Novus Loyalty IPO to open subscription on March 17, check price band and other details here

Novus Loyalty IPO News

• Novus Loyalty IPO to open subscription on March 17
• IPO Mix: Fresh issue of 33 lakh shares, offer-for-sale of 8.2 lakh shares
• Price band at Rs 139-146 per share

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Loyalty and rewards solutions provider Novus Loyalty will launch its maiden public issue worth Rs 60.15-crore for subscription next week on March 17. It has filed Red Herring Prospectus with the Registrar of companies last week on March 6.

The IPO is a combination of fresh issue of 33 lakh shares, and an offer-for-sale of 8.2 lakh shares by existing shareholders.

Promoters Deepak Tomar and Sweta Singh will be selling 4.1 lakh shares each via offer-for-sale.

The price band for the offer has been fixed at Rs 139-146 per share. The anchor book will be opened for a day on March 16, while the initial public offering (IPO) will close for all investors on March 20.

The company will finalise its IPO share allotment by March 23, while its equity shares will be available for trading on the BSE SME on March 25.

Novus Loyalty that offering loyalty and rewards solutions for industries such as fintech, e-commerce, software, finance, banking, FMCG and real estate will spend Rs 13 crore of proceeds from fresh issue for upgrading existing products and development of new products, and Rs 9.6 crore for business development and marketing activities including manpower hiring.

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And the remainder funds will be utilised for general corporate purposes and unidentified inorganic acquisition.

The company that compares with only listed peer Pelatro helps enterprises by providing data-driven solutions - both customizable and ready-to-use program models including point-based rewards, event-triggered campaigns, cashback systems, purchase-linked promotions, and digital vouchers - to build meaningful relationships with their customers.

On the financial front, Novus Loyalty has reported profit of Rs 3.6 crore for the fiscal year 2025, growing 21 percent from Rs 2.96 crore in previous year. Revenue from operations during the same period soared 42.8 percent to Rs 104.6 crore from Rs 73.3 crore.

Profit for six months period ended September of current fiscal stood at Rs 5.8 crore on revenue of Rs 71.4 crore.

The sole merchant banker managing the Novus Loyalty IPO is Smart Horizon Capital Advisors.