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Black Opal Consultants SME IPO Review

Black Opal Consultants SME IPO has been reviewed by 1 analyst, and the overall consensus is Strictly Avoid — carrying a score of 0. Out of the 1 analysts who have covered this IPO, 0 recommend subscribing while 1 advises caution or avoidance — reflecting a cautious view from the analyst community.

The issue is priced in the band of ₹185-197 per share, with a minimum application size of 600 shares (minimum investment of approximately ₹118,200 at the upper band). Subscription ran from 29 Sep 2026 to 01 Oct 2026. The issue size is ₹55 crore, a mix of fresh issue and offer for sale. As of now, the grey market premium (GMP) for Black Opal Consultants SME IPO is quoting at ₹9 (4.57%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
0/ 100
Strictly Avoid 0 of 1 recommend subscribing
How analysts voted
Avoid 1
Not rated 1

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

Black Opal Consultants sells and markets residential and commercial projects for established developers, earning brokerage income, with operations centred on Uttar Pradesh and Haryana. Coverage is thin at one note, which gave no rating. Total income was ₹42.34 crore in FY26 against ₹19.91 crore in FY24, and profit ₹12.20 crore against ₹4.32 crore.

Listing gains

At the upper band of ₹197 the one note values the issue at 17.06 times post-issue earnings and 5.03 times book, and calls this a premium valuation. The only listed peer it cites is loss-making, so there is no useful multiple to compare. One source is a limited basis for a listing view, and the premium it describes points to a muted listing.

Short-term strategy

Part of the ₹55.08 crore issue funds securing new sales and marketing mandates, and another part goes into a group entity developing a commercial project in Ayodhya. Investing cash flow was negative in FY26 because of advances and investments in group LLPs. Broker commissions rose to 52.48% of revenue. The note reads these as capital deployment and margin risks.

Long-term strategy

The note credits growth, with revenue rising at a 45.76% yearly rate over two years, and a move into higher-margin project development through partnership stakes. The risks are concentration: the top five customers gave 67.69% of FY26 revenue and Uttar Pradesh 77.94%. With no rating given, the long-term case in the note depends on the development ventures paying off.

How this is written: an AI-assisted summary of the 2 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

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Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Analyst Verdict Report
Not Rated PDF
Avoid PDF

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Black Opal Consultants SME IPO?

The analyst consensus for Black Opal Consultants SME IPO tracked on this page is Strictly Avoid, with a score of 0/100. Out of 1 analyst who have reviewed this IPO, 0 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 0 mean for Black Opal Consultants SME IPO?

The score of 0 is an aggregate of all analyst ratings tracked for Black Opal Consultants SME IPO. A score in this range signals that most analysts are advising caution or outright avoidance. Read the individual analyst verdicts above for more context.

What was the actual listing price of Black Opal Consultants SME IPO?

Black Opal Consultants SME IPO listed on October 7, 2026 at ₹200, against the issue price of ₹197 — a gain of +1.52% (₹3 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Black Opal Consultants SME IPO?

Black Opal Consultants SME IPO was priced at ₹185-197 per share. The minimum lot size is 600 shares, making the minimum investment approximately ₹118,200 at the upper end of the price band. Subscription ran from 29 Sep 2026 to 01 Oct 2026.

Explore Black Opal Consultants SME IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Black Opal Consultants SME IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Strictly Avoid
Score
0 / 100
Listed at
₹200
Full IPO details
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