What is the Novus Loyalty IPO price band?

Novus Loyalty IPO price band is Rs. 139 to Rs. 146 per share.

What is the Novus Loyalty IPO lot size?

Novus Loyalty IPO lot size is 1,000 shares, while retail minimum application is 2,000 shares.

When will Novus Loyalty IPO list?

Novus Loyalty IPO will tentatively list on Mar 25, 202

Novus Loyalty IPO: Key Details You Need to Know

IPO Overview

Novus Loyalty IPO is a book build issue of Rs. 60.15 crores. The issue is a combination of fresh issue of 0.33 crore shares aggregating to Rs. 48.18 crores and offer for sale of 0.08 crore shares aggregating to Rs. 11.97 crores. Novus Loyalty IPO opens for subscription on Mar 17, 2026 and closes on Mar 20, 2026. The allotment for the Novus Loyalty IPO is expected to be finalized on Mar 23, 2026. Novus Loyalty IPO will list on BSE SME with a tentative listing date fixed as Mar 25, 2026.

Particular	Details
IPO Size	Rs. 60.15 crores
Business	Technology-driven loyalty and rewards solutions
Market Presence	India and international markets including UAE, USA, Australia and Puerto Rico
Key Risk	Small scale operations and competition in a technology-led segment
Chanakya View	Profitable niche loyalty platform business; valuation and scalability remain key monitorables

Particular	Details
IPO Date	17–20 March 2026
Price Band	Rs. 139 – Rs. 146
Lot Size	1,000 Shares
Issue Size	Rs. 60.15 Cr
Listing Date	25 March 2026

👉 Latest Novus Loyalty IPO GMP, subscription status, financials, valuation and Chanakya review explained below.

Novus Loyalty IPO GMP – Latest Update

Novus Loyalty IPO GMP data is awaited. The latest grey market premium update will be reflected below once active indications emerge.

GMP	Estimated Listing Price	Expected Gains
Rs. NIL	Rs. 146	0%

Grey Market Premium (GMP) indicates the estimated listing sentiment based on unofficial market demand and may change frequently.

Novus Loyalty IPO Subscription Status – Live Update

Novus Loyalty IPO subscription status is yet to begin. Live category-wise subscription data will be updated once the issue opens for bidding.

Category	Subscription
QIB	Not Open Yet
B-NII	Not Open Yet
S-NII	Not Open Yet
NII Total	Not Open Yet
Retail (RII)	Not Open Yet
Total	Not Open Yet
Applications	Not Open Yet

Updated: Subscription data will be updated once bidding starts on Mar 17, 2026.

Novus Loyalty IPO allotment status will be finalised on Monday, Mar 23, 2026. Investors can check allotment status online through Kfin Technologies once the basis of allotment is completed.

Particular	Details
Price Band	Rs. 139 to Rs. 146 per share
Face Value	Rs. 10 per share
Issue Type	Book Building IPO

Category	Minimum Shares	Investment
Retail Minimum	2,000 Shares	Rs. 2,92,000
Retail Maximum	2,000 Shares	Rs. 2,92,000

Novus Loyalty IPO listing date is tentatively scheduled for Wednesday, Mar 25, 2026 on BSE SME.

🕗 Last Update: 10 March 2026, 6.00 AM

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IPO Details at a Glance

Particulars	Details
IPO Opening Date	Tuesday, 17 Mar 2026
IPO Closing Date	Friday, 20 Mar 2026
Listing Date (Tentative)	Wednesday, 25 Mar 2026
Face Value	Rs. 10 per share
Price Band	Rs. 139 to Rs. 146
Lot Size	1,000 Shares
Issue Type	Book Building IPO
Sale Type	Fresh capital cum OFS
Total Issue Size	41,20,000 shares (agg. up to Rs. 60 Cr)
Reserved for Market Maker	2,30,000 shares (agg. up to Rs. 3 Cr)
Market Maker	Shreni Shares Ltd.
Fresh Issue (Ex Market Maker)	30,70,000 shares (agg. up to Rs. 45 Cr)
Offer for Sale	8,20,000 shares of Rs. 10 (agg. up to Rs. 12 Cr)
Net Offered to Public	38,90,000 shares (agg. up to Rs. 57 Cr)
Listing At	BSE SME
Share Holding Pre Issue	1,22,50,200 shares
Share Holding Post Issue	1,55,50,200 shares
Market Cap (Pre-IPO)	Rs. 227.03 Cr.

