Novus Loyalty SME IPO GMP History
Novus Loyalty SME IPO has been listed on March 25, 2026 at a listing price of ₹146, against the issue price of ₹146 — a gain of ₹0 (+0%). The GMP peaked at ₹0 on 24 March 2026 and reached a low of ₹0 on 24 March 2026. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Novus Loyalty SME IPO raised ₹60 Cr. through its IPO at a price band of ₹139 to ₹146 per share, with a lot size of 1000 shares. The IPO was open for subscription from 17 Mar 2026 to 20 Mar 2026.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 25 Aug, 12:55 PM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 24 Mar 2026 | ₹ 0 | — | -- | — | — |
| 23 Mar 2026 | ₹ 0 | — | -- | — | — |
| 21 Mar 2026 | ₹ 0 | — | -- | — | — |
| 20 Mar 2026 | ₹ 0 | — | -- | — | — |
| 19 Mar 2026 | ₹ 0 | — | -- | — | — |
| 18 Mar 2026 | ₹ 0 | — | -- | — | — |
| 17 Mar 2026 | ₹ 0 | — | -- | — | — |
| 16 Mar 2026 | ₹ 0 | — | -- | — | — |
| 13 Mar 2026 | ₹ 0 | — | -- | — | — |
| 12 Mar 2026 | ₹ 0 | — | -- | — | — |
| 11 Mar 2026 | ₹ 0 | — | -- | — | — |
Novus Loyalty SME IPO dates
Key dates from opening to listing. Today is 30 October.
- Open 17 Mar 2026
- Close 20 Mar 2026
- Allotment 23 Mar 2026
- Refund/credit 24 Mar 2026
- Listing 25 Mar 2026
Novus Loyalty SME IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹146 |
|---|---|
| Listing gain / loss | +₹0 per share |
| Listing date | 25 Mar, 2026 |
| Actual listing price | ₹146 (+0%) |
Is Novus Loyalty SME IPO GMP reliable?
Grey market premium for Novus Loyalty SME IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the Novus Loyalty SME IPO full review for a fundamentals-based assessment before making any grey market trades.
Novus Loyalty SME IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for Novus Loyalty SME IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Novus Loyalty SME IPO
Novus Loyalty was established with the aim of providing customer engagement and loyalty solutions to businesses across sectors. Over the years, the company has built expertise in designing and managing reward programmes, helping brands improve customer retention and satisfaction. It is promoted by professionals with experience in marketing, technology, and consumer engagement, which has supported its steady growth and industry presence.
The company offers a range of services including loyalty programme management, reward fulfilment, and digital engagement solutions. Its business model is largely asset-light, generating revenue through service fees and programme management charges from corporate clients. Novus Loyalty primarily caters to sectors like banking, retail, and telecom, and has developed a scalable platform to serve both domestic and international clients.
Frequently asked
What is the GMP of Novus Loyalty SME IPO?
The current Grey Market Premium (GMP) of Novus Loyalty SME IPO is not yet started or active in the market.
What is the Kostak Price of Novus Loyalty SME IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Novus Loyalty SME IPO is not available.
What is the Subject to Sauda Price of Novus Loyalty SME IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of Novus Loyalty SME IPO?
Novus Loyalty SME IPO listed on March 25, 2026 at ₹146, against the issue price of ₹146 — a gain of +0%.
How did the GMP of Novus Loyalty SME IPO trend before listing?
The GMP of Novus Loyalty SME IPO was stable in its final days before listing. The GMP peaked at ₹0 on 24 March 2026. View the day-wise table above for the complete GMP history.
Explore Novus Loyalty SME IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
