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Novus Loyalty IPO
Price Band
₹139.0–146.0
Issue Size
₹60.15 Cr
Lot Size
1,000 shares
Min Investment
₹292,000
2 LOTS MIN
GMP
—
Issue Price
₹146.0
Novus Loyalty IPO AI Summary
- Novus Loyalty IPO is listed on BSE SME in the Web based media and service sector.
- Price band: ₹139.0–₹146.0 per share, lot size 1,000 shares (min. investment ₹292,000, 2 lots minimum).
- Subscription window: 17 Mar–20 Mar 2026, listing on 25 Mar 2026.
Novus Loyalty is set to launch its IPO with a price band of ₹139.0 to ₹146.0, aiming to raise ₹60.15 Cr. The company's strong focus on loyalty solutions and a robust growth trajectory in revenue and profit make it a noteworthy candidate in the web-based media and service sector.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Novus Loyalty IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in 2011, Novus Loyalty is a technology-driven company that provides loyalty and rewards solutions for industries like Fintech, E-commerce, Software, Banking, FMCG, Real Estate, and more. The company offers a modern loyalty platform built with the latest technology. The company provides both customizable and ready-to-use program models, including point-based rewards, event-triggered campaigns, cashback systems, purchase-linked promotions, and digital vouchers. Its platform is flexible, easy to integrate with existing systems, and works across web, mobile apps, and physical stores for a smooth customer experience. It offers both On-premises with infrastructure and SaaS (software as a service) models along with AI powered analytics to its clients. On-Premises: Installed on the client’s servers or private cloud for full data control — ideal for large businesses with strict security needs. SaaS (Cloud-based): Subscription model that’s easy to set up and manage — perfect for businesses that need a quick and scalable solution. Market presence: The company operates in both Indian and international markets. In the domestic market, it serves customers across the states of Telangana, Haryana, Uttar Pradesh, Maharashtra, Punjab, Tamil Nadu, Rajasthan, Delhi, and Karnataka while it serves customers globally in UAE, USA, Australia, and Puerto Rico. Competitive Strengths Comprehensive Loyalty Solutions Experienced promoters and management team Quality assurance and quality certification Clients in international markets
Company Financials (₹ Cr)
As of 2025-09-30
| Period Ended | 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 |
Key Ratios
EPS
₹2.93
NAV
₹10.68
ROE
31.74%
ROCE
40.40%
RoNW
27.39%
P/B Value
13.67
P/E Ratio
49.89
Market Cap
₹227.03 Cr
PAT Margin
3.43%
Promoters
Deepak Tomar and Sweta Singh
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding of expenditure towards Investment in upgrading enhancement of and development of new products 13.00 2 Business Development and Marketing Activities including manpower hiring 9.62 3 General corporate purposes and Unidentified Inorganic Acquisitions 16.86 4 Issue Expenses 10.86 Total 50.34
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹59.61 Cr in the year ending 31 Mar 2023, increasing to ₹73.61 Cr by 31 Mar 2024, then rising further to ₹104.63 Cr by 31 Mar 2025. However, in the most recent period ending 30 Sep 2025, total income decreased to ₹71.43 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹0.55 Cr in the year ending 31 Mar 2023, increasing to ₹2.96 Cr by 31 Mar 2024. This continued to grow to ₹3.58 Cr by 31 Mar 2025, and further increased to ₹5.80 Cr by 30 Sep 2025, indicating a positive trend in profitability over the periods.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of IPO shares before they are listed on the stock exchange. Grey market premium (GMP) indicates the expected listing price of the IPO based on demand and supply in this unofficial market. A positive GMP suggests strong demand, while a negative GMP indicates weak demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their financial goals and risk tolerance. It's important to consider the company's growth potential and market conditions before making a decision.
Who May Want to Wait
Investors who prefer stable, established companies with predictable earnings may want to avoid this IPO, as it operates in a competitive and rapidly evolving sector.
IPO Timeline, Explained
The IPO process includes several key dates: the opening date for subscription is 17 March 2026, closing on 20 March 2026. Allotment of shares will be done by 23 March 2026, with the listing date set for 25 March 2026.
Listing Gains — The Risk
Listing gains refer to the difference between the issue price of an IPO and its price on the first day of trading. While some IPOs see significant listing gains, others may not perform as expected. Factors influencing listing performance include market conditions, investor sentiment, and the company's financial health.
This evaluation is generated from Novus Loyalty's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Novus Loyalty IPO?
The price band of Novus Loyalty IPO is ₹139.0–₹146.0 per share.
When does Novus Loyalty IPO open and close?
Novus Loyalty IPO opens on 17 March 2026 and closes on 20 March 2026.
When does Novus Loyalty IPO list on the stock exchange?
Novus Loyalty IPO listed on 25 March 2026 at ₹146.0.
What is the lot size for Novus Loyalty IPO?
The lot size for Novus Loyalty IPO is 1000 shares, requiring a minimum investment of ₹292,000 (2 lots).
What is the price band for Novus Loyalty's IPO?
The price band for Novus Loyalty's IPO is ₹139.0 to ₹146.0.
What is the minimum investment required?
The minimum investment required is ₹292,000, based on a lot size of 1000 shares.
When does the IPO open and close for subscription?
The IPO opens on 17 March 2026 and closes on 20 March 2026.
What is the listing date for the shares?
The listing date for the shares is 25 March 2026.
What does GMP mean?
GMP stands for grey market premium, which indicates the expected price of an IPO share in the unofficial market before it is listed.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
17 Mar 2026
Close
20 Mar 2026
Allotment
23 Mar 2026
Listing
25 Mar 2026
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