Black Opal Consultants Ltd

BLACKOPAL Black Opal Consultants Ltd

BSE IPO

Bidding dates29 Sep 2026 - 01 Oct 2026

Price range₹185 - ₹197

Min. investment₹2,36,400

Issue size55.08 Cr

Lot size600 Shares

IPO Timeline

Start date

29 Sep 2026

End date

01 Oct 2026

Allotment date

05 Oct 2026

Refund initiation

06 Oct 2026

Share credit

06 Oct 2026

Deactivate mandate

07 Oct 2026

About company

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.

Service Offerings:

Consulting & Advisory Services

Exclusive Sale Arrangements: Commission or margin on the sale of underwritten/exclusively mandated inventorie

Loan Syndication Services: Commissions or success fees for arranging developer and buyer financing.

Real Estate Development through group entities operating in Tier -II cities in India

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 a network of more than 200 brokers, which helps expand its reach. It also uses platforms like Facebook and Google for marketing.

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.

Founded in 2020

Managing director Prasoon Chauhan

Parent organisation Black Opal Consultants IPO

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Strengths and Risks

Strengths

The company specializes in marketing luxury residential and commercial properties. It has built partnerships with prominent real estate developers (such as Gaurs Group, M3M, Max Estates, and Shapoorji Pallonji) and operates alongside a vast network of over 200 broker associates.

Black Opal Consultants has posted sharp multi-year expansions in revenue and profitability. Total operating income scaled significantly, and Profit After Tax (PAT) grew to ?12.20 crore for FY26, backed by healthy return ratios (RoNW of ~37.40%).

Instead of just general brokerage, the company frequently secures project-specific exclusive or semi-exclusive marketing rights, which helps secure better revenue visibility and higher brokerage realization.

Risks

The business is heavily dependent on a limited group of major real estate developers. For instance, a significant majority of operational revenue has historically been driven by its top few clients, making the company vulnerable if any key developer delays or cancels projects.Operations and revenue generation are tightly concentrated within Uttar Pradesh and Haryana (with Uttar Pradesh commanding the lion's share), exposing regional demand cyclicality, local regulatory shifts, and state-specific real estate downturns.

Operations and revenue generation are tightly concentrated within Uttar Pradesh and Haryana (with Uttar Pradesh commanding the lion's share), exposing regional demand cyclicality, local regulatory shifts, and state-specific real estate downturns.

A substantial block of the IPO proceeds (~?25 crore) is earmarked for investment into a group entity's project in Ayodhya. Direct real estate development exposes the firm to execution delays, extended capital lock-ups, and market absorption risks compared to a traditional asset-light brokerage model.