Black Opal Consultants IPO Subscription Day 2: 1.24x

Mumbai, September 30: Black Opal Consultants IPO was subscribed 1.24 times overall by the end of Day 2 of bidding on Wednesday, September 30, 2026. The IPO received bids for 23,15,400 shares against 18,60,000 shares offered to the public.

The individual investors category was subscribed 1.61 times, while the NII category was subscribed 1.03 times. The QIB (Ex Anchor) portion was subscribed 0.76 times.

The Black Opal Consultants IPO opened for subscription on September 29, 2026, and will remain open until October 1, 2026.

Black Opal Consultants IPO Subscription Status

The individual investors category received bids for 14,98,800 shares against 9,30,000 shares offered, resulting in a subscription of 1.61 times.

The NII category was subscribed 1.03 times, with bids received for 4,10,400 shares against 3,99,000 shares offered.

Within the NII segment, the bNII portion was subscribed 0.96 times, while the sNII portion was subscribed 1.17 times.

The QIB (Ex Anchor) category received bids for 4,06,200 shares against 5,31,000 shares available, resulting in a subscription of 0.76 times.

The market maker portion of 1,39,800 shares was fully subscribed at 1.00 times.

Overall, the issue received bids for 23,15,400 shares against 18,60,000 shares offered to the public, taking the overall subscription to 1.24 times.

The total amount of bids stood at ₹45.613 crore, based on the upper end of the price band.

The IPO had received 1,381 applications as of the Day 2 update.

Day-wise Black Opal Consultants IPO Subscription

Date	QIB (Ex Anchor)	NII	NII (> ₹10L)	NII (< ₹10L)	Individual Investors	Total
Sep 29 (Day 1)	0.48x	0.17x	0.21x	0.10x	0.39x	0.37x
Sep 30 (Day 2)	0.76x	1.03x	0.96x	1.17x	1.61x	1.24x

Black Opal Consultants IPO Details

Black Opal Consultants IPO is a ₹55.08 crore book-built issue comprising a fresh issue of 22.38 lakh shares aggregating to ₹44.09 crore and an offer for sale of 5.58 lakh shares aggregating to ₹10.99 crore.

The IPO has a price band of ₹185 to ₹197 per share. The lot size is 600 shares.

For individual investors, the minimum application is 2 lots, or 1,200 shares, requiring an investment of ₹2,36,400 at the upper price.

For HNI investors, the minimum application is 3 lots, or 1,800 shares, amounting to ₹3,54,600 at the upper price.

The IPO is scheduled to close on October 1, 2026, and is proposed to list on the BSE SME platform on October 7, 2026.

Khambatta Securities Ltd. is the book-running lead manager, while Skyline Financial Services Pvt. Ltd. is the registrar to the issue. Share India Securities Ltd. is the market maker.

Black Opal Consultants IPO Issue Size

Particulars	Details
Total Issue Size	27,96,000 shares
Fresh Issue	20,98,200 shares
Fresh Issue Amount	₹44.09 crore
Offer for Sale	5,58,000 shares
Offer for Sale Amount	₹10.99 crore
Market Maker Reservation	1,39,800 shares
Net Offered to Public	26,56,200 shares
Face Value	₹10 per share
Price Band	₹185 to ₹197
Lot Size	600 shares
Issue Type	Bookbuilding IPO
Listing Platform	BSE SME

Black Opal Consultants IPO Reservation

Out of the total issue size of 27,96,000 shares, 13,27,200 shares were allocated to QIBs, representing 49.97% of the net issue. The NII category was allocated 3,99,000 shares, while 9,30,000 shares were reserved for individual investors.

A total of 1,39,800 shares, or 5% of the total issue, have been reserved for the market maker.

Investor Category	Shares	% of Net Issue	% of Total Issue
QIB	13,27,200	49.97%	47.47%
NII	3,99,000	15.02%	14.27%
bNII (> ₹10L)	2,65,800		9.51%
sNII (< ₹10L)	1,33,200		4.76%
Retail	9,30,000	35.01%	33.26%
Market Maker	1,39,800		5.00%
Total	27,96,000	100.00%	100.00%

Black Opal Consultants IPO Lot Size

Investors can bid for a minimum of 1,200 shares and in multiples of 600 shares thereafter.

Application	Lots	Shares	Amount
Individual Investors (Min)	2	1,200	₹2,36,400
Individual Investors (Max)	2	1,200	₹2,36,400
S-HNI (Min)	3	1,800	₹3,54,600
S-HNI (Max)	8	4,800	₹9,45,600
B-HNI (Min)	9	5,400	₹10,63,800

Black Opal Consultants IPO Allotment and Listing

The Black Opal Consultants IPO is still open for subscription and will close on October 1, 2026.

The tentative allotment is scheduled for October 5, 2026. Refunds are expected to begin on October 6, while shares are scheduled to be credited to successful applicants on the same day.

The IPO is tentatively scheduled to list on the BSE SME platform on October 7, 2026.

Black Opal Consultants IPO Timeline

Event	Date
IPO Open	September 29, 2026
IPO Close	October 1, 2026
Allotment	October 5, 2026
Refund	October 6, 2026
Credit of Shares	October 6, 2026
Listing	October 7, 2026

About Black Opal Consultants Ltd.

Incorporated in 2020, Black Opal Consultants Limited works with real estate developers such as Gaurs Group, SKA, Galaxy, Shapoorji Pallonji, Max Estates and M3M to market and sell 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. It also works with group entities, including Aurika Homes Private Limited, to market and sell Aurika Homes’ projects.

Conclusion

Black Opal Consultants IPO was subscribed 1.24 times by the end of Day 2, with the individual investors category recording the highest subscription at 1.61 times among the public investor categories. NII stood at 1.03 times, while QIB (Ex Anchor) was at 0.76 times.

The IPO is not closed yet. It will remain open for subscription on October 1, 2026.

Source:

• https://www.bseindia.com/markets/publicissues/displayipo?id=4867&type=IPO&idtype=1&status=L&IPONo=8017&startdt=29%2F09%2F2026