What is the GMP of Novus Loyalty IPO today?

The Grey Market Premium (GMP) for Novus Loyalty IPO is currently ₹0. With an upper price band of ₹146, the estimated listing price is ₹146 per share, reflecting an expected listing gain of ~0%. Grey market premiums can fluctuate based on market sentiment and subscription demand.

What is the price band and lot size for Novus Loyalty IPO?

The price band for Novus Loyalty IPO is ₹139 to ₹146 per equity share. The minimum lot size is 1000 shares, which requires a minimum retail application investment of ₹1,46,000.

What are the important dates for Novus Loyalty IPO?

Novus Loyalty IPO opens for subscription on 2026-03-17T00:00:00 and closes on 2026-03-20T00:00:00. The basis of allotment is scheduled for 2026-03-23T00:00:00, and shares are expected to list on 2026-03-25T00:00:00 on BSE, NSE.

How can I check the allotment status for Novus Loyalty IPO?

You can check Novus Loyalty IPO allotment status on the registrar's official portal (KFin Technologies Limited) or through the official BSE and NSE IPO allotment status pages using your PAN number or Application number.

How to apply for Novus Loyalty IPO?

Investors can apply for Novus Loyalty IPO online through ASBA (Application Supported by Blocked Amount) via their internet banking account, or via UPI using authorized stockbroking platforms like Zerodha, Groww, Angel One, and Upstox.

When does the Novus Loyalty IPO open and close?

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

What is Novus Loyalty IPO price band?

The issue price band is ₹139.00 to ₹146.00 per equity share.

What is the Novus Loyalty IPO lot size?

The minimum lot size is 1000 shares per application.

What is the Novus Loyalty IPO allotment date?

The allotment is scheduled on 23 Mar 2026.

Novus Loyalty IPO Details - Dates, Price Band, Issue Size

All IPOs

Issue Size

60.15 Cr

Price Band

₹139.00 - ₹146.00

Lot Size

1000 Shares

Min Investment

₹2,92,000

GMP

₹0

Subscription

1.55x

₹62.47 Cr

17 Mar 2026

IPO Opens

COMPLETED

20 Mar 2026

IPO Closes

COMPLETED

23 Mar 2026

Basis of Allotment

COMPLETED

24 Mar 2026

Refunds

COMPLETED

24 Mar 2026

Demat Credit

COMPLETED

25 Mar 2026

Listing

COMPLETED

IPO Timeline

IPO OpensDONE

17 Mar 2026

IPO ClosesDONE

20 Mar 2026

Basis of AllotmentDONE

23 Mar 2026

RefundsDONE

24 Mar 2026

Demat CreditDONE

24 Mar 2026

ListingDONE

25 Mar 2026

About Novus Loyalty IPO

Novus Loyalty IPO open date is March 17, 2026 and the IPO will close on March 20, 2026. Novus Loyalty IPO is a Book build Issue. The company to raise around ₹60.15 crores via IPO that comprises fresh issue of ₹48.18 crores and offer for sale up to 8,20,000 equity shares with face value of ₹10 each.

Novus Loyalty IPO price band is ₹139 to ₹146 per share. The retail quota is 35%, QIB is 50%, and HNI is 15%. Novus Loyalty IPO to list on BSE on March 25, 2026. The allotment of Novus Loyalty IPO date is March 23, 2026.

The company reported revenue of ₹104.63 crores in 2025 against ₹73.61 crores in 2024. The company reported profit of ₹3.58 crores in 2025 against profit of ₹2.96 crores in 2024. As per the financials the IPO investors should apply the IPO for a long term.

