Black Opal Consultants Limited announces IPO details

Black Opal Consultants Limited, an integrated real estate platform based in the Delhi-NCR region, has announced its Initial Public Offering (IPO) will open on September 29, 2026, and close on October 1, 2026. The company has set a price band of ₹185 to ₹197 per share, with a minimum lot size of 600 shares. The offering is intended for listing on the BSE SME Platform.

The issue comprises 2,796,000 equity shares, consisting of a fresh issue of 2,238,000 shares and an offer for sale of 558,000 shares. Reservations include up to 1,327,800 shares for Qualified Institutional Buyers, at least 398,400 for Non-Institutional Investors, and at least 930,000 for retail investors. Khambatta Securities Limited is the Book Running Lead Manager, and Share India Capital Services Pvt. Ltd. is the underwriter.

Black Opal operates through two primary divisions: a fee-based Real Estate Consulting & Advisory arm and a project-based Real Estate Development arm under the Ourika Estates brand. The company reported revenue growth from ₹19.75 crore in FY24 to ₹41.97 crore in FY26, with a Profit After Tax (PAT) of ₹12.22 crore in FY26. Net proceeds from the fresh issue are slated for security deposits for developer mandates, investments in Aurika Developers LLP for commercial construction, and general corporate purposes.