IPO Timetable

Event	Date
IPO Opens	Tue, Mar 17, 2026
IPO Closes	Fri, Mar 20, 2026
Allotment	Mon, Mar 23, 2026
Refunds	Tue, Mar 24, 2026
Credit of Shares	Tue, Mar 24, 2026
Listing	Wed, Mar 25, 2026

Reservation

Category	Shares Offered
Market Maker Shares Offered	2,30,000 (5.58%)
QIB Shares Offered	19,40,000 (47.09%)
Anchor Investor Shares Offered	11,30,000 (27.43%)
QIB (Ex. Anchor) Shares Offered	8,10,000 (19.66%)
NII (HNI) Shares Offered	5,85,000 (14.20%)
Retail Shares Offered	13,65,000 (33.13%)
Total Shares Offered	41,20,000 (100.00%)

Lot Size

Application	Lots	Shares	Amount
Individual Investors (Retail) (Min)	2	2,000	Rs. 2,92,000
Individual Investors (Retail) (Max)	2	2,000	Rs. 2,92,000
S-HNI (Min)	3	3,000	Rs. 4,38,000
S-HNI (Max)	6	6,000	Rs. 8,76,000
B-HNI (Min)	7	7,000	Rs. 10,22,000

Company Details

Novus Loyalty Limited, incorporated in 2011, is a technology-driven company that provides loyalty and rewards solutions for industries like fintech, e-commerce, software, banking, FMCG, real estate and more. The company offers a modern loyalty platform built with the latest technology.

The company provides both customizable and ready-to-use program models, including point-based rewards, event-triggered campaigns, cashback systems, purchase-linked promotions and digital vouchers. Its platform is flexible, easy to integrate with existing systems, and works across web, mobile apps and physical stores for a smooth customer experience.

It offers both on-premises and SaaS (software as a service) models along with AI-powered analytics to its clients.

On-premises deployment is installed on the client’s servers or private cloud for full data control and is ideal for large businesses with strict security needs. SaaS deployment is a subscription model that is easy to set up and manage and is suitable for businesses that need a quick and scalable solution.

The company operates in both Indian and international markets. In the domestic market, it serves customers across Telangana, Haryana, Uttar Pradesh, Maharashtra, Punjab, Tamil Nadu, Rajasthan, Delhi and Karnataka, while globally it serves customers in UAE, USA, Australia and Puerto Rico.

As of January 31, 2026, the company had around 50 personnel.

Competitive Strengths
Comprehensive Loyalty Solutions
Experienced promoters and management team
Quality assurance and quality certification
Clients in international markets

Particular	Details
Company Promoters	Deepak Tomar and Sweta Singh
Company Address	727, Udyog Vihar Phase V, Industrial Complex Dundahera, Gurgaon, Haryana, 122016
Contact Number	9717154514
Email	investor@novusloyalty.com

IPO Lead Manager(s)	Details
Book Running Lead Manager	Smart Horizon Capital Advisors Pvt. Ltd.

IPO Registrar	Details
Registrar	Kfin Technologies Ltd.
Contact	04067162222 / 04079611000
Email	novus.ipo@kfintech.com

Financials

Particulars	30 Sep 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	21.83	14.81	12.36	13.38
Total Income	71.43	104.63	73.61	59.61
EBITDA	7.79	5.69	4.82	2.27
PAT	5.80	3.58	2.96	0.55
Net Worth	18.89	13.09	9.50	6.54
Reserves & Surplus	6.64	13.08	9.49	6.53
Total Borrowings	—	—	0.82	3.53

IPO Objects of the Issue	Estimated Amount (Rs. Cr.)
Funding of expenditure towards investment in upgrading, enhancement of and development of new products	13.00
Business development and marketing activities including manpower hiring	9.62
General corporate purposes and unidentified inorganic acquisition	—

KPI	Sep 30, 2025	Mar 31, 2025
ROE	36.30%	31.74%
ROCE	40.64%	40.40%
RoNW	30.73%	27.39%
PAT Margin	8.13%	3.43%
EBITDA Margin	10.91%	5.44%
Price to Book Value	9.47	13.67

Valuation

Particular	Pre IPO	Post IPO
EPS (Rs.)	2.93	7.47
P/E (x)	49.89	19.56
Promoter Holding	95.62%	To be declared
Market Cap	Rs. 227.03 Cr.	—

Chanakya View

Novus Loyalty operates in a niche and scalable loyalty technology segment with a mix of SaaS and on-premises delivery models. The company has shown improvement in profitability and margins, while its domestic and overseas client presence adds diversification to the business model.

The issue appears to be positioned as a growth-oriented SME technology offering. Investors should track scalability of client acquisition, sustainability of margins and execution of product development and business expansion plans after listing.

From a medium- to long-term perspective, the IPO may be considered by informed investors who understand the risks associated with SME issues and relatively smaller technology platforms.

Novus Loyalty IPO