Novus Loyalty was incorporated on June 24, 2011. The company is a technology-driven provider of loyalty and rewards solutions for sectors such as fintech, e-commerce, banking, FMCG, and real estate. Its scalable platform offers customizable, data-driven programs that enhance customer engagement, retention, and acquisition across digital and physical channels
| Bidding Dates |
|---|
| 17 Mar 2026 - 20 Mar 2026 |
| Subscription |
|---|
| 1.51x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,78,000 | 2 | 2 | 1000 | 4.1 M | ₹139 - ₹146 | 70.06 % | ₹572.7 M - ₹601.5 M | RHP DOC |
Novus Loyalty IPO SUBSCRIPTION STATUS
20 Mar '26Novus Loyalty IPO overall subscription rate was 1.51 times the total available shares
Novus Loyalty IPO retail subscription rate was 2.37 times in the retail segment
Novus Loyalty IPO non-institutional investor subscription rate was 2.04 times in the non-institutional investor category
Novus Loyalty IPO Qualified Institutional Bidder subscription rate was 0.75 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
20 Mar 2026 (Day 4) | 2.37x | 2.04x | 0.75x |
19 Mar 2026 (Day 3) | 1.8x | 1.27x | 0.48x |
18 Mar 2026 (Day 2) | 1.59x | 0.63x | 0.48x |
17 Mar 2026 (Day 1) | 1.35x | 0.59x | 0.41x |
Novus Loyalty FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| H1FY26 | 71.4 | 5.8 | 9.0 | 9.0 | 10.9% |
| FY25 | 104.6 | 3.6 | 3.3 | 2.9 | 5.4% |
| FY24 | 73.3 | 3.0 | 2.0 | 2.0 | 6.6% |
| FY23 | 59.6 | 0.5 | 2.7 | 2.0 | 3.8% |
Novus Loyalty IPO SUBSCRIPTION STATUS DETAILS
Novus Loyalty had 4.1 M shares on offer
Novus Loyalty IPO offer price was in the range ₹139 - ₹146
Novus Loyalty IPO minimum Investment was ₹278000
Novus Loyalty IPO issue size was ₹ 572.7 M - ₹ 601.5 M
Novus Loyalty had a minimum lot size of 1000 Shares per application
Novus Loyalty NUMBER OF SHARES ON OFFER
Novus Loyalty IPO IMPORTANT DATES
| Issue Open Date | 17 Mar 2026 |
| Issue close Date | 20 Mar 2026 |
| Allotment Date | 23 Mar 2026 |
| Refund Date | 24 Mar 2026 |
| Demat Account Credit Date | 24 Mar 2026 |
| Listing Date | 25 Mar 2026 |
| Listing on Exchange(s) | BSE |
| Novus Loyalty Allotment Status | Exchange/ Registrar |
Novus Loyalty IPO subscription opened on 17 Mar 2026, and closed on 20 Mar 2026
IPO allotment for Novus Loyalty was finalized on Monday, 23 Mar 2026
IPO listing for Novus Loyalty was on BSE on Wednesday, 25 Mar 2026
Novus Loyalty IPO LISTING GAINS
| Issue Price (adjusted) | 146.0 |
| Listing Open Price | 146.0 |
| Listing Close Price | 146.7 |
| Listing Gain% | 0.0% |
| Current Gain% | -0.8% |
Novus Loyalty Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Novus Loyalty Ltd. | 144.9 | 225.3 | 24.3 | 0.2 | 1.8 | 15.1 | 12.8 | 127.7 | 22.1 | 9.3 | 159 | 6 | 159 |
| Tata Technologies Ltd. | 879.2 | 35698 | 64.1 | -3.4 | 6 | 13.9 | 6.1 | 5680.1 | 7.3 | 546.6 | -19.3 | 13.7 | -18.7 |
| RateGain Travel Technologies Ltd. | 932.6 | 11047.3 | 45.6 | 3 | 4.7 | 9.7 | 5.5 | 1884.9 | 63.5 | 194.4 | -7 | 20.5 | 15.1 |
| Intellect Design Arena Ltd. | 727.8 | 10209.3 | 28.9 | 468 | 3.2 | 10.9 | 7.5 | 3160.8 | 22.7 | 345.4 | 3.8 | 25.2 | 0.1 |
| Capillary Technologies India Ltd. | 521.6 | 4150.9 | 98.6 | 5.1 | 5.1 | 4 | 748.3 | 22.3 | 52.4 | 294.5 | 5.3 | ||
| Aurionpro Solutions Ltd. | 730 | 4034.1 | 19.8 | 3.9 | 2.8 | 12 | 9 | 1440.4 | 20.7 | 209.3 | 12.4 | 36.9 | 5.1 |
Novus Loyalty INFORMATION ON IPO ISSUE
About Novus Loyalty
Novus Loyalty was incorporated on June 24, 2011. The company is a technology-driven provider of loyalty and rewards solutions for sectors such as fintech, e-commerce, banking, FMCG, and real estate. Its scalable platform offers customizable, data-driven programs that enhance customer engagement, retention, and acquisition across digital and physical channels