IPO Details

Novus Loyalty IPO Details and Specifications
IPO Date	17 Mar 2026 to 20 Mar 2026
Face Value	₹10 Per Share
Price Band	₹139.00 - ₹146.00
Lot Size	1000 Shares
Total Issue Size	Approx 60.15 Cr 41,20,000 Equity Shares
Fresh Issue	Approx 48.18 Cr 33,00,000 Equity Shares
Offer for Sale	Approx 12.00 Cr 8,20,000 Equity Shares
Retail Portion	35.06%
Sale Type	Offer for sale
Issue Type	Bookbuilding IPO
Listing Date	25 Mar 2026
Listing At	BSE
Total Subscription Amount	₹62.47 Cr

Issue Reservation

Investor Category	Shares Offered	% Net Issue
QIB	19,40,000	49.87%
- Anchor	11,30,000	0.00%
- QIB (Ex. Anchor)	8,10,000	0.00%
NII	5,86,000	15.06%
- bNII > ₹10L	3,91,000	0.00%
- sNII < ₹10L	1,95,000	0.00%
Retail	13,64,000	35.06%
Market Maker	2,30,000	0.00%
Total	41,20,000	99.99%

IPO Lot Size

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

About Company

Novus Loyalty, founded in 2011, is one of the leading companies to offer loyalty and rewards solutions using its technology platform. The firm provides both ready-to-use and customizable solutions, such as point-based rewards, event-triggered campaigns, cashback systems, purchase-linked promotions, and digital vouchers.

Its services cater to various industries like Fintech, E-commerce, Software, Banking, FMCG, Real Estate, and more. Its platform offers both On-premises and SaaS (cloud-based) solutions with AI analytics. Novus loyalty has set its presence in both the domestic market, in states like Telangana, Haryana, Uttar Pradesh, Maharashtra, Punjab, Tamil Nadu, Rajasthan, Delhi, and Karnataka, and the international market in the UAE, USA, Australia, and Puerto Rico.

Contact Details

Novus Loyalty Ltd.

727, Udyog Vihar Phase V

Industrial Complex Dundahera,

Gurgaon, Haryana, 122016

9717154514

investor@novusloyalty.com

Visit Website

Registrar

KFin Technologies Limited

04067162222

novus.ipo@kfintech.com

Lead Managers

Smart Horizon Capital Advisors Pvt Ltd

Day-wise GMP Trend

Date & Time	GMP (₹)	Est. Listing Price	Est. Gain (%)	Est. Profit / Lot (₹)
24-Mar-2026 02:00 PM	+₹0	₹146	+0.00%	₹0
23-Mar-2026 02:00 PM	+₹0	₹146	+0.00%	₹0
21-Mar-2026 02:00 PM	+₹0	₹146	+0.00%	₹0
20-Mar-2026 05:00 PM	+₹0	₹146	+0.00%	₹0
19-Mar-2026 02:00 PM	+₹0	₹146	+0.00%	₹0
18-Mar-2026 02:00 PM	+₹0	₹146	+0.00%	₹0
17-Mar-2026 02:00 PM	+₹0	₹146	+0.00%	₹0
16-Mar-2026 02:00 PM	+₹0	₹146	+0.00%	₹0
14-Mar-2026 02:00 PM	+₹0	₹146	+0.00%	₹0
13-Mar-2026 01:00 PM	+₹0	₹146	+0.00%	₹0
12-Mar-2026 02:00 PM	+₹0	₹146	+0.00%	₹0
11-Mar-2026 02:00 PM	+₹0	₹146	+0.00%	₹0
10-Mar-2026 02:00 PM	+₹0	₹146	+0.00%	₹0

Subscription Status

Category	Subscription (x)	Shares Offered	Shares bid for	Total Amount (₹ Cr)
QIB (Ex. Anchor)	1.38x	8,10,000	11,15,000	₹16.28 Cr
NII	1.17x	5,86,000	6,84,000	₹9.99 Cr
bNII > ₹10L	1.31x	3,91,000	5,12,000	₹7.48 Cr
sNII < ₹10L	0.88x	1,95,000	1,72,000	₹2.51 Cr
Retail	1.82x	13,64,000	24,80,000	₹36.21 Cr
Total	1.55x	27,60,000	42,79,000	₹62.47 Cr

