PNN
New Delhi [India], October 2: Black Opal Consultants Limited’s Initial Public Offering (IPO) received strong investor interest, with the issue being subscribed 68.71 times at the close of the bidding process. The IPO received 59,512 applications, reflecting participation across investor categories.
The Non-Institutional Investor (NII) portion was subscribed 92.30 times, while the Retail Individual Investor (RII) portion was subscribed 60.15 times and the Qualified Institutional Buyer (QIB) portion was subscribed 59.77 times.
The IPO was offered in a price band of ₹185 to ₹197 per equity share, with a lot size of 600 equity shares. The issue size stood at ₹55.08 crore at the upper end of the price band. The company’s equity shares are proposed to be listed on the BSE SME platform.
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. The company has built a network comprising 25+ developers, 300+ broker partners and 2,200+ customers, and has facilitated real estate sales of more than ₹4,000 crore since inception.
Khambatta Securities Limited is the Book Running Lead Manager to the issue and also serves as an Underwriter, with Share India also acting as an Underwriter. ORIN Connect is the Investor Relations and Public Relations Partner.
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