NL
Novus Loyalty Limited IPO
Loyalty & Rewards Platform · Fintech · SaaS · AI Analytics · E-commerce
📋 SME IPO
Fresh + OFS
BSE SME
₹146
Issue Price
₹60.15 Cr
Issue Size
Mar 25, 2026
Listing Date
₹227.03 Cr
Market Cap (Pre-IPO)
📅 IPO Timetable
All dates tentative🔓
IPO Opens
Tuesday, 17 March 2026
Bidding starts — apply before close
🔒
IPO Closes
Friday, 20 March 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Monday, 23 March 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Tuesday, 24 March 2026
Unallotted funds returned; shares credited to demat
🏷️
Listing on BSE SME
Wednesday, 25 March 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date17 March 2026 (Tue)
IPO Close Date20 March 2026 (Fri)
Listing Date25 March 2026 (Wed)
Face Value₹10 per share
Price Band₹139 to ₹146
Issue Price (Upper Band)₹146 per share
Issue TypeBook Build — Fresh + OFS
Lot Size1,000 shares
Total Issue Size41,20,000 shares (₹60.15 Cr)
Fresh Issue33,00,000 shares (₹48.18 Cr)
Offer for Sale (OFS)8,20,000 shares (₹11.97 Cr)
Market Maker Reservation2,30,000 shares (₹3.36 Cr)
Net Offered to Public38,90,000 shares (₹56.79 Cr)
Market MakerShreni Shares Ltd.
Pre-Issue Shares1,22,50,200
Post-Issue Shares1,55,50,200
Promoter Holding (Pre)95.62%
Market Cap (Pre-IPO)₹227.03 Cr
Listing ExchangeBSE SME
Lead ManagerSmart Horizon Capital Advisors Pvt. Ltd.
RegistrarKFin Technologies Ltd.
Employees~50 (as of Jan 31, 2026)
💰 Lot Size & Minimum Investment
At issue price ₹146| Investor Type | Lots | Shares | Amount |
|---|---|---|---|
| Retail — Minimum & Maximum | 2 | 2,000 | ₹2,92,000 |
| S-HNI (sNII) — Min | 3 | 3,000 | ₹4,38,000 |
| S-HNI (sNII) — Max | 6 | 6,000 | ₹8,76,000 |
| B-HNI (bNII) — Min | 7 | 7,000 | ₹10,22,000 |
⚠️ SME IPO Note: This is a BSE SME IPO. Retail investors can apply for a maximum of 2 lots only (2,000 shares = ₹2,92,000). Lot size is 1,000 shares; minimum bid is 2 lots.
👥 Investor Reservation
Out of 41,20,000 total shares47.09%
QIB (Total)
19,40,000 shares
Incl. anchor
27.43%
Anchor Investors
11,30,000 shares
QIB anchor portion
33.13%
Retail (RII)
13,65,000 shares
Max 2 lots per applicant
14.20%
NII / HNI
5,85,000 shares
sNII + bNII
💡 Market Maker: Shreni Shares Ltd. has been allocated 2,30,000 shares (5.58% of total issue) as market maker to ensure liquidity post-listing on BSE SME.
📈 Company Financials
Restated · ₹ Crore| Metric | H1 FY26 (Sep 25) | FY 2024–25 | FY 2023–24 | FY 2022–23 |
|---|---|---|---|---|
| Total Assets | 21.83 | 14.81 | 12.36 | 13.38 |
| Total Income | 71.43 | 104.63 | 73.61 | 59.61 |
| PAT | 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 & Surplus | 6.64 | 13.08 | 9.49 | 6.53 |
| Total Borrowings | — | — | 0.82 | 3.53 |
Revenue Growth
FY 2022–23₹59.61 Cr
FY 2023–24₹73.61 Cr
FY 2024–25₹104.63 Cr
H1 FY26 (Apr–Sep 2025)₹71.43 Cr
🎯 Key Performance Indicators
31.74%
ROE
FY 2024–25
40.40%
ROCE
FY 2024–25
3.43%
PAT Margin
FY 2024–25
5.44%
EBITDA Margin
FY 2024–25
36.30%
ROE (H1 FY26)
Sep 30, 2025
40.64%
ROCE (H1 FY26)
Sep 30, 2025
Nil
Debt/Equity
FY25 (Debt-Free)
8.13%
PAT Margin (H1)
Sep 30, 2025
⚖️ Valuation & EPS
Pre-IPO EPS
₹2.93
FY25 earnings + pre-issue shares
P/E: 49.89xPost-IPO EPS
₹7.47
Annualised H1 FY26 + post-issue shares
P/E: 19.56xPrice to Book Value
9.47x
At ₹146 (Sep 2025 book)
Market Cap (Pre-IPO)
₹227.03 Cr
At issue price ₹146
ℹ️
Pre-IPO EPS uses pre-issue shares (1,22,50,200) and FY25 earnings. Post-IPO EPS uses post-issue shares (1,55,50,200) and annualised H1 FY26 earnings (Sep 30, 2025). Indicative figures from the RHP.