Objects of the Issue

01 Funding of expenditure towards Investment in upgrading enhancement of and development of new products : 13.00 Cr
02 Business Development and Marketing Activities including manpower hiring : 9.62 Cr
03 General corporate purposes and Unidentified Inorganic Acquisitions : 16.86 Cr
04 Issue Expenses : 10.86 Cr

Company Financials

Period Ended	30 SEPT 2025	31 MAR 2025	31 MAR 2024
Total Income	71.43	104.63	73.61
Profit After Tax	5.80	3.58	2.96
EBITDA	7.79	5.69	4.82
NET Worth	18.89	13.09	9.50
Reserves and Surplus	6.64	13.08	9.49
Total Borrowing	—	3.53	0.82

Amount in ₹ Crore

IPO Valuation - KPI

KPI	31 Mar 2023
ROCE	40.40%
Return on Net Worth (RoNW)	27.39%
PAT Margin	3.43%
EBITDA Margin	5.44%
Net Asset Value (NAV)	₹10.68
Earning Per Share (EPS)	₹2.93

Peer Comparison

Company Name	EPS (₹)	P/E (x)	NAV (₹)	RoNW (%)	Income (₹ Cr)
Pelatro Limited	5.64	53.72	77.64	6.31	-

IPO Anchor Investors

Anchor Investors Letter (PDF)

Promoters and Holding Pattern

Deepak Tomar, Sweta Singh are the company's promoters of Novus Loyalty.

Particular	Pre IPO	Post IPO
Promoter and Promoter Group	95.62%	70.05%
Others*	4.38%	29.95%

Strengths

The company provides a full-stack loyalty management platform covering reward points, cashbackprogrammes, digital vouchers, event-based campaigns, and purchase-linked promotions. This integrated approach allows businesses to manage customer engagement through a single technology platform.
The platform is designed to integrate easily with existing enterprise systems. Its modular and flexible architecture allows clients tocustomise loyalty programmes based on their business requirements and customer engagement strategies.
The company serves clients across international markets including theUAE, USA, Australia, and Puerto Rico, demonstrating its capability to deliver technology solutions across multiple regions and regulatory environments.
The company caters to a wide range of industries includingmid-sized commercial banks, fintech companies, e-commerce platforms, and retail brands, reducing dependence on a single sector and expanding its addressable market.
The company is led bypromoters with over 20 years of industry experience, providing strategic direction, operational expertise, and a strong understanding of the loyalty technology and digital engagement ecosystem.
The company continues to enhance its technology offerings by developing new products and upgrading existing solutions, including platforms such asPearl Perks (employee and partner incentives) and RubE-Com (e-commerce loyalty platform).
A dedicated quality assurance team conducts extensive testing across sandbox and production environments, ensuring the reliability, performance, and scalability of the company’s software solutions.

Risks

A significantportion of revenue comes from a single client. The top customer contributed ₹1,650.47 lakh (22.52%) of revenue in FY24, compared with ₹1,048.87 lakh (17.60%) in FY23, indicating rising concentration risk.
The company derives a large share of revenue from a limited client base.Top 5 customers contributed ₹4,714.85 lakh (64.32%) in FY24, while Top 10 customers accounted for ₹6,410.61 lakh (87.45%) of total revenue.
The companylargely operates on an order-by-order basis, meaning customers are not contractually obligated to continue business, which could lead to revenue fluctuations if orders decline or are delayed.
Operating in a technology-driven sector requires continuous upgrades and innovation.Failure to enhance the loyalty platform in response to evolving industry standards and customer expectations could reduce competitiveness.
The company processesfinancial and personal data for clients, exposing it to risks such as phishing, hacking, data theft, and advanced persistent cyber threats that could disrupt operations or damage reputation.
The company recorded negative cash flows in certain periods, includingnet cash used in financing activities of ₹(306.80) lakh in FY25, which could affect liquidity if sustained.
Some group entities have reported losses and negative net worth. For example,Atomiclaunch Solutions Pvt Ltd reported a loss of ₹(73.88) lakh in FY24 with net worth of ₹(74.30) lakh.

Frequently Asked Questions (FAQ)

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About Novus Loyalty IPO

IPO Details

Novus Loyalty IPO Details and Specifications
IPO Date	17 Mar 2026 to 20 Mar 2026
Face Value	₹10 Per Share
Price Band	₹139.00 - ₹146.00
Lot Size	1000 Shares
Total Issue Size	Approx 60.15 Cr 41,20,000 Equity Shares
Fresh Issue	Approx 48.18 Cr 33,00,000 Equity Shares
Offer for Sale	Approx 12.00 Cr 8,20,000 Equity Shares
Retail Portion	35.06%
Sale Type	Offer for sale
Issue Type	Bookbuilding IPO
Listing Date	25 Mar 2026
Listing At	BSE
Total Subscription Amount	₹62.47 Cr

Investor Category

Shares Offered

% Net Issue

QIB

19,40,000

49.87%

- Anchor

11,30,000

0.00%

- QIB (Ex. Anchor)

8,10,000

0.00%

NII

5,86,000

15.06%

- bNII > ₹10L

3,91,000

0.00%

- sNII < ₹10L

1,95,000

0.00%

Retail

13,64,000

35.06%

Market Maker

2,30,000

0.00%

Total

41,20,000

99.99%

Application

Lots

Amount

Individual investors (Retail) (Min)

2,000

₹2,92,000

Individual investors (Retail) (Max)

2,000

₹2,92,000

S-HNI (Min)

3,000

₹4,38,000

S-HNI (Max)

6,000

₹8,76,000

B-HNI (Min)

7,000

₹10,22,000

About Company

Contact Details

Novus Loyalty Ltd.

727, Udyog Vihar Phase V

Industrial Complex Dundahera,

Gurgaon, Haryana, 122016

9717154514

investor@novusloyalty.com

Visit Website

Date & Time

GMP (₹)

Est. Listing Price

Est. Gain (%)

Est. Profit / Lot (₹)

24-Mar-2026 02:00 PM

+₹0

₹146

+0.00%

₹0

23-Mar-2026 02:00 PM

+₹0

₹146

+0.00%

₹0

21-Mar-2026 02:00 PM

+₹0

₹146

+0.00%

₹0

20-Mar-2026 05:00 PM

+₹0

₹146

+0.00%

₹0

19-Mar-2026 02:00 PM

+₹0

₹146

+0.00%

₹0

18-Mar-2026 02:00 PM

+₹0

₹146

+0.00%

₹0

17-Mar-2026 02:00 PM

+₹0

₹146

+0.00%

₹0

16-Mar-2026 02:00 PM

+₹0

₹146

+0.00%

₹0

14-Mar-2026 02:00 PM

+₹0

₹146

+0.00%

₹0

13-Mar-2026 01:00 PM

+₹0

₹146

+0.00%

₹0

12-Mar-2026 02:00 PM

+₹0

₹146

+0.00%

₹0

11-Mar-2026 02:00 PM

+₹0

₹146

+0.00%

₹0

10-Mar-2026 02:00 PM

+₹0

₹146

+0.00%

₹0

Novus Loyalty IPO Details

About Novus Loyalty IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

IPO Anchor Investors

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the Novus Loyalty IPO open and close?

What is Novus Loyalty IPO price band?

What is the Novus Loyalty IPO lot size?

What is the Novus Loyalty IPO allotment date?

What is the Novus Loyalty IPO listing date?

What is the minimum investment required in Novus Loyalty IPO?

Join the discussion

Novus Loyalty IPO Details

About Novus Loyalty IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

IPO Anchor Investors

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the Novus Loyalty IPO open and close?

What is Novus Loyalty IPO price band?

What is the Novus Loyalty IPO lot size?

What is the Novus Loyalty IPO allotment date?

What is the Novus Loyalty IPO listing date?

What is the minimum investment required in Novus Loyalty IPO?

Join the discussion