The Novus Loyalty Limited IPO is set to open for subscription with a total issue size of ₹60.15 crore.

The IPO is structured as a book built issue, consisting of a fresh issue of shares along with an offer for sale by existing shareholders.

The subscription period for the IPO will open on March 17, 2026 and close on March 20, 2026.

After the subscription window closes, the basis of allotment is expected to be finalised on March 23, 2026.

The company’s shares are expected to list on the BSE, with a tentative listing date of March 25, 2026.

Novus Loyalty IPO Issue Structure

The public issue includes two components: a fresh issue and an offer for sale (OFS).

The fresh issue consists of 0.33 crore shares, which will raise approximately ₹48.18 crore for the company.

In addition, the IPO includes an offer for sale of 0.08 crore shares, aggregating to ₹11.97 crore, where existing shareholders sell part of their stake.

Together, the total issue size amounts to ₹60.15 crore.

Novus Loyalty IPO Price Band

The price band for the Novus Loyalty IPO has been fixed between ₹139 and ₹146 per equity share.

At the upper price band of ₹146, the company is expected to achieve a market capitalisation of approximately ₹227.03 crore after listing.

Investors can submit bids within the price range during the subscription period.

Novus Loyalty IPO Lot Size and Investment

The minimum lot size for the IPO is 1,000 shares.

For retail investors, the minimum investment requirement is:

• 2 lots (2,000 shares)
• Minimum investment amount ₹2,92,000

For High Net Worth Individuals (HNIs), the minimum application requirement is:

• 3 lots (3,000 shares)
• Minimum investment amount ₹4,38,000

Investors can apply for additional lots depending on their financial capacity and category limits.

Novus Loyalty IPO Important Dates

Key timelines for the IPO are as follows:

• IPO opening date: March 17, 2026
• IPO closing date: March 20, 2026
• Expected allotment date: March 23, 2026
• Tentative listing date: March 25, 2026

These dates may change depending on regulatory approvals and completion of procedural formalities.

Novus Loyalty Limited Business Overview

Novus Loyalty Limited is a technology driven loyalty and customer engagement solutions provider.

The company designs and manages loyalty programs, rewards platforms and customer engagement solutions for enterprises.

Its services help businesses improve customer retention, enhance engagement and encourage repeat purchases.

The company serves clients across multiple industries including:

• Banking
• Fintech
• Telecom
• Retail
• Travel
• Hospitality

These industries rely heavily on customer loyalty programs to maintain long term relationships with their customers.

Technology Platforms and Loyalty Programs

A major part of the company’s operations involves developing and managing technology platforms for loyalty programs.

These platforms enable companies to create and manage customer reward systems, promotional campaigns and engagement activities.

Businesses use these systems to:

• Offer reward points
• Provide special offers and incentives
• Run promotional campaigns
• Track customer behaviour and engagement

Such platforms help companies build stronger relationships with customers and improve brand loyalty.

Revenue Model of the Company

Novus Loyalty generates revenue through several service offerings.

These include:

• Technology platform services
• Program management services
• Reward fulfilment services
• Marketing and engagement solutions

Through these services, the company helps businesses design, operate and manage their loyalty ecosystems effectively.

Reward fulfilment services involve managing reward distribution such as gift cards, merchandise, travel benefits and digital rewards for customers participating in loyalty programs.

Importance of Customer Loyalty Programs

Customer loyalty programs have become an important part of modern marketing strategies.

Companies across industries use loyalty platforms to:

• Increase repeat purchases
• Improve customer retention
• Strengthen brand engagement
• Gain insights into customer behaviour

Technology driven loyalty solutions allow companies to track user engagement data and personalise offers, improving the effectiveness of marketing campaigns.

IPO Lead Manager, Registrar and Market Maker

The book running lead manager for the Novus Loyalty IPO is Smart Horizon Capital Advisors Private Limited.

The registrar to the issue is KFin Technologies Limited, which is responsible for managing IPO applications, maintaining investor records and handling the allotment process.

The market maker for the issue is Shreni Shares Limited, which will help maintain liquidity in the stock after listing, particularly in SME market segments.

Novus Loyalty IPO Grey Market Premium

According to current market updates, the Grey Market Premium for the Novus Loyalty IPO is around ₹0.

This indicates that no premium is currently being observed in the unofficial grey market for the shares.

However, investors should note that grey market trading is unofficial and unregulated.

Prices in the grey market depend entirely on informal demand and supply conditions, and they do not guarantee the actual listing performance of the IPO.

Therefore, the Grey Market Premium is shared only for informational and educational purposes.

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