Bookbuilding IPO | ₹60 Cr | Listed at BSE SME | Tue, Mar 17, 2026 - Fri, Mar 20, 2026
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 Open
Tue, Mar 17, 2026
IPO Close
Fri, Mar 20, 2026
Issue Price
₹146 per share
Market Cap (Pre-IPO)
₹227.03 Cr
| IPO Date | 17 to 20 Mar, 2026 |
| Listed on | 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 Shreni Shares Ltd. (agg. up to ₹3 Cr) |
| 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 |
Novus Loyalty IPO comprises a total issue size of 41,20,000 shares. The net offer to the public is 38,90,000 shares, after excluding 2,30,000 shares allotted on a firm basis. Of the Net offer 19,40,000 (49.87%) are allocated to QIB, 5,86,000 (15.06%) allocated to NII 13,64,000 (35.06%) allocated to RII.
| 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% | 100.00% |
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 |
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 |
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.
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
| 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 | ||||
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 |
| 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 |
| 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. |
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.
| # | 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.) | 4.73 |
| Total | 10.86 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹146.00 |
| Open | ₹146.00 |
| Low | ₹138.70 |
| High | ₹149.95 |
| Last Trade | ₹146.65 |
Lead Manager Reports
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.
Zerodha customers can apply online in Novus Loyalty IPO using UPI as a payment gateway. Zerodha customers can apply in Novus Loyalty IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Novus Loyalty IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Novus Loyalty IPO opens on Tue, Mar 17, 2026 and closes on Fri, Mar 20, 2026.
Novus 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.
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 Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
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.
The Novus Loyalty IPO listing date is on Wed, Mar 25, 2026.
