Primary market action continues to gain momentum as boutique real estate marketing and consulting firm Black Opal Consultants Limited officially unveiled the details of its upcoming public issue. The company’s initial public offering (IPO) is slated to open for public subscription on Tuesday, September 29, 2026, and will close on Thursday, October 1, 2026. The issue comprises a total offering size of ₹55.08 crore, structured as a combination of 22.38 lakh fresh equity shares alongside an Offer for Sale (OFS) component of 5.58 lakh shares. The basis of share allotment is scheduled to be finalized on October 5, 2026, followed by the proposed listing of equity shares on the BSE SME platform on October 7, 2026.

Price Band Fixed at ₹185–₹197: Minimum Investment and Lot Details

The promoters have determined a price band of ₹185 to ₹197 per equity share for the public issue. The bidding lot size is set at 600 equity shares, while retail and non-institutional participants are required to bid for a minimum of two lots, amounting to 1,200 equity shares. At the upper end of the price band, the minimum investment threshold for market applicants stands at ₹236,400. Khambatta Securities Limited has been appointed to act as the sole lead manager steering the underwriting and book-building process, while Skyline Financial Services Private Limited has been designated as the official registrar to manage share allotments, application verification, and refund reconciliations.

Business Portfolio: Commercial Collaborations and Ayodhya Project Allocation

Black Opal Consultants operates as an integrated service provider within the real estate ecosystem, focusing on project consulting, marketing advisory, and end-to-end sales execution. The enterprise partners with prominent real estate developers across major urban corridors, managing property sales and brand campaigns for prominent industry players including Gaurs Group, EKHO, Shapoorji Pallonji, X Estate, and M3M. Regarding the deployment of proceeds, the firm plans to channel ₹7 crore into aggressive business development and marketing initiatives, allocate ₹26 crore to finance the residential development project under Aurica Developers LLP in Ayodhya, Uttar Pradesh, and deploy the remaining net balance toward working capital and general corporate objectives. Meanwhile, unofficial grey market premium (GMP) counters report subdued early interest, with the IPO currently quoting at a neutral premium of zero rupees ahead of the open.