The Indian market for loyalty programs and rewards management is expected to grow at a CAGR of 20-25% until 2030, fueled by digitalization, the fintech revolution, e-commerce growth, and increasing customer engagement needs in the banking/FMCG/retail space. Novus Loyalty Ltd is a Gurugram-based SaaS company since 2011, offering AI-powered loyalty programs, rewards programs, cashback campaigns, omnichannel solutions for fintech, e-commerce, banking, software, FMCG, real estate industries.
Novus Loyalty Ltd provides customizable SaaS solutions with ISO 27001 certification, integrations, data analytics for retention/acquisition, serving both domestic and international clients through scalable cloud-based platforms, led by promoters Deepak Tomar and Sweta Singh.
Novus Loyalty Ltd has reported strong financial performance prior to the IPO: FY25 Revenue ₹71.43 Cr (high YoY growth), PAT ₹5.80 Cr, Assets ₹21.83 Cr. ₹60.15 Cr BSE SME IPO (41.2 lakh equity shares @ ₹10 FV: fresh ₹48.18 Cr + OFS ₹11.97 Cr) at ₹139-146 band (lot 1,000 shares ≈ ₹1.46 lakh). Opens March 17-20, 2026, allotment March 23, BSE SME listing March 25.
Novus Loyalty IPO Details:
Novus Loyalty Issue Management:
Smart Horizon Capital Advisors Private Ltd acts as the book-running lead manager for Novus Loyalty SME IPO, managing underwriting and compliance.
Novus Loyalty IPO RTA (Registrar) Details:
Kfin Technologies Ltd handles allotment, refunds, and demat credits—contact at 04067162222 to 04079611000 or novus.ipo@kfintech.com.
Novus Loyalty IPO Allotment Status:
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Action Links:
To apply for Novus Loyalty IPO, open a demat account here
Novus Loyalty IPO Subscription Status: Check live subscription here
Novus Loyalty IPO GMP Update: Check latest grey market premium here
Novus Loyalty Ltd, incorporated in 2011 with its corporate office in Gurugram, Haryana, is a technology-driven company offering end-to-end loyalty and rewards solutions designed specifically for industries like fintech, e-commerce, software, finance, banking, FMCG, and real estate, among others. It has built a next-generation technology platform with AI-based analytics for delivering innovative and ready-to-use solutions like point-based rewards, event-based campaigns, cashback offers, purchase-based promotions, and digital vouchers, among others. Its technology platform can easily integrate with clients' existing infrastructure for delivering end-to-end omnichannel solutions for both domestic and international markets with its ISO 27001:2013 certification for IT services and software development.
Under the leadership of its promoters, Deepak Tomar and Sweta Singh, the company is committed to delivering end-to-end solutions for customer engagement, retention, and acquisition through data-driven solutions.
Novus Loyalty Ltd has shown growth before IPO with recent RHP: fresh issue ₹48.18 Cr, OFS ₹11.97 Cr. ₹60.15 Cr BSE SME IPO (41.2 lakh equity shares @ ₹10 FV: fresh 33 lakh + OFS 8.2 lakh) at ₹139-146 band (lot 1,000 shares ≈ ₹1.46 lakh). Opens March 17-20, 2026 (anchor March 16); allotment March 23; BSE SME listing March 25.
Novus Loyalty IPO Size:
Novus Loyalty Limited IPO is ₹60.15 Cr total (mixed issue).
Novus Loyalty IPO proceeds will be deployed towards the following objectives:
Novus Loyalty Ltd BSE SME IPO reserves 41.2 lakh shares per SEBI SME norms
The Anchor bidding for Novus Loyalty IPO opens March 16, 2026 (~28% QIB).
Lock-in: 50% for 30 days, 50% for 90 days per SEBI norms. as per SEBI SME guidelines.
The anchor allocation document filed right before issue opens will list specific anchor investor names via registrar Kfin Technologies Ltd.
According to RHP reports, Novus Loyalty Ltd posted robust FY25 financials. Revenue surged 42% YoY to ₹104.63 Cr, PAT jumped 21% to ₹3.58 Cr (3.42% margin), ROE strong on net worth growth, ROCE healthy, EBITDA ₹5.69 Cr (5.43% margin). Growth driven by loyalty platform adoption, fintech/e-commerce integrations, SaaS subscriptions, client expansion in banking/FMCG.
