Novus Loyalty IPO Ignites Investor Buzz With ₹60 Crore Issue

Novus Loyalty’s IPO opens for subscription on March 17, 2026, and will close on March 20, 2026. The allotment is expected to be finalized on March 23, with listing scheduled for March 25. Market watchers are closely tracking the grey market premium (GMP), which currently shows muted activity, reflecting cautious investor sentiment.

IPO Structure And Details
The IPO is a book-built issue aggregating ₹60.15 crore. Of this, ₹48.18 crore will be raised through fresh issuance, while ₹11.97 crore comes from the offer-for-sale component. The lot size is 1,000 shares, requiring a minimum retail investment of ₹2,92,000 at the upper price band.

Market Outlook And Investor Interest
Novus Loyalty aims to strengthen its technology-driven loyalty solutions platform with IPO proceeds, focusing on expansion and innovation. While GMP trends remain flat, analysts suggest long-term investors may find value in the company’s niche positioning within the customer engagement and rewards sector.

Key Highlights

• IPO size: ₹60.15 crore
• Price band: ₹139–146 per share
• Subscription window: March 17–20, 2026
• Allotment date: March 23, 2026
• Listing date: March 25, 2026 on BSE SME
• Lot size: 1,000 shares; minimum retail investment ₹2,92,000
• Combination of fresh issue and offer-for-sale

Sources: Moneycontrol, Mint, Chittorgarh