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Novus Loyalty

Bookbuilding IPO | ₹60 Cr | Listed at BSE SME | Tue, Mar 17, 2026 - Fri, Mar 20, 2026

IPO Stats
IPO Timetable
FAQ

Novus Loyalty IPO is a book build issue of ₹60.15 crores. The issue is a combination of fresh issue of 0.33 crore shares aggregating to ₹48.18 crores and offer for sale of 0.08 crore shares aggregating to ₹11.97 crores.

Novus Loyalty IPO bidding started from Mar 17, 2026 and ended on Mar 20, 2026. The allotment for Novus Loyalty IPO was finalized on Mar 23, 2026. The shares got listed on the BSE SME on Mar 25, 2026.

Novus Loyalty IPO is set final issue price at ₹146 per share. The lot size for an application is 1,000 shares. The minimum amount of investment required by an individual investor (retail) is ₹1,46,000 (2,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,000 shares), amounting to ₹4,38,000.

Smart Horizon Capital Advisors Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Shreni Shares Ltd..

Refer to Novus Loyalty IPO RHP for detailed Information.

IPO Stock Quote & Charts

IPO Details

IPO Date

17 to 20 Mar, 2026
Listing Date

Wed, Mar 25, 2026
Face Value

₹10 per share
Price Band

₹139 to ₹146
Issue Price

₹146 per share
Lot Size

1,000 Shares
Sale Type

Fresh capital cum OFS
Issue Type

Bookbuilding IPO
Listing At

BSE SME

Total Issue Size

41,20,000 shares (agg. up to ₹60 Cr)
Reserved for Market Maker

2,30,000 shares (agg. up to ₹3 Cr) Shreni Shares Ltd.
Fresh Issue (Ex Market Maker)

30,70,000 shares (agg. up to ₹45 Cr)
Offer for Sale

8,20,000 shares of ₹10 (agg. up to ₹12 Cr)
Net Offered to Public

38,90,000 shares (agg. up to ₹57 Cr)
Share Holding Pre Issue

1,22,50,200 shares
Share Holding Post Issue

1,55,50,200 shares
BSE Script Code

544735
ISIN

INE1TFS01019

IPO Timetable (Tentative)

IPO Open

Tue, Mar 17, 2026
Allotment

Mon, Mar 23, 2026
Credit of Shares

Tue, Mar 24, 2026

IPO Close

Fri, Mar 20, 2026
Refund

Tue, Mar 24, 2026
Listing

Wed, Mar 25, 2026

IPO Reservation

Novus Loyalty IPO offers total 41,20,000 shares. Out of which 19,40,000 (47.09%) allocated to QIB, 5,86,000 (14.22%) allocated to NII 13,64,000 (33.11%) allocated to RII and 11,30,000 (27.43%) allocated to Anchor investors.

Investor Category	Shares Offered	% of Net Issue	% of Total Issue
QIB Shares Offered	19,40,000	49.87%	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	5,86,000	15.06%	14.22%
− bNII > ₹10L	3,91,000		9.49%
− sNII < ₹10L	1,95,000		4.73%
Retail Shares Offered	13,64,000	35.06%	33.11%
Firm Reservations
Market Maker Shares Offered	2,30,000		5.58%
Total Shares Offered	41,20,000	100.00%

IPO Lot Size

Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof.

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

IPO Subscription Details

IPO Anchor Investors

Novus Loyalty IPO raises ₹16.50 crore from anchor investors. Novus Loyalty IPO Anchor bid date is March 16, 2026.
📝 Anchor Investors Letter (PDF)

Bid Date	Mon, Mar 16, 2026
Shares Offered	11,30,000
Anchor Portion (₹ Cr.)	16.50
Anchor lock-in period end date for 50% shares (30 Days)	Wed, Apr 22, 2026
Anchor lock-in period end date for remaining shares (90 Days)	Sun, Jun 21, 2026

About Novus Loyalty Ltd.

Incorporated in 2011, Novus Loyalty 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 with infrastructure and SaaS (software as a service) models along with AI powered analytics to its clients.

On-Premises: Installed on the client’s servers or private cloud for full data control ideal for large businesses with strict security needs.
SaaS (Cloud-based): Subscription model that’s easy to set up and manage perfect for businesses that need a quick and scalable solution.

Market presence: The company operates in both Indian and international markets. In the domestic market, it serves customers across the states of Telangana, Haryana, Uttar Pradesh, Maharashtra, Punjab, Tamil Nadu, Rajasthan, Delhi, and Karnataka while it serves customers globally 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

Company Financials (Restated)

Period Ended	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
Profit After Tax	5.80	3.58	2.96	0.55
EBITDA	7.79	5.69	4.82	2.27
NET Worth	18.89	13.09	9.50	6.54
Reserves and Surplus	6.64	13.08	9.49	6.53
Total Borrowing			0.82	3.53
Amount in ₹ Crore

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

# Issue Objects

Est Amt (₹ Cr.)
1) Funding of expenditure towards Investment in upgrading enhancement of and development of new products

13.00
2 Business Development and Marketing Activities including manpower hiring

9.62
3 General corporate purposes and Unidentified Inorganic Acquisitions

16.86
Total

39.48

Key Performance Indicator (KPI)

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

Check IPO Peer Comparison here.

