Novus Loyalty Ltd is launching a ₹60.15 crore SME IPO on BSE SME from March 17–20, 2026, offering 41.20 lakh equity shares at ₹139–₹146 per share (lot size 1,000 shares), with ₹45 crore fresh issue for product development and marketing, plus ₹12 crore OFS by promoters, targeting loyalty & rewards solutions for retail brands.
Novus Loyalty IPO – Complete Details
|
Parameter |
Details |
|
IPO Size |
₹60.15 crore (41,20,000 shares @ ₹10 FV) |
|
Fresh Issue |
30,70,000 shares (₹45 crore) – funds to company |
|
Offer for Sale |
8,20,000 shares (₹12 crore) – promoter exit |
|
Price Band |
₹139 – ₹146 per share |
|
Lot Size |
1,000 shares (min retail: 2 lots = 2,000 shares) |
|
Min Investment |
₹2,92,000 (retail), ₹4,38,000 (sNII), ₹10,22,000 (bNII) |
|
IPO Dates |
17–20 March 2026 |
|
Anchor Date |
16 March 2026 (11,30,000 shares) |
|
Allotment |
23 March 2026 |
|
Listing |
25 March 2026 on BSE SME |
|
Quotas |
Retail 33.13%, NII 14.20%, QIB 19.66%, Anchor 27.43% |
Use of Fresh Issue Proceeds:
- ₹13 crore: Product development & upgrades
- ₹9.62 crore: Business development & marketing
- Balance: General corporate purposes
Business & Financial Snapshot
What They Do: Loyalty & rewards platform providing white-label solutions for retail brands – points programs, customer engagement, redemption platforms.
Company Financials (Restated)
|
Period Ended |
30 Sep 2025 |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
21.83 |
14.81 |
12.36 |
13.38 |
|
|
71.43 |
104.63 |
73.61 |
59.61 |
|
|
5.80 |
3.58 |
2.96 |
0.55 |
|
|
7.79 |
5.69 |
4.82 |
2.27 |
|
|
18.89 |
13.09 |
9.50 |
6.54 |
|
|
6.64 |
13.08 |
9.49 |
6.53 |
|
|
0.82 |
3.53 |
|||
|
Amount in ₹ Crore |
||||
Growth Drivers: Retail digitalization, customer retention tech, expanding merchant network for reward redemptions.
Strengths of Novus Loyalty IPO
- Digital retail tailwinds: Loyalty programs critical for customer retention in competitive FMCG/retail
- 42% revenue growth FY25 validates scalable SaaS model with recurring revenue
- SME size ₹60 crore typically sees strong subscription from retail-heavy investor base
- Product upgrade allocation ₹13 crore positions for enterprise clients and new features
- Marketing push ₹9.62 crore accelerates merchant network and brand partnerships
Risks of Novus Loyalty IPO
- High retail minimum ₹2.92 lakh limits small investor participation (2 lots mandatory)
- ₹12 crore promoter OFS signals partial exit at listing
- Thin PAT margins (~3–5%) despite revenue growth; profitability scaling unproven
- BSE SME listing means lower liquidity vs mainboard; exit challenges
- Customer concentration risk – dependent on few large retail chain partnerships
How To Apply for the IPO ?
- Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of IPO?
Steps to check IPO allotment status on JM Pro app:
- Log in to the JM Pro app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
JM Financial Services will notify you of your IPO allotment status via push notification and email
FAQs
1. What are Novus Loyalty IPO dates and price band?
Opens 17 March 2026, closes 20 March 2026. Price band ₹139–₹146 per share, lot size 1,000 shares. Retail minimum 2 lots (₹2,92,000).
2. What is the minimum investment for Novus Loyalty IPO?
Retail: ₹2,92,000 (2 lots = 2,000 shares). sNII: ₹4,38,000 (3 lots). bNII: ₹10,22,000 (7 lots). High entry barrier for small investors.
3. When will Novus Loyalty shares list and what is GMP?
Listing on BSE SME: 25 March 2026. GMP data unavailable at writing; check live updates closer to listing for grey market premium.
4. How will IPO proceeds be used by Novus Loyalty?
₹13 crore for product development/upgrades, ₹9.62 crore for business development/marketing, balance for general corporate purposes.
5. Is Novus Loyalty suitable for long-term investment?
High-risk SME with digital retail exposure. Strong revenue growth (42% FY25) but thin margins (3–5%). Better for listing gain traders given promoter OFS and SME liquidity risks.
