Novus Loyalty SME IPO
Novus Loyalty IPO — date, price band, GMP & allotment 2026
Novus Loyalty SME IPO opened for subscription from 17 March 2026 to 20 March 2026 and the shares are proposed to be listed on the BSE SME platform. The company was incorporated in 2011 and operates in the technology and software solutions sector. Its business model focuses on providing loyalty and rewards management platforms for businesses to improve customer engagement and retention. The company mainly serves sectors like fintech, e-commerce, banking and FMCG in India and international markets.
Stock price
Novus Loyalty is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 September.
- Open 17 Mar 2026
- Close 20 Mar 2026
- Allotment 23 Mar 2026
- Refund/credit 24 Mar 2026
- Listing 25 Mar 2026
Issue summary
The terms of the offer, as filed.
| IPO Dates | 17 to 20 Mar, 2026 |
|---|---|
| Price Band | ₹139 – ₹146 |
| Face Value | ₹10 |
| Lot Size | 1000 Shares |
| Issue Size | ₹60 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE SME |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 2,92,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 1000 shares at the ₹146 cut-off. The SME retail application is a fixed 2 lots; HNI starts at 3.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 2 | 2,000 | ₹2,92,000 |
| Retail (max) | 2 | 2,000 | ₹2,92,000 |
| HNI (min) | 3 | 3,000 | ₹4,38,000 |
Three years of numbers
All figures in ₹ crore, as reported in the Novus Loyalty offer document.
| Metric | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 21.83 | 14.81 | 12.36 | 13.38 |
| Total Income | 71.43 | 104.63 | 73.61 | 59.61 |
| Profit After Tax | 5.80 | 3.58 | 2.96 | 0.55 |
| EBITDA | 7.79 | 5.69 | 4.82 | 2.27 |
| NET Worth | 18.89 | 13.09 | 9.50 | 6.54 |
| Reserves and Surplus | 6.64 | 13.08 | 9.49 | 6.53 |
| Total Borrowing | 0.82 | 3.53 |
See how this IPO compares — view listing performance of all SME IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Novus Loyalty RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Novus Loyalty IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Post-Issue |
|---|---|
| EPS (₹) | ₹7.47 |
| P/E Ratio (x) | 19.56 |
| Market Cap at Offer Price (₹ Cr) | ₹113.36 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹146 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹50.34 Cr of the issue is earmarked to named objects.
About the company
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.
Interested in this IPO? Check the live subscription status or browse all upcoming SME IPOs.
9717154514
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Smart Horizon Capital Advisors
10 issues handled (2 mainboard, 8 SME)Best listing: Shankesh Jewellers (+11.1%). Weakest: Om Freight Forwarders (-39.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Novus Loyalty?
The current Grey Market Premium is ₹0.
What is the Novus Loyalty IPO price band?
₹139 to ₹146, on a face value of ₹10.
When is the allotment?
The basis of allotment is 23 March 2026, with listing on 25 March 2026.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every SME and Mainboard issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