The important risks and strengths of Novus Loyalty IPO are mentioned below:
Strengths:
Proven 14-year track record since 2011 with enterprise customers in BFSI, fintech, and e-commerce; scalable SaaS platform with AI-powered analytics and omnichannel capabilities (web/mobile/in-store).
Flexible rule engine for varied loyalty programs (points/cashback/vouchers/gamification) in multiple industries; ISO 27001 certification for security and smooth CRM/ERP integrations.
Proven client retention through recent wins in banking (2020 and 2023) and global footprint expansion (2024); NoCXy intelligence engine for real-time personalization and prediction-based engagement.
FY25 revenue growth at 42% to ₹104.63 Cr; PAT at ₹3.58 Cr; scalable SaaS model with pay-per-use economics for expanding margins.
Risks
Client concentration in banking and fintech makes revenue vulnerable to churn and delayed payments from key accounts despite the company’s diversification efforts.
High competitive intensity from global loyalty platform players (e.g., Antavo and Zinrelo) and established fintech companies in India; continuous R&D investments required in the highly evolving technology landscape.
Low profitability track record with PAT margins at 3.42%; scaling up marketing and manpower expenses post-IPO (₹9.6 Cr allocation).
Uncertain inorganic deals (₹25.58 Cr in cash reserves) carry integration and valuation risks in the event of underperformance of acquired companies.
The RHP documents from RHP support the FY25 results for Novus Loyalty Ltd: revenue at ₹104.63 Cr (+42% YoY), PAT at ₹3.58 Cr (+21% YoY), RoNW growth for RoNW, and a reasonable PE band of 35-40x (estimated FY25 earnings at ₹8.70).
The company provides AI-powered loyalty solutions for fintech/banking/FMCG/e-com segments with omnichannel rewards (points/cashback/vouchers), ISO 27001 integrations for these segments, and NoCXy analytics for engagement and acquisition.
The ₹60.15 Cr BSE SME IPO at ₹146 (upper band) or a post-issue MCap of ₹600 Cr is at 5.7x sales and 42x earnings for listing gains, despite a higher PE for a SaaS company compared to others in the loyalty SaaS space like Affle at 45x or WebEngage at a 50x.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is for informative purposes and not investment advice.
Action Links:
To apply for Novus Loyalty IPO, open a demat account here
Novus Loyalty IPO Subscription Status: Check live subscription here
Novus Loyalty IPO GMP Update: Check latest grey market premium here
1. What is the Novus Loyalty IPO open and close date?
The Novus Loyalty Ltd BSE SME IPO opens March 17, closes March 20, 2026; allotment March 23, BSE SME listing March 25.
Track Novus Loyalty IPO subscription status live here from Finnpick.
2. What is the Novus Loyalty IPO price band and lot size?
The Novus Loyalty IPO price band ₹139-146 per share (FV ₹10), lot size 1,000 shares; retail minimum ₹1.46 lakh (upper band).
3. What is Novus Loyalty IPO total size?
The Novus Loyalty IPO size is ₹60.15 Cr mixed issue (41.2 lakh shares): fresh ₹48.18 Cr (33 lakh shares), OFS ₹11.97 Cr (8.2 lakh shares).
4. How to apply for the Novus Loyalty IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or ASBA by Mar 20, 4 PM. Monitor Novus Loyalty IPO subscription tracker here.
5. How to check Novus Loyalty IPO Allotment Status?
The allotment date is on Mar 23rd and can be checked on Kfin Technologies portal RTA portal using PAN/DP ID.
6. What is Novus Loyalty IPO GMP today and subscription status?
Current Grey Market Premium (GMP) stands at ₹0 (flat) as of Mar 10, indicating listing at the price range of ₹146—check daily updates of Novus Loyalty IPO GMP trends here and live subscription status here from Mar 17th opening only on Finnpick.
7. What does Novus Loyalty specialize in?
Novus Loyalty specializes in AI-powered loyalty/rewards SaaS platforms for fintech, banking, e-commerce, FMCG; omnichannel programs (points, cashback, vouchers) with ISO 27001 certification.
8. When is the Novus Loyalty IPO listing date?
The Novus Loyalty Ltd IPO lists on 25th March, 2026 on BSE SME (~T+1 post-allotment Mar 23).
9. What are the Novus Loyalty IPO proceeds utilization details?
The Novus Loyalty IPO fresh issue proceeds ₹13 Cr product upgrades/new development, ₹9.6 Cr marketing/manpower, ₹25.58 Cr general corporate/acquisitions.
