SME
IPO ·
BSE SME
Novus Loyalty Ltd
Listed
Incorporated in 2011, Novus Loyalty is a technology-driven company that provides loyalty and rewards solutions for industries like Fintech, E-commerce, Software, Banking, FMCG, Real Estate, and more.
Issue details
Price band
₹139 – ₹146
Face value
₹10
Lot size
1,000 shares
Minimum investment
₹2,92,000
Issue size
₹60.15 Cr
Fresh issue
₹44.82 Cr
Offer for sale
₹11.97 Cr
Issue type
Book Built
Exchange
BSE SME
Key dates
Opens
17 Mar 2026
Closes
20 Mar 2026
UPI mandate cut-off
5:00 PM on 20 Mar 2026
Allotment
23 Mar 2026
Refunds
24 Mar 2026
Shares in demat
24 Mar 2026
Listing
25 Mar 2026
Subscription and listing
Subscription
1.46x
Listing price
₹146
Registrar
Kfin Technologies Ltd
Lead manager
Smart Horizon Capital Advisors
Subscription by category
Total
1.46x
Total applications
1,312
Anchor investors
Amount raised
₹16.50 Cr
Bid date
16 Mar 2026
50% lock-in ends
22 Apr 2026
Rest lock-in ends
21 Jun 2026
Listing day
Issue price
₹146
Open
₹146.00
High
₹149.95
Low
₹138.70
Day close
₹146.65
Listing gain at open
0.00%
Issue structure
Shares reserved per category and share of the total issue
QIB Shares Offered
19,40,000
47.09%
Anchor Investor Shares Offered
11,30,000
27.43%
QIB (Ex. Anchor) Shares Offered
8,10,000
19.66%
NII Shares Offered
5,86,000
14.22%
bNII > ₹10L
3,91,000
9.49%
sNII < ₹10L
1,95,000
4.73%
Retail Shares Offered
13,64,000
33.11%
Market Maker Shares Offered
2,30,000
5.58%
Total Shares Offered
41,20,000
100.00%
Finaccle’s quick read
Neutral
FY25 income up 42%, PAT up 21%, ROE 36.30%, post-issue P/E 19.56x.
A rules-based screen of growth, margins, debt and valuation, built from the offer document and data on Chittorgarh.com. It is for information only and is not investment advice or a recommendation to buy or sell. Read the RHP and speak to a SEBI-registered adviser before you apply.
About the company
Incorporated in 2011, Novus Loyalty is a technology-driven company that provides loyalty and rewards solutions for industries like Fintech, E-commerce, Software, Banking, FMCG, Real Estate, and more. The company offers a modern loyalty platform built with the latest technology. The company provides both customizable and ready-to-use program models, including point-based rewards, event-triggered campaigns, cashback systems, purchase-linked promotions, and digital vouchers. Its platform is flexible, easy to integrate with existing systems, and works across web, mobile apps, and physical stores for a smooth customer experience.
Founded
Promoters
Promoter holding
Financial performance
Period
PAT
ROE
36.30%
ROCE
40.64%
Debt / equity
—
PAT margin
8.13%
P/E post issue
19.56
Market cap
₹227.03 Cr
Use of IPO money
Funding of expenditure towards Investment in upgrading enhancement of and development of new products
₹13.00 Cr
Business Development and Marketing Activities including manpower hiring
₹9.62 Cr
General corporate purposes and Unidentified Inorganic Acquisitions
₹16.86 Cr
Issue Expenses
₹10.86 Cr
Strengths
✓
Revenue up 42% in FY25 to ₹104.63 Cr
✓
PAT up 21% in FY25 to ₹3.58 Cr
✓
ROE of 36.30% and ROCE of 40.64%
Risks to watch
!
SME platform: large lot size and thinner trading liquidity
!
Modest PAT margin of 8.13%
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Last updated:
Information is compiled from exchange notices and the company’s offer document. It is for general information only and is not investment advice or a recommendation to apply. Read the prospectus before investing.