Black Opal Consultants IPO
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Black Opal Consultants IPO details
Schedule of Black Opal Consultants
| Issue open date | 29 Sep 2026 |
| Issue close date | 01 Oct 2026 |
| UPI mandate deadline | 01 Oct 2026 (5 PM) |
| Allotment finalization | 05 Oct 2026 |
| Refund initiation | 06 Oct 2026 |
| Share credit | 06 Oct 2026 |
| Listing date | 07 Oct 2026 |
| Mandate end date | 16 Oct 2026 |
| Lock-in end date for anchor investors (50%) | 03 Nov 2026 |
| Lock-in end date for anchor investors (remaining) | 02 Jan 2027 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Black Opal Consultants
Black Opal Consultants operates as a financial and real estate consultancy firm providing integrated real estate solutions. The company generates revenue primarily through brokerage income from selling residential and commercial properties under exclusive sales mandates with real estate developers. Additionally, it earns revenue from loan syndication fees, advisory services, and real estate project development activities. Its core business activities include acting as a channel partner for property sales, offering real estate advisory, and facilitating property financing. The company’s operations are geographically concentrated in Uttar Pradesh and Haryana, specifically in Noida, Greater Noida, and Gurugram. It is also diversifying into real estate development, including a commercial hotel project named Veda in Ayodhya through its subsidiary entity, Aurika Developers. Furthermore, the company engages in inventory underwriting for real estate developers and is developing a digital property platform called JustHomz through its wholly owned subsidiary, Black Opal Technologies.
Financials of Black Opal Consultants
Issue size
| Funds Raised in the IPO | Amount (₹ crores) |
| Total issue size | 55.08 |
| Fresh Issue – Proceeds go to the company | 44.09 |
| Offer for sale – Proceeds go to the existing investors | 10.99 |
Utilisation of Proceeds
| Purpose | INR crores (%) |
|---|---|
| Funding for securing sales and marketing mandates | 7 (15.88%) |
| Investment in Aurika Developers LLP for Ayodhya project development | 26 (58.97%) |
| General Corporate Purposes | 11.09 (25.15%) |
Strengths
- Integrated advisory, sales, and loan syndication services.
- Established channel network in the Delhi-NCR market.
- Strategic expansion into Ayodhya commercial real estate.
- Tech-driven approach via the JustHomz digital platform.
- Highly experienced promoters and management team.
Risks
- High revenue reliance on a few clients lacking long-term contracts.
- Operations highly concentrated in Uttar Pradesh and Haryana.
- Entering real estate development without a prior track record.
- IPO funds for underwriting lack a specifically identified inventory.
- Pending UP RERA real estate agent registration renewal.