Novus Loyalty came to market through an SME IPO that opened on 17 March 2026 and closed on 20 March 2026, and the shares listed on 25 March 2026 on BSE SME. The price band was ₹139 to ₹146 per share and one lot was 1000 shares, so the minimum application was ₹1,46,000. The issue size was ₹60.15 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Kfin Technologies Ltd was the registrar to the issue, and Smart Horizon Capital Advisors Pvt.Ltd was the lead manager.
As of 20 March 2026.
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Novus Loyalty was founded in 2011 and is a technology-driven company that provides loyalty and reward programs for industries such as Fintech, E-commerce, Software, Banking, FMCG, Real Estate, and many more. It provides a modern loyalty program platform developed using the latest technology. It provides both customized and ready-to-use program models such as points-based reward programs, event-driven programs, cashback programs, purchase-based programs, and vouchers.
It is flexible and can be easily integrated into the existing systems and works well on the web, mobile applications, and physical stores. It provides both On-premises with Infra and Software as a Service along with Artificial Intelligence-based analytics solutions.On-Premises: This is suitable when the client has its own servers and private clouds, providing complete control over the data. SaaS (Cloud-based):
This is best suited when the client is looking for a subscription-based service that is easy to implement and manage. Market Presence: The company has its market presence in the Indian as well as the international markets. In the Indian market, the customers are from the states such as Telangana, Haryana, Uttar Pradesh, Maharashtra, Punjab, Tamil Nadu, Rajasthan, Delhi, and Karnataka. In the international market, the customers are from the UAE, USA, Australia, and Puerto Rico.
The company has about 50 employees as of January 31, 2026.
As described in the offer document.
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Deepak Tomar, Sweta Singh.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Novus Loyalty IPO was a ₹60.15 crore book-built issue, comprising a fresh issue of ₹48.18 crore and an offer for sale of ₹11.97 crore. It was priced at ₹139–₹146 per share with a lot size of 1,000 shares; the minimum retail application was 2,000 shares (₹2,92,000). The IPO was open from March 17 to March 20, 2026 and was subscribed 1.63x. Shares listed on BSE SME on March 25, 2026 at ₹146, in line with the issue price of ₹146.
Kfin Technologies Ltd. is the registrar. Smart Horizon Capital Advisors Pvt. Ltd. is the book running lead manager.
The price band of Novus Loyalty IPO is ₹139 to ₹146 per share.
The lot size of Novus Loyalty IPO is 1000 shares.
The minimum investment for Novus Loyalty IPO is approximately ₹2,92,000 based on the upper price band.
The allotment date of Novus Loyalty IPO is Mar 23, 2026.
You can check Novus Loyalty IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Novus Loyalty IPO allotment status on Rupix for quick and easy access.
₹139 to ₹146 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1000 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,46,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,46,000, for one lot of 1000 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 17 March 2026 and closed on 20 March 2026.
The basis of allotment was published on 23 March 2026 by Kfin Technologies Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 25 March 2026 on BSE SME.
The issue size was ₹60.15 crore. The fresh issue was 33,00,000 shares (aggregating up to ₹48.18 crore). The offer for sale was 8,20,000 shares (aggregating up to ₹11.97 crore).