lot of 600 shares.
Subscription
| Quota | Shares offered | Shares bid | Applications | Subscribed |
|---|---|---|---|---|
| NII | 5,38,800 | 4,97,29,800 | 12,847 | 92.30x |
| Retail (IND) | 9,30,000 | 5,59,42,800 | 46,619 | 60.15x |
| Total | 19,99,800 | 13,74,10,800 | 59,512 | 68.71x |
Last updated 41 days ago.
Issue structure
Face value
₹10 per share
Issue type
Bookbuilding IPO
Sale type
Fresh capital cum OFS
Fresh issue
₹41 Cr
20,98,200 shares
Offer for sale
₹11 Cr
5,58,000 shares
Shares pre-issue
83,39,190
Shares post-issue
1,05,77,190
Valuation & ratios
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| EPS | 14.63 | 11.54 |
| P/E | 13.47 | 17.07 |
| Market cap | ₹164.28 Cr. | ₹208.37 Cr |
| 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% |
| NAV | 244.76 |
| Price to Book Value | 0.80 |
Financials
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total income | 42.34 | 33.04 | 19.91 |
| Profit after tax | 12.2 | 11.48 | 4.32 |
| EBITDA | 17.05 | 15.65 | 6.09 |
| Net worth | 32.67 | 20.41 | 8.93 |
| Assets | 59.62 | 22.44 | 13.14 |
| Reserves & surplus | 243.26 | 195.77 | 80.96 |
| Total borrowing | 9.52 | 0.2 | 1.6 |
Figures in ₹ crore, as reported by the company in its offer document.
Objects of the issue
- 1.Funding for securing Sales/Marketing mandates₹7 Cr
- 2.Investment in Aurika Developers LLP, one of Group Entity, for financing the development of its Ayodhya Project₹26 Cr
- 3.General Corporate Purposes—
What the company says it intends to do with the money raised.
Recent comparable IPOs
| Company | Issue price | P/E | Listing close | Listing gain |
|---|---|---|---|---|
| Veegaland Developers Ltd.Mainboard | ₹140 | 17.74 | ₹146.30 | +4.50% |
| Pranav Constructions Ltd.Mainboard | ₹124 | 15.16 | ₹132.00 | +6.45% |
| Horizon Industrial Parks Ltd.Mainboard | ₹60 | -72.29 | ₹58.16 | -3.07% |
Past listing performance of comparable issues. This is not a forecast: listing gains vary widely and can turn negative.
Issue fundamentals compiled from the company's offer document via Chittorgarh, last read 27 Sep 2026. Always verify against the RHP before applying.