About Novus Loyalty IPO
Novus Loyalty IPO is a book-building issue of ₹60.15 crore, which is a combination of the fresh issue of 0.33 crore shares worth up to ₹48.18 crore and an offer for sale (OFS) of 0.08 crore shares worth up to ₹11.97 crore. The price band for this issue is set at ₹139 to ₹146 per share and the lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail investor) is ₹2,92,000 (2,000 shares). This IPO will open for subscription from March 17 to 20, 2026, on the BSE SME platform with a tentative listing date fixed as March 25, 2026.
Company Background
Novus Loyalty Ltd., incorporated in 2011, is a technology-driven company offering advanced technology solutions for customer loyalty and rewards management in sectors like Fintech, E-commerce, Software, Banking, FMCG and Real Estate, among others.
It offers a contemporary and high-tech platform aimed at delivering solutions for customer retention and engagement. Novus has emerged as a versatile leader in the space by bridging the gap between brands and customers with data-driven rewards, serving both domestic conglomerates and an increasing number of international enterprise brands.
Operations & Product Range
Novus Loyalty Ltd. offers both custom and out-of-the-box program designs, such as points, events and cashback programs. Novus Loyalty’s cloud-based platform is very flexible, enabling easy integration with web, mobile and brick and mortar stores, thereby ensuring a seamless customer experience, purchase-based promotions and a range of digital vouchers.
Facilities & Capacity
The two main deployment options offered by Novus Loyalty Ltd. are On-Premises and SaaS (cloud-based). The on-premises deployment is deployed on the client servers, providing complete control over the data. This strategy is suitable for big businesses that require stringent security. On the other hand, the SaaS deployment is a scalable and subscription-based service. As of January 2026, the company is operating with a dedicated team of 50 employees.
Brands & Market Presence
Novus Loyalty Ltd. has a strong presence in both domestic and international markets. In the domestic market, the company caters to clients in Telangana, Haryana, Maharashtra, Delhi, Karnataka and many other states. In the international market, the company has a presence in the UAE, USA, Australia, Puerto Rico and so on, thereby showing its ability to cope with different regulatory systems and consumer behaviors in different parts of the world.
Revenue Streams & Business Model
- • SaaS subscription fees charged by clients using the cloud-based loyalty system, whether monthly or annual
- • One-off revenue generated by software installations and customized system integrations performed by the company
- • Revenue generated based on the volume of loyalty points being processed or vouchers being redeemed
- • Service fees charged for technical updates, security patches and management
Management & Shareholding
Novus Loyalty Ltd. is maintained by experienced and expert promoters who take care of decision-making. It has a strong equity structure and paid-up capital of ₹12.25 crore. Before the IPO, promoters held a dominant 95.62% stake in the company, which made them the authority in decision-making. However, after the IPO, their ownership will be diluted, although the existing promoters will still retain a significant portion of the shares.
Board & Key Management
The board and key management of Novus Loyalty Ltd. are led by Deepak Tomar (CEO) and Sweta Singh (Whole-Time Director), both seasoned industry veterans. The company also has independent directors like Rajesh Surekha and Sushma Samarth, who take care of strengthening the board and ensuring high standards of corporate governance. Financial operations are overseen by CFO Vibhore Rastogi, driving the firm's 43% CAGR.
Novus Loyalty IPO Details
| Detail | Description |
|---|---|
| IPO Date | 17 to 20 Mar, 2026 |
| Listing Date | Wed, Mar 25, 2026 |
| Face Value | ₹ 10 per share |
| Issue Price Band | ₹ 139 to ₹ 146 |
| Lot Size | 1,000 Shares |
| IPO Type | Fresh capital cum OFS |
| 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) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,22,50,200 shares |
| Share Holding Post Issue | 1,55,50,200 shares |
Novus Loyalty IPO Financial Information
Latest Revenue
71.43
₹ Crore
Profit After Tax
5.80
₹ Crore
Net Worth
18.89
₹ Crore
Total Borrowing
0.82
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2025 | 21.83 | 71.43 | 5.80 | 18.89 | 6.64 | — | |||
| 31 Mar 2025 | 14.81 | 104.63 | 3.58 | 13.09 | 13.08 | — | |||
| 31 Mar 2024 | 12.36 | 73.61 | 2.96 | 9.50 | 9.49 | 0.82 | |||
| 31 Mar 2023 | 13.38 | 59.61 | 0.55 | 6.54 | 6.53 | 3.53 | |||
| Amount in ₹ Crore | |||||||||
IPO Estimated Listing Return
Based on the IPO Price of ₹146 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹0, and a lot size of 1000 shares.
Novus Loyalty GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2026-03-25 | ₹146.00 | ₹0 | 2026-03-25 |
Novus Loyalty Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 36.30% |
| ROCE | 40.64% |
| Debt/Equity | - |
| RoNW | 30.73% |
| PAT Margin | 8.13% |
| EBITDA Margin | 10.91% |
| Price to Book Value | 9.47 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.93 | 7.47 |
| P/E (x) | 49.89 | 19.56 |
IPO Objective
- • Funding the capital expenditure towards investment in infrastructure development
- • Investment in marketing and business development activities
- • General corporate purposes
Conclusion
The Novus Loyalty IPO is an opportunity for investors to invest in a digitally agile firm with a proven global footprint and a high-growth SaaS (Software as a Service) model. With its expansion into high-demand sectors like fintech and AI-driven analytics, the company is well-positioned to scale. This issue will help in the expansion of the company in the untouched markets with the upgradation of technology; also, the proceeds will be used to enhance their marketing activities.
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Competitive Strengths
Expert promoters and an experienced management team that handles decision-making effectively
High-quality delivery and certification
Maintained a good relationship with clients in both the international and domestic markets
Download regulatory filings
Novus Loyalty IPO Timeline
| IPO Open Date | Tue, Mar 17, 2026 |
| IPO Close Date | Fri, Mar 20, 2026 |
| Tentative Allotment | Mon, Mar 23, 2026 |
| Initiation of Refunds | Tue, Mar 24, 2026 |
| Credit of Shares to Demat | Tue, Mar 24, 2026 |
| Tentative Listing Date | Wed, Mar 25, 2026 |
| Cut-off time for UPI mandate confirmation | - |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid 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 |