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Explore how Novus Loyalty Ltd.’s IPO performed during its subscription period, including investor participation on the first day, price band details, key dates, and the step-by-step process to apply through ASBA or UPI.
The Novus Loyalty Ltd. IPO opened for subscription on March 17, 2026, marking the company’s entry into the SME segment of the public markets. The company operates in the loyalty and rewards solutions space, catering to businesses seeking customer engagement and retention programs.
The IPO is a book-built issue with a price band of ₹139 to ₹146 per share, aiming to raise approximately ₹60.15 crore. On the opening day, the issue witnessed early traction primarily from retail investors.
The Novus Loyalty Ltd. IPO opened with initial participation from investors, with retail investors leading the bidding activity on Day 1. Subscription data on the first day provides early insight into market sentiment toward the issue.
On the first day of bidding, the Novus Loyalty Ltd. IPO recorded an overall subscription of 0.22×. Retail investors showed relatively stronger interest compared to other categories, while institutional participation remained absent during the early phase.
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIB) |
N.A. |
Retail Individual Investors (RII) |
0.45× |
Non-Institutional Investors (NII) |
0.04× |
Others |
N.A. |
Total |
0.22× |
The Day 1 response indicates a moderate start driven largely by retail participation, with expectations of broader investor activity in the coming days.
On the second day of bidding, the Novus Loyalty Ltd. IPO recorded moderate participation across investor segments. Based on the latest available figures, the overall issue was subscribed 0.88×, reflecting gradual momentum during the subscription period.
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIB) |
0.89x |
Retail Individual Investors (RII) |
1.19x |
Non-Institutional Investors (NII) |
0.34x |
Total |
0.88x |
Retail investors accounted for the highest participation by Day 2, crossing the 1× mark, while institutional and non-institutional segments showed steady but comparatively lower engagement at this stage.
On the third and final day of bidding, the Novus Loyalty Ltd. IPO witnessed an improvement in investor participation across categories. As per the latest available data, the issue was subscribed 1.02× overall, indicating that the IPO moved into full subscription territory by the end of the bidding period.
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIB) |
0.89x |
Retail Individual Investors (RII) |
1.29x |
Non-Institutional Investors (NII) |
0.70x |
Total |
1.02x |
Retail investors continued to lead the subscription, maintaining demand above the 1× mark. Participation from non-institutional investors also increased compared to earlier days, contributing to the overall subscription crossing full coverage by the close of Day 3.
On the fourth and final day of bidding, the Novus Loyalty Ltd. IPO successfully closed with an overall subscription of 1.25×. The retail segment demonstrated the strongest demand, comfortably crossing the 1.5× mark, while Qualified Institutional Buyers (QIB) also fully subscribed to their allotted portion.
| Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIB) |
1.18× |
Retail Individual Investors (RII) |
1.55× |
Non-Institutional Investors (NII) |
0.83× |
Total |
1.25× |
The final figures reflect solid market interest, particularly from retail and institutional participants, allowing the SME issue to comfortably surpass its full subscription target by the close of the bidding window.
The price band for the Novus Loyalty Ltd. IPO is set between ₹139 and ₹146 per share, with a face value of ₹10 per share
Investors can apply for a minimum lot size of 1,000 shares, and bids can be placed in multiples of this lot size thereafter.
| Investor Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
Retail (Minimum) |
1 |
1,000 |
₹1,46,000 |
At the upper price band, the minimum investment required for retail investors is ₹1,46,000.
For detailed insights about the company, issue particulars, and the latest updates, visit the Novus Loyalty IPO on Bajaj Markets.
The IPO timeline outlines the key milestones from subscription to listing.
| Event | Date | Details |
|---|---|---|
IPO Open Date |
March 17, 2026 |
Issue opens for subscription |
IPO Close Date |
March 20, 2026 |
Final day to submit bids |
Basis of Allotment |
March 23, 2026 |
Allotment finalisation expected |
Refunds Initiation |
March 24, 2026 |
Refunds begin for unallotted investors |
Credit of Shares to Demat |
March 24, 2026 |
Shares credited to successful applicants |
Listing Date |
March 25, 2026 |
Shares expected to list on SME platform |
Note: These dates represent procedural milestones based on publicly available data and are intended for informational purposes only.
Investors can apply for the Novus Loyalty Ltd. IPO through ASBA (net banking) or UPI via broker platforms.
This is a convenient and secure method where your application amount stays blocked until shares are allotted.
Log in to your internet banking account.
Go to the ‘Investments’ or ‘IPO Application’ section.
Select ‘Novus Loyalty Ltd. IPO’ from the available list.
Enter your preferred bid quantity and price.
Confirm and submit your application.
The bid amount will remain blocked in your account until allotment.
Upon allotment, the amount will be debited, and shares credited to your Demat account.
You can apply using UPI through your stockbroker’s or financial marketplace’s online platform.
Log in to your trading account or Demat account on your broker’s platform or financial marketplace.
Navigate to the IPO section and select ‘Novus Loyalty Ltd. IPO’.
Enter your application details including number of lots and price.
Provide your UPI ID linked to your bank account.
Approve the UPI mandate request on your UPI app (like BHIM, Google Pay, or PhonePe).
Funds will be debited only upon share allotment.
Once allotted, shares will be credited directly to your Demat account.
Check Upcoming IPO’s Here : Upcoming IPO
The information provided above is based on publicly available data from reliable financial news and market sources. Investors are advised to verify figures and consult financial experts before making investment decisions. Market conditions and subscription numbers are subject to change during the IPO window.
Sources
LiveMint — IPO News and Updates, https://www.livemint.com/market/ipo
Economic Times — IPO News: Latest IPO News, Upcoming IPO, https://economictimes.indiatimes.com/markets/ipo
Financial Express — IPO News, https://www.financialexpress.com/market/ipo-news/
NDTV Profit — IPOs, https://www.ndtvprofit.com/ipos
Business Today — IPO Corner: Latest IPO News & Analysis, https://www.businesstoday.in/markets/ipo-corner
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