Black Opal Consultants Limited IPO

Listed 07 Oct 2026, 68.71× subscribed, on the SME platform.

ListedSME· exchange
Subscribed
68.71×
59,512 applications
Price band
₹185 – ₹197
Minimum bid
₹2,36,400
1,200 shares, 2 lots
Issue size
—
not in the exchange feed
Listing gain
—
opened at ₹200.00
No verdict · needs 3 of 7 dimensions

Dates

Issuer's timetable, IST.

  1. 29 Sept
    Bidding opens
  2. 1 Oct
    Bidding closes
    Retail UPI mandates by 5 pm IST
  3. 5 Oct
    Allotment
    Status from Skyline Financial Services Private Limited
  4. 7 Oct
    Listing
    SME platform
  1. 29 Sept
    Bidding opens
  2. 1 Oct
    Bidding closes
    Retail UPI mandates by 5 pm IST
  3. 5 Oct
    Allotment
    Status from Skyline Financial Services Private Limited
  4. 7 Oct
    Listing
    SME platform

Demand and allotment odds

Times subscribed by investor category, one shared scale

· NSE · BSE
  • InstitutionsQIB
    59.77×
  • Non-institutionalNII
    92.30×
  • Above ₹10 lakhbNII
    146×
  • ₹2–10 lakhsNII
    82.56×
  • RetailRII
    60.15×

Max 146×, log scale; tick = 1× (fully subscribed). 59,512 applications.

Retail, 2 lots60.15× subscribed
~1 in 60.2
Minimum 2 lots, 1,200 shares, ₹2,36,400 blocked
How this is worked out

Retail is 60.15× subscribed. Allotment is a lottery on the minimum application, so roughly 1 in 60.2 applications gets one. Bidding for extra lots does not improve these odds.

HNI / NII92.30× subscribed
~1 in 92.3
Minimum 3 lots, 1,800 shares, ₹3,54,600 blocked
How this is worked out

HNI is 92.3× subscribed. This category is allotted proportionately, so a bid receives roughly 1/92.3 of the shares applied for, subject to the minimum-lot draw.

From SEBI allotment rules. Retail is a lottery on the minimum (2 lots); more lots do not raise the odds.

Grey-market premium

Unofficial dealer quotes; not from NSE, BSE or SEBI.

₹100up +50.8% over the upper band

over the upper band, rising since 29 Sept 2026

₹38 29 Sep8 quotes · dotted = ₹0 (band)₹100 6 Oct

Unregulated and unverifiable; not a listing-price forecast. See recent outcomes.

The offering

Terms, and valuation at the upper band.

Terms

Price band
₹185 – ₹197
Face value
₹10.00
Lot size
600 shares
Minimum application
₹2,36,400
2 lots at the upper band
Total issue size
—
Anchor investors
Allotted
Registrar
Skyline Financial Services Private Limited
Lead managers
KHAMBATTA SECURITIES LIMITED
ISIN
INE0M3101012

Company and valuation

P/E at upper band
—
ROE, latest period
56.25%
ROCE, latest period
75.05%
Debt/Equity, latest period
0.01
RoNW, latest period
56.25%
PAT Margin, latest period
34.94%
EBITDA Margin, latest period
47.07%
NAV, latest period
244.76
P/B (x), latest period
0.80

“Latest period” rows can be a part year, so ratios there may read low.

Who gets what

Split by investor category, and minimum bids.

  • QIB47.5%
  • NII (HNI)14.3%
  • Retail33.3%
  • Market Maker5.0%
Reservation by investor category
CategorySharesShare of issue
QIB13,27,20047.47%
Anchor Investor7,96,20028.48%
QIB (Ex. Anchor)5,31,00018.99%
NII (HNI)3,99,00014.27%
bNII > ₹10L2,65,8009.51%
sNII < ₹10L1,33,2004.76%
Retail9,30,00033.26%
Market Maker1,39,8005.00%

Total issue 27,96,000 shares. Indented rows sit inside the row above.

What each category may bid

Individual investors (IND) (Min)
₹2,36,400
2 lots, 1,200 shares
Individual investors (IND) (Max)
₹2,36,400
2 lots, 1,200 shares
S-HNI (Min)
₹3,54,600
3 lots, 1,800 shares
S-HNI (Max)
₹9,45,600
8 lots, 4,800 shares
B-HNI (Min)
₹10,63,800
9 lots, 5,400 shares

Small-HNI minimum is several lots, not one.

Anchor book

Shares allotted
7,96,200 shares
Anchor portion
₹15.69 Cr
Bid date
28 Sept 2026
Lock-in ends, first 50%
04 Nov 2026
Lock-in ends, the rest
03 Jan 2027

Lock-in dates = when anchor shares may first be sold.

How the issuer compares

Peers named by the issuer itself.

Peer comparison
CompanyEPS (₹)P/ENAV (₹)RoNW
Black Opal Consultants Limitedthis issue13.77—244.7656.25%
Homesfy Realty Limited4.4648.6×155.6743.24%

The offer document prints no P/E for the issuer; figures are pre-listing.

What happened to comparable issues

Last 8 listings, most comparable first. Context, not a forecast.

Median listing gain
unchanged 0.0%
Opened above issue
3 of 8
Largest
up +90.0%
Maxwell Engineering Solutions Limited
Weakest
down minus 5.9%
Eventions Limited
Comparable listings
IssueSubscribedListing gainListing gain bar
Vedant Poly Fabs Limited1.9×unchanged 0.0%
Maxwell Engineering Solutions Limited491×up +90.0%
HGS (India) Limited231×up +33.3%
Ravita Engineering Services Limited6.7×unchanged 0.0%
Vaibhav Vyapaar Limited3.1×down minus 2.0%
R.K. Fashion Accessories Limited2.6×down minus 2.4%
Eventions Limited2.3×down minus 5.9%
Papadmalji Agro Foods Limited2.5×up +0.4%

Different companies at different prices. Bars share one scale (full = 90%).

Offer documents

Primary sources.

Common questions

What is the Black Opal Consultants Limited IPO GMP today?

The most recent grey-market premium recorded for Black Opal Consultants Limited is ₹100 per share — about 50.8% over the ₹197 upper band. Grey-market premium is an unofficial, unregulated quote from private dealers. It is not published by NSE, BSE, SEBI or the company, and it is not a forecast of the listing price.

How many times is the Black Opal Consultants Limited IPO subscribed?

Black Opal Consultants Limited is subscribed 68.71× overall (QIB 59.77×, NII 92.30×, retail 60.15×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, Skyline Financial Services Private Limited.

What is the minimum investment in the Black Opal Consultants Limited IPO?

One lot is 600 shares, so a retail application at the ₹197 cut-off price blocks ₹1,18,200. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.

What are the chances of allotment in the Black Opal Consultants Limited IPO?

The retail portion is subscribed 60.15×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 60. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.

When is the Black Opal Consultants Limited IPO allotment date?

Allotment is scheduled for 2026-10-05, with listing on 2026-10-07. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, Skyline Financial Services Private Limited.

Source: offer document, NSE and BSE bidding data; allotment basis from the registrar. Grey-market premium is unofficial. For information only, not investment advice: consult a SEBI-registered adviser before applying.