Black Opal Consultants IPO Subscribed 68.71 Times Driven by Strong Demand
New Delhi, October 3, 2026: The initial public offering of Black Opal Consultants Limited closed with strong investor interest, recording an overall subscription of 68.71 times at the end of the bidding process. The public issue received 59,512 applications, demonstrating broad-based participation across multiple investor categories, Black Opal Consultants said in a press release.
Non-institutional investors led the demand, with the non-institutional investor portion subscribed 92.30 times. The retail individual investor category followed with a subscription rate of 60.15 times, while the qualified institutional buyer segment was subscribed 59.77 times.
The company offered its shares in a price band of Rs 185 to Rs 197 per equity share, with a minimum lot size fixed at 600 equity shares. At the upper end of the price band, the total issue size stood at Rs 55.08 crore. The equity shares of Black Opal Consultants are proposed to be listed on the BSE SME platform.
Commenting on the bidding response, Prasoon Chauhan, Promoter & Managing Director, Black Opal Consultants Limited, said, “We are grateful to investors for the participation received during the IPO. The response across investor categories marks an important milestone for Black Opal. We remain focused on executing our business strategy with discipline and building the company for the long term.”
Established in 2020, Black Opal Consultants operates across real estate advisory, sales, and distribution, alongside selective project-level participation. Since its inception, the company has built an industry network comprising over 25 developers, 300 broker partners, and 2,200 customers, facilitating real estate sales exceeding Rs 4,000 crore.
Khambatta Securities Limited served as the book running lead manager and underwriter to the issue, alongside Share India acting as an underwriter. ORIN Connect acted as the investor relations and public relations partner for the transaction.
