Novus Loyalty IPO Day 3: The initial public offering of Novus Loyalty opened for subscription on Tuesday, March 17 and will close today, Thursday, March 19. The Novus Loyalty IPO price band has been set in the range of ₹139-146 per share.
The company aims to raise ₹60.15 crore from this initial public offering (), which is a mix of fresh shares and an offer for sale (OFS). The issue is a combination of fresh issue of 0.33 crore shares aggregating to ₹48.18 crore and offer for sale of 0.08 crore shares aggregating to ₹11.97 crores.res aggregating to ₹290.00 crore.
The allotment is expected on Friday, March 20, while successful applicants are likely to receive their shares on Monday, March 23. Refunds for non-allottees will also be processed on the same day. The stock is scheduled to list on the BSE SME with a tentative date of March 25, Wednesday.
Novus Loyalty IPO GMP Today
Investor sentiment toward the IPO is muted. Novus’ IPO grey market premium (GMP) is ₹0 on March 19. This suggested that the stock was likely to debut at ₹146, same as IPO price.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Novus Loyalty IPO subscription status
The IPO was 1.04 times by 3:15 pm on Day 3 The retail portion was subscribed 1.32 times, and NII portion was booked 0.58 times, Qualified Institutional Buyers (QIBs) portion received 0.89 times bids.
The company has received bids for 28.58 lakh shares against 27.60 lakh shares on offer.
Novus Loyalty IPO Details
Novus Loyalty intends to utilise the proceeds from its fresh issue primarily to fund the development of new products, strengthen marketing initiatives, pursue inorganic growth opportunities, and meet general corporate requirements.
The IPO has been structured with a lot size of 1,000 shares, with retail investors required to apply for a minimum of two lots. This translates to a minimum investment of ₹2,92,000 for 2,000 shares at the upper end of the price band.
Smart Horizon Capital Advisors has been appointed as the book-running lead manager for the issue, while Kfin Technologies is acting as the registrar. Shreni Shares has been designated as the market maker.
About Novus Loyalty
Novus Loyalty operates as a technology-driven platform offering loyalty and rewards solutions across a wide range of sectors, including fintech, e-commerce, software, banking, finance, FMCG, and real estate.
The company has built a scalable and modern platform leveraging advanced technology to deliver data-driven solutions that enable enterprises to enhance customer engagement and retention.
Its offerings include both customizable and ready-to-deploy program models such as point-based reward systems, event-triggered campaigns, cashback programmes, purchase-linked promotions, and digital voucher solutions, catering to diverse client requirements.