SME IPO alert: Novus Loyalty to raise ₹60cr
Novus Loyalty is opening its IPO for subscription from March 17 to 20, aiming to raise ₹60