Black Opal Consultants IPO Subscribed 68.71 Times
Black Opal Consultants IPO sees massive demand, subscribed 68.71 times. Discover details on NII, RII, and QIB subscription figures here.
The Black Opal Consultants IPO has witnessed massive enthusiasm from the market, closing with a total subscription of 68.71 times. As the bidding process concluded, the company saw a significant surge in applications, signaling strong investor confidence in its business model.
Breakdown of Investor Participation
The total number of applications received during the offering reached 59,512. The subscription was spread across various investor categories, with the Non-Institutional Investor (NII) segment leading the charge. Here is how the subscription numbers unfolded:
- Non-Institutional Investors (NII): Subscribed 92.30 times
- Retail Individual Investors (RII): Subscribed 60.15 times
- Qualified Institutional Buyers (QIB): Subscribed 59.77 times
IPO Details and Listing Information
The issue was offered within a price band of ₹185 to ₹197 per equity share. Investors could participate with a lot size of 600 equity shares. At the upper end of the price band, the total issue size was valued at ₹55.08 crore. Upon completion of the process, the company's equity shares are set to be listed on the BSE SME platform.
A Milestone for Black Opal Consultants
Reflecting on the high level of interest, Prasoon Chauhan, Promoter & Managing Director of Black Opal Consultants Limited, noted that the participation across all categories marks a significant milestone for the firm. He emphasized that the company remains dedicated to its long-term business strategy and disciplined execution.
Company Profile and Track Record
Founded in 2020, Black Opal Consultants has established itself in the real estate sector through advisory, sales, and distribution services. The company boasts a robust network, including:
- Over 25 developers
- More than 300 broker partners
- A customer base exceeding 2,200 individuals
Since its inception, the firm has successfully facilitated real estate sales totaling more than ₹4,000 crore.
Key Management and Partners
Khambatta Securities Limited served as the Book Running Lead Manager and Underwriter for the issue, with Share India also acting as an Underwriter. ORIN Connect managed the Investor Relations and Public Relations aspects of the offering.