Object of the Issue
- Funding of expenditure towards investment in upgrading existing products and development of new products
- Business development and marketing activities including manpower hiring
- General corporate purposes and unidentified inorganic acquisition
Novus Loyalty - PROMOTERS
| Name |
|---|
| Deepak Tomar |
| Sweta Singh |
Novus Loyalty - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Deepak Tomar | Chairman & Managing Director |
| Sweta Singh | Whole-Time Director |
| Vibhore Rastogi | Executive Director & Chief Financial Officer |
| Sushma Samarth | Non- Executive Independent Director |
| Pooja Kansal | Non- Executive Independent Director |
| Rajesh Sureka | Non- Executive Independent Director |
Novus Loyalty Book Running Lead Manager
Smart Horizon Capital Advisors Private Limited
director@shcapl.com
Novus Loyalty Registrar to the issue
KFin Technologies Limited
novus.ipo@kfintech.com
Novus Loyalty Strengths
Comprehensive loyalty solutions
The company’s core strength lies in its end-to-end loyalty management platform designed for banks, fintechs, e-commerce platforms, and retail brands. It offers customizable and ready-to-use reward programs that integrate easily with existing systems to deliver tailored solutions across industries
Client relationship
The company primarily serves international markets with a strong client base in the UAE, USA, Australia, and Puerto Rico. It provides tailored loyalty solutions designed to meet the specific needs of clients across these diverse regions
Quality assurance, certification & compliance
The company maintains a dedicated QA process with comprehensive testing to ensure high software performance and a seamless user experience. It also holds multiple certifications, including ISO 27001:2022, CMMI Level 3, and PCI DSS, while following OWASP security guidelines to protect data and applications
Novus Loyalty Risks
Innovation risks
The company’s growth depends on its ability to continuously innovate and enhance its loyalty platform and solutions in a timely and cost-efficient manner. Failure to meet evolving customer expectations or adapt to technological changes may impact client retention, competitiveness, and overall financial performance
Security breach or data theft risks
The company’s IT systems process sensitive client and financial data, making them vulnerable to potential security breaches or unauthorized access. Any disruption or data breach could harm its reputation and lead to legal or regulatory consequences, despite maintaining strong security certifications and safeguards
Operational risks
The company relies on effective internal controls to ensure accurate financial reporting and prevent fraud or operational risks. Any weaknesses or failures in these controls could lead to financial misreporting, fraud, and negatively impact its business, reputation, and financial performance
IPO FAQs
This IPO consists of an offer for sale of up to Rs 12.0 crore, of 820,000 shares. It also consists of a fresh issue of Rs 48.2 crore.
The promoters of the company are Deepak Tomar and Sweta Singh.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 139.0 - 146.0.
The IPO application opens on Mar 17, 2026 and closes on Mar 20, 2026.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 278,000.0, the maximum value for this IPO is Rs 292,000.0.
This IPO will be allotted on Mar 23, 2026.
The refund will be credited to your account on Mar 24, 2026.
The allotted shares will be credited to your demat on Mar 24, 2026.
Novus Loyalty Ltd.’s shares listed on the stock exchanges on Mar 25, 2026.