Novus Loyalty IPO To Open 17 March, Targets ₹60.15 Crore

By Kotak News Desk
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11 Mar 2026 at 1:24 PM IST
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Market News
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4 minutes read

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Summary

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:

Point-based reward programmes
Event-triggered campaigns
Cashback-based incentive models
Purchase-linked promotional offers
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

This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their own research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.

Investments in securities market are subject to market risks. Read all the related documents carefully before investing. Brokerage will not exceed SEBI prescribed limit. The securities are quoted as an example and not as a recommendation. SEBI Registration No-INZ000200137 Member Id NSE-08081; BSE-673; MSE-1024, MCX-56285, NCDEX-1262

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