Black Opal Consultants Ltd. is scheduled to list its shares on the BSE SME platform today, October 7, following a heavily subscribed IPO. The issue received overall subscription of 68.71 times during the bidding period.
The IPO had a price of Rs.197 per share. The company plans to use funds raised through the fresh issue partly towards securing sales and marketing mandates and investment in Aurika Developers LLP, a group entity associated with a project in Ayodhya.
The listing comes amid continued activity in India’s SME IPO segment, with several companies completing their public offerings and moving towards stock-market debuts. Black Opal’s subscription response places it among the more closely watched SME listings of the current IPO cycle.
