Novus Loyalty IPO To Open 17 March, Targets ₹60.15 Crore
- By Kotak News Desk
- 11 Mar 2026 at 1:24 PM IST
- Market News
- 4 minutes read
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Novus Loyalty will launch its ₹60.15-crore IPO on 17 March with a price band of ₹139–₹146 per share. The loyalty solutions provider plans to use the funds for product upgrades, marketing expansion, and corporate purposes.
Novus Loyalty, a loyalty and rewards solutions provider, will open its initial public offering (IPO) for subscription on 17 March. The public issue, valued at ₹60.15 crore, will close on 20 March.
The company submitted its red herring prospectus (RHP) to the Registrar of Companies on 6 March, marking the formal step toward listing its shares on the Bombay Stock Exchange – Small and Medium Enterprises (BSE-SME) platform.
What Are The Key Details Of The IPO?
The Novus Loyalty IPO will consist of a fresh issue of equity shares as well as an offer-for-sale (OFS) by promoters. Anchor investors will be able to bid a day earlier on 16 March.
Issue Size | ₹60.15 crore |
Fresh Issue | 33 lakh shares |
Offer for Sale | 8.2 lakh shares |
Price Band | ₹139 – ₹146 per share |
IPO Opens | 17 March |
IPO Closes | 20 March |
Allotment Finalisation | 23 March |
Tentative Listing Date | 25 March |
Listing Platform | BSE SME |
Promoters Deepak Tomar and Sweta Singh will each sell 4.1 lakh shares under the offer-for-sale.
How Will The Company Use IPO Proceeds?
A portion of the funds raised from the fresh issue will be used to enhance product offerings and expand the company’s business presence. Here is the breakdown of usage of funds:
Product upgrades and new product development | ₹13 crore |
Business development, marketing initiatives and manpower hiring | ₹9.6 crore |
General corporate purposes and inorganic acquisition | Remaining amount |
What Does Novus Loyalty Do?
Novus Loyalty provides data-driven loyalty and rewards programme solutions to businesses operating across several sectors, including fintech, e-commerce, banking, FMCG, real estate and software services.
Service offerings includes the following:
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Point-based reward programmes
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Event-triggered campaigns
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Cashback-based incentive models
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Purchase-linked promotional offers
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Digital voucher and coupon systems
The company offers both customisable and ready-to-deploy programme frameworks, allowing enterprises to implement loyalty programmes tailored to their customer base.
Among listed companies, Pelatro is considered the closest comparable player operating in a similar segment.
The company has reported growth in both revenue and profitability over the past financial year.
Revenue from Operations | ₹104.6 | ₹73.3 |
Net Profit | ₹3.6 | ₹2.96 |
Revenue increased 42.8% year-on-year, while profit rose about 21% during the same period.
For the six months ended September of the current financial year, Novus Loyalty reported revenue of ₹71.4 crore and a net profit of ₹5.8 crore.
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What Investors Should Watch Next?
Market players may watch the subscription levels among various investor categories once the issue is open for bidding.
The interest from retail investors, non-institutional investors and anchor participants can be regarded as an early sign of market interest in SME offerings.
Investors may also keep an eye on the company's growth trajectory post-listing, especially their ability to increase their client base and keep up the revenue growth in the loyalty and engagement solutions domain.
Sources:
Moneycontrol
ET
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