Novus Loyalty IPO

Listed SME
Open Mar 17
Close Mar 20
Allotment Mar 23
Refund Mar 24
Listing Mar 25

Market Sentiment

Grey Market Premium What is GMP?
+Rs 0
+0.0%
Est. Listing: Rs 146
Updated: Mar 11, 2026 12:33 pm
View Full GMP History →
Subscription Status
QIB
1.38x
NII
1.12x
bNII (>10L)
1.90x
sNII (2-10L)
0.88x
Retail
1.82x
Total
1.51x
Updated: Mar 20, 2026 5:02 pm IST
Analysis Score 37 / 100
Avoid
Data: 78%
GMP Score 40
Subscription Score 25
Financial Health 70
Score updates live as GMP/subscription change. For information only — not investment advice.

IPO Details

Issue Price₹139-146 per equity share
Face Value₹10 Per Equity Share
Lot Size 2000 shares (Min ₹2,92,000)
Total Issue Size ₹60.15 crore
Fresh Share₹48.18 crore
Offer For Sale₹11.97 crore
Issue TypeBook build Issue
Lead ManagerSmart Horizon Capital Advisors Pvt.Ltd.
RegistrarKfin Technologies Ltd.
Listing atBSE
BSE Code7637
ISIN
Listing Price₹146.00
Listing Gain+0.00%

IPO Reservation

Category Shares Offered Shares %
QIB8,10,00029.35%
NII (HNI)5,85,00021.20%
bNII > ₹10L3,91,00014.17%
sNII < ₹10L1,95,0007.07%
Retail13,65,00049.46%
Anchor11,30,00040.94%

Market Lot Size

Category Lots Shares Amount (₹)
Retail Minimum 2 2,000 ₹2,92,000
Retail Maximum 2 2,000 ₹2,92,000
S-HNI Minimum 3 3,000 ₹4,38,000
S-HNI Maximum 6 6,000 ₹8,76,000
B-HNI Minimum 7 7,000 ₹10,22,000
Budget to Lots Calculator

Financial Analysis

Financial Data
EPS (Pre)
Rs 2.93
ROE
31.74%
ROCE
40.40%
RoNW
27.39%
EBITDA Margin
5.44%
NAV/Share
Rs 10.68
Revenue Growth
42.14%
Profit Margin
3.42%
Financial Performance
Metric 2023 2024 2025 Sep 2025
Revenue 59.61 73.61 104.63 71.43
Expense 58.81 69.56 99.57 63.79
Profit (PAT) 0.55 2.96 3.58 5.80
Total Assets 13.38 12.36 14.81 21.83
Values in Crores (₹)
Promoters & Holding Pattern

Promoters: Deepak Tomar and Sweta Singh

Shareholding No. of Shares Holding %
Promoter Holding Pre Issue 1,22,50,200 95.62%

Strengths & Risks

Strengths
  • Revenue grew 42% in the latest reported year.
  • Strong return on equity — 32%.
  • Mostly fresh capital — proceeds fund the company's growth, not an exit.
Risks & Concerns

No major red flags in the available data.

Auto-generated from live GMP, subscription, valuation and financial data. Informational only — not investment advice. Always read the RHP before applying.

Company Information

About Novus Loyalty

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.

Objects of the Issue
Purpose Amount (Cr)
Funding of expenditure towards Investment in upgrading enhancement of and development of new products 13.00
Business Development and Marketing Activities including manpower hiring 9.62
General corporate purposes and unidentified inorganic acquisition -

Resources & Documents

Anchor Investors
Anchor Bidding Date
March 16, 2026
Shares Offered to Anchors
11,30,000
Lock-in End (30 Days, 50%)
April 22, 2026
Lock-in End (90 Days, 50%)
June 21, 2026
Company Contact Information

Novus Loyalty Ltd., 727, Udyog Vihar Phase V, Industrial Complex Dundahera,, Gurgaon, Haryana, 122016

Novus Loyalty IPO — Quick Take

Novus Loyalty has set a price band of Rs 139–Rs 146 per share for an issue size of Rs 60 crore. The stock listed flat against its issue price.

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.

The issue is promoted by Deepak Tomar and Sweta Singh with Smart Horizon Capital Advisors Pvt.Ltd. acting as lead manager. Net proceeds will primarily be used towards Funding of expenditure towards Investment in upgrading enhancement of and development of new products (Rs 13 crore) and Business Development and Marketing Activities including manpower hiring (Rs 10 crore).

Current grey market activity shows a flat premium, indicating muted unofficial demand. Final subscription data records overall subscription at 1.51x, retail at 1.82x, QIB at 1.38x, NII at 1.12x.

On fundamentals, the company is posting revenue growth of 42.1%, a profit margin of 3.4%, return on equity of 31.7% in its most recent reported period. Listed peers in this segment include Pelatro Limited (P/E 53.72x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.

Our data-driven engine currently flags this issue as an Avoid view — key indicators are weak enough that the risk-reward looks unfavourable for now. Past performance does not predict future returns — review the price chart and peer comparison below before trading.

Frequently Asked Questions

The price band of Novus Loyalty IPO is Rs 139 to Rs 146 per share. Face value is Rs 10 per share.

The total issue size of Novus Loyalty IPO is Rs 60 crore, comprising fresh issue of Rs 48 crore and offer for sale (OFS) of Rs 12 crore.

Retail investors must apply for a minimum of 1 lot of 2000 shares, requiring an investment of Rs 2,92,000.

Novus Loyalty IPO opens for subscription on March 17, 2027 and closes on March 20, 2027. Anchor investor bidding is scheduled for March 16, 2026.

The expected allotment date for Novus Loyalty IPO is March 23, 2026. Refunds for unsuccessful applicants are expected on March 24, 2026.

Novus Loyalty IPO is scheduled to list on March 25, 2026 on BSE. BSE script code: 7637, ISIN: –.

The current GMP (Grey Market Premium) of Novus Loyalty IPO is +Rs 0 (+0.0% over issue price). GMP is an unofficial grey market indicator and may change through the subscription window. See the GMP chart on this page for the full trend.

Novus Loyalty IPO is currently subscribed 1.51 times overall — retail at 1.82x, QIB at 1.38x, NII at 1.12x. Live subscription data updates multiple times per day on open-issue days.

Based on the current retail subscription of 1.82x for Novus Loyalty IPO, the estimated retail allotment probability is approximately 54.9%. This is a high probability of allotment.

The registrar for Novus Loyalty IPO is Kfin Technologies Ltd.. After the allotment date, you can check your allotment status on the registrar's official website by entering your PAN, application number, or demat account details. Allotment status is also available on the BSE and NSE websites.

The book running lead manager(s) for Novus Loyalty IPO are Smart Horizon Capital Advisors Pvt.Ltd..

The promoter(s) of Novus Loyalty are Deepak Tomar and Sweta Singh.

Novus Loyalty IPO GMP — What It Means

The latest grey market premium for Novus Loyalty IPO is ₹0 (+0.0%). GMP is an unofficial, dealer-quoted figure that hints at expected listing-day demand — it is not a guaranteed listing price. For Novus Loyalty it should be read alongside the subscription numbers and the company's fundamentals, since grey-market premiums can swing sharply during the bidding window.

See the full Novus Loyalty GMP history and trend, or learn how grey market premium works and how reliable it is.

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