Pre IPO	Post IPO
EPS (₹)	2.93	7.47
P/E (x)	49.89	19.56
Promoter Holding	95.62%	70.05%
Market Cap	₹227.03 Cr.

Deepak Tomar and Sweta Singh are the company promoters.

The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025 available in RHP.

IPO Review

[Dilip Davda]

NLL is a technology driven loyalty and rewards solution provider to strengthen customer-corporate relations. Boosted margins from FY24 onwards and bumper profits of H1-FY26 raise eyebrows and concern over its sustainability. There appears to be a window dressing for fancy valuations for the IPO. Based on recent financial data, the issue appears aggressively priced. Only well-informed/cash surplus/risk seekers may park moderate funds for medium term.

Read detail review…

Novus Loyalty IPO Recommendations

Review By	Subscribe	May Apply	Neutral	Avoid
Brokers	0	0	0	0
Members	0	0	0	0

IPO Subscription Status

The Novus Loyalty IPO is subscribed 1.55 times on March 20, 2026 6:54:35 PM (Day 4). The public issue subscribed 1.82 times in the individual investors category, 1.38 times in the QIB category, and 1.17 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category	Subscription (x)	Shares Offered	Shares bid for	Total Applications
QIB (Ex Anchor)	1.38	8,10,000	11,15,000	0
NII*	1.17	5,86,000	6,84,000	0
bNII (> ₹10L)	1.31	3,91,000	5,12,000
sNII (< ₹10L)	0.88	1,95,000	1,72,000
Individual Investor	1.82	13,64,000	24,80,000	0
Total	1.55	27,60,000	42,79,000	1,341

Total Applications: 1,341

*Market Maker portion is not included to NII/HNI.

IPO Expenses

# Issue Expenses

Est Amt (₹ Cr.)
1 Book Running Lead Manager Fees including underwriting and Marketing commission

5.92
2 Brokerage, selling, commission and upload fees

0.01
3 Registrar to the Offer

0.02
4 Legal Advisors

0.02
5 Advertising and Marketing expenses

0.06
6 Regulators including stock exchanges

0.09
7 Printing and distribution of offer stationery

0.01
8 Others, if any (market making, depositories, marketing fees, secretarial, peer review etc.)

0.07
Total

10.86

Listing Day Trading Information

Price Details	BSE SME
Final Issue Price	₹146.00
Open	₹146.00
Low	₹138.70
High	₹149.95
Last Trade	₹146.65

IPO Registrar

Kfin Technologies Ltd.

04067162222, 04079611000
novus.ipo@kfintech.com
Visit Website

IPO Lead Manager(s)

Smart Horizon Capital Advisors Pvt.Ltd. (Past IPO Performance)

Lead Manager Reports

Lead Manager Performance Summary
Lead Manager Performance Tracker

Contact Details

Novus Loyalty Ltd. Address

727, Udyog Vihar Phase V

Industrial Complex Dundahera,

Gurgaon, Haryana, 122016

9717154514
investor@novusloyalty.com
Visit Website

IPO FAQs

What is the Novus Loyalty IPO?

Novus Loyalty IPO is a SME IPO of 41,20,000 equity shares of the face value of ₹10 aggregating up to ₹60 Crores. The issue is priced at ₹146 per share. The minimum order quantity is 1000.

The IPO opens on Tue, Mar 17, 2026, and closes on Fri, Mar 20, 2026.

Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

How to apply in Novus Loyalty IPO through Angel One?

Angel One customers can apply online in Novus Loyalty IPO using UPI as a payment gateway. Angel One customers can apply in Novus Loyalty IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Novus Loyalty IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Novus Loyalty IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Angel One IPO Application Process Review for more detail.

When Novus Loyalty IPO will open?

The Speciality Medicines IPO opens on Fri, Mar 20, 2026 and closes on Tue, Mar 24, 2026.

What is the lot size of Novus Loyalty IPO?

The Novus Loyalty IPO opens on Tue, Mar 17, 2026 anNovus Loyalty IPO lot size is 1000, and the minimum amount required for application is ₹2,92,000, with 2 lots being the minimum application size.d closes on Fri, Mar 20, 2026.

How to apply for Novus Loyalty IPO?

You can apply in Novus Loyalty IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One , Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

When is Novus Loyalty IPO allotment?

The finalization of Basis of Allotment for Novus Loyalty IPO will be done on Monday, March 23, 2026, and the allotted shares will be credited to your demat account by Tue, Mar 24, 2026. Check the Novus Loyalty IPO allotment status.

When is Novus Loyalty IPO listing date ?

The Novus Loyalty IPO listing date is on Wed, Mar 25, 2026.