🎯 Objects of the Issue
Net proceeds utilisation1
Investment in upgrading, enhancement and development of new products
₹13.00 Cr
2
Business development and marketing activities including manpower hiring
₹9.62 Cr
3
General corporate purposes and unidentified inorganic acquisition
Balance
Total (items 1 & 2)
₹22.62 Cr
🏢 About Novus Loyalty Limited
Est. 2011 · Gurgaon, HaryanaIncorporated in 2011, Novus Loyalty is a technology-driven loyalty and rewards solutions company serving industries including Fintech, E-commerce, Software, Banking, FMCG, and Real Estate. It offers a modern loyalty platform built on the latest technology stack with AI-powered analytics.
The platform supports point-based rewards, event-triggered campaigns, cashback systems, purchase-linked promotions, and digital vouchers. It is available as both On-Premises and SaaS (cloud-based) models, integrating seamlessly across web, mobile apps, and physical stores. The company operates in India (Telangana, Haryana, Maharashtra, Delhi, Karnataka and more) and internationally in the UAE, USA, Australia, and Puerto Rico.
Delivery Models
🏢
On-Premises
Installed on client servers or private cloud — full data control for large enterprises
☁️
SaaS (Cloud-Based)
Subscription model — quick setup, scalable, ideal for fast-growing businesses
Competitive Strengths
🧩Comprehensive loyalty solutions — points, cashback, vouchers, event-triggered campaigns
🤝Experienced promoters and management team with deep domain expertise
✅Quality assurance and international quality certifications
🌐Active international presence — UAE, USA, Australia, Puerto Rico
Company Promoters
DT
Mr. Deepak Tomar
Promoter, Novus Loyalty Limited
SS
Ms. Sweta Singh
Promoter, Novus Loyalty Limited
📅 Key Dates
IPO Opens17 Mar 2026
IPO Closes20 Mar 2026
Allotment23 Mar 2026
Refund & Credit24 Mar 2026
Listing Day25 Mar 2026
💡 Quick Summary
Price Band₹139 – ₹146
Issue Price₹146 / share
Lot Size1,000 shares
Min. Investment (Retail)₹2,92,000
Issue Size₹60.15 Cr
Fresh Issue₹48.18 Cr
OFS₹11.97 Cr
ListingBSE SME
🏦 Registrar & Lead Manager
Lead Manager
Smart Horizon Capital Advisors Pvt. Ltd.
Market Maker
Shreni Shares Ltd.
📍 Company Address
Novus Loyalty Limited
727, Udyog Vihar Phase V,
Industrial Complex Dundahera,
Gurgaon, Haryana – 122016
📞 +91-9717154514
investor@novusloyalty.com
727, Udyog Vihar Phase V,
Industrial Complex Dundahera,
Gurgaon, Haryana – 122016
📞 +91-9717154514
investor@novusloyalty.com
🛡️ Regulatory Note: IPO investments are subject to SEBI regulations. Always read the RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️
Disclaimer: This page presents publicly available information from the Novus Loyalty IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
📊
Track Novus Loyalty IPO 2026: Date, Price Band, Lot Size, GMP and Allotment GMP
Check real-time grey market premium, daily GMP history & estimated listing price.
Check GMP →