Novus Loyalty IPO
Novus Loyalty IPO Details
-
Open Date
17 Mar 2026
-
Close Date
20 Mar 2026
-
Listing Date
25 Mar 2026
- IPO Price Range
₹ 139 to ₹146
- IPO Size
₹ 60.15 Cr
- Listing Exchange
BSE SME
Novus Loyalty IPO Timeline
Novus Loyalty IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 17-Mar-2026 | 0.76 | 0.45 | 1.04 | 0.83 |
| 18-Mar-2026 | 0.89 | 0.09 | 1.22 | 0.88 |
| 19-Mar-2026 | 0.89 | 0.58 | 1.38 | 1.06 |
| 20-Mar-2026 | 1.38 | 1.17 | 1.82 | 1.55 |
Last Updated: 20 March 2026 6:15 PM by 5paisa
Novus Loyalty is an AI-driven loyalty platform headquartered in Gurugram, India, founded in 2011. It helps enterprises, banks, fintechs, and B2B/B2C brands automate rewards, boost customer retention, and drive measurable growth. The platform supports tiered loyalty, points, cashback, referrals, and digital wallets across industries including banking, retail, e-commerce, healthcare, and travel. Trusted by 400+ enterprises, it processes over 100 million transactions per month and is rated #1 for Loyalty on G2.
Established in: 2011
Managing Director: Deepak Tomar
Novus Loyalty Objectives
1. Funding of expenditure towards Investment in upgrading enhancement of and development of new products (₹13 Cr)
2. Business Development and Marketing Activities including manpower hiring (₹9.62 Cr)
3. General corporate purposes and unidentified inorganic acquisition
Novus Loyalty IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹60.15 Cr |
| Offer For Sale | ₹11.97 Cr |
| Fresh Issue | ₹48.18 Cr |
Novus Loyalty IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 2,000 | 2,78,000 |
| Retail (Max) | 2 | 2,000 | 2,92,000 |
| S - HNI (Min) | 3 | 3,000 | 4,17,000 |
| S - HNI (Max) | 6 | 6,000 | 8,76,000 |
| B - HNI (Min) | 7 | 7,000 | 10,22,000 |
Novus Loyalty IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| QIB (Ex Anchor) | 1.38 | 8,10,000 | 11,15,000 | 16.279 |
| Non-Institutional Buyers | 1.17 | 5,86,000 | 6,84,000 | 9.986 |
| BNII | 1.31 | 3,91,000 | 5,12,000 | 7.475 |
| SNII | 0.88 | 1,95,000 | 1,72,000 | 2.511 |
| Individual Investors (IND category bidding for 2 Lots) | 1.82 | 13,64,000 | 24,80,000 | 36.208 |
| Total** | 1.55 | 27,60,000 | 42,79,000 | 62.473 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Revenue | 59.59 | 73.29 | 104.62 |
| EBITDA | 2.27 | 4.82 | 5.69 |
| PAT | 0.55 | 2.96 | 3.58 |
| Particulars (In ₹ Crores) | FY23 | FY24 | FY25 |
| Total Assets | 13.38 | 12.36 | 14.81 |
| Share Capital | 0.01 | 0.01 | 0.01 |
| Total Liabilities | 13.38 | 12.36 | 14.81 |
| Cash Flows (₹ Crores) | FY23 | FY24 | FY25 |
| Net Cash Generated From / (used in) Operating Activities | 2.71 | 2.02 | 3.29 |
| Net Cash Generated From / (used in) Investing Activities | -0.79 | 0.02 | -0.39 |
| Net Cash Generated From / (used in) Financing Activities | -0.90 | -3.07 | -1.05 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 1.02 | -1.03 | 1.85 |
Strengths
1. 14+ years of operation since 2011, serving 400+ enterprise clients across banking, retail, e-commerce, and healthcare
2. Processes 100 Mn+ transactions/month with 40 Mn+ consumers, demonstrating high platform reliability
3. SaaS-based, API-first architecture with 250+ integrations enabling rapid client onboarding
4. Certified under ISO 27001, PCI DSS, CMMI and OWASP — strong compliance posture for regulated sectors
Weaknesses
1. No prior public market for equity shares; first-time listing on BSE SME limits institutional depth
2. Promoters hold significant pre-IPO equity - high founder concentration
3. Restated financials cover only FY2023–H1FY26, offering limited historical visibility for investors
4. Absence of a corporate office address in the RHP suggests lean operational infrastructure
Opportunities
1. Rising UPI adoption and CBDC rollout create new loyalty touchpoints for instant rewards at scale
2. Global loyalty management market expanding rapidly - BFSI, retail, and travel segments driving SaaS demand
3. Fresh issue proceeds earmarked for product development and market expansion, fuelling next-phase growth
4. AI-led personalisation positions Novus to capture premium enterprise contracts vs. legacy rivals
Threats
1. Highly fragmented loyalty tech market with well-funded global players and agile Indian startups
2. Data privacy and DPDP Act compliance obligations increase operational and legal overhead
3. Client revenue concentration - loss of key banking or enterprise accounts could materially impact financials
4. SME listing liquidity constraints may limit price discovery and deter large institutional participation post-listing
1. 14-year track record: Trusted by 400+ enterprises across banking, retail, healthcare, and travel since 2011.
2. Proven scale: 100 Mn+ transactions/month, 187 Mn+ loyalty members, and 7 Bn+ points earned annually.
3. AI-led edge: Proprietary NoCXy engine delivers real-time personalisation, setting it apart from generic SaaS rivals.
4. Growth-focused capital: Fresh issue proceeds directed toward product development and geographic expansion.
Novus Loyalty operates in the rapidly expanding global loyalty management software market, serving 400+ enterprises across banking, retail, e-commerce, healthcare, and travel. The RHP highlights India's surging digital payments ecosystem - particularly UPI and CBDC adoption - as a key demand driver for real-time rewards infrastructure. With 100 Mn+ monthly transactions and 187 Mn+ loyalty members served to date, the company's SaaS platform demonstrates proven scalability. Fresh issue proceeds are earmarked for product development and geographic expansion, positioning Novus to deepen its AI-powered loyalty stack and capture a larger share of an increasingly enterprise-driven, data-first engagement economy.
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FAQs
Novus Loyalty IPO opens from March 17, 2026, to March 20, 2026.
The size of Novus Loyalty IPO is ₹60.15Cr.
The price band of Novus Loyalty IPO is fixed at ₹139 to ₹146 per share.
To apply for Novus Loyalty IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Novus Loyalty IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Novus Loyalty IPO is of 2,000 shares and the investment required is ₹2,78,000.
The share allotment date of Novus Loyalty IPO is March 23, 2026
The Novus Loyalty IPO will likely be listed on March 25, 2026.
Smart Horizon Capital Advisors Private Limited is the book running lead manager for Novus Loyalty IPO.
Novus Loyalty IPO plans to utilise the raised capital from the IPO for:
1. Funding of expenditure towards Investment in upgrading enhancement of and development of new products (₹13 Cr)
2. Business Development and Marketing Activities including manpower hiring (₹9.62 Cr)
3. General corporate purposes and unidentified inorganic acquisition