Novus Loyalty's initial public offering opens Tuesday. The company aims to raise Rs 60 crore through its IPO on the BSE SME platform. The issue includes a fresh share issue and an offer for sale by existing shareholders. Investors can subscribe until March 20. Shares are expected to list on March 25.

Novus Loyalty IPO: Check price band, GMP, subscription and other details

Synopsis

Novus Loyalty's initial public offering opens Tuesday. The company aims to raise Rs 60 crore through its IPO on the BSE SME platform. The issue includes a fresh share issue and an offer for sale by existing shareholders. Investors can subscribe until March 20. Shares are expected to list on March 25.

The IPO of Novus Loyalty will open for subscription on Tuesday as the company looks to raise about Rs 60 crore through its initial public offering on the BSE SME platform. The issue is a book-built offer of Rs 60 crore, comprising a fresh issue of 0.33 crore shares worth Rs 48.18 crore and an offer for sale of 0.08 crore shares worth Rs 11.97 crore by existing shareholders.

The issue will remain open for bidding until March 20, with the basis of allotment expected to be finalised on March 23. Shares are scheduled to list on the BSE SME platform on March 25. The company has fixed the price band at Rs 139-146 per share. Investors can bid for a minimum of 2,000 shares, translating into a minimum investment of about Rs 2.92 lakh at the upper end of the price band.

Ahead of the IPO opening, the company raised Rs 16.5 crore from anchor investors on March 16. Grey market signals remain muted. The IPO is currently commanding a grey market premium (GMP) of around 0%, indicating expectations of a largely flat listing.

The public offer includes a market maker reservation of 2.30 lakh shares, while the remaining shares are allocated across investor categories. About 47% of the issue is reserved for qualified institutional buyers, 14.2% for non-institutional investors, and 33.1% for retail investors.

Founded in 2011, Novus Loyalty provides technology-driven loyalty and rewards programme solutions to companies across industries including fintech, e-commerce, banking, FMCG, software and real estate. Its platform enables businesses to run customer engagement initiatives such as point-based reward systems, cashback programmes, event-triggered campaigns and purchase-linked promotions.

Live Events

The company offers its platform through both on-premise deployment and software-as-a-service (SaaS) models, allowing enterprises to integrate loyalty programmes across web platforms, mobile applications and physical retail channels. The platform also incorporates analytics tools designed to help businesses track customer behaviour and campaign performance.

Novus Loyalty serves clients across multiple Indian states including Telangana, Haryana, Maharashtra, Uttar Pradesh and Tamil Nadu. It also has an international presence with clients in markets such as the UAE, the United States, Australia and Puerto Rico. As of January 2026, the company had around 50 employees.

Financially, the company has reported growth in recent years. For FY25, Novus Loyalty reported total income of Rs 104.63 crore and profit after tax of Rs 3.58 crore. For the six months ended September 2025, it posted income of Rs 71.43 crore and net profit of Rs 5.8 crore, indicating improved profitability during the current financial year.

The company plans to utilise the proceeds from the fresh issue primarily for product development and technology upgrades, business development and marketing initiatives, and general corporate purposes.

Smart Horizon Capital Advisors is the book-running lead manager to the issue, while Kfin Technologies is acting as the registrar. Shreni Shares will serve as the market maker for the IPO.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

(You can now subscribe to our ETMarkets WhatsApp channel)

(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

...moreless

(You can now subscribe to our ETMarkets WhatsApp channel)

Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.

Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

...moreless

Iran says Hormuz open for all but enemies. Too early for India to celebrate?

Tata Power losing nearly INR100 crore a month as Gujarat drags feet on deal

AI is reshaping lending, and why it’s bad news for traditional banks

Why new law to avoid a Go First repeat fails to calm global aircraft lessors

Stock Radar: Tata Consumer Products takes support above the lower band of symmetrical triangle formation; time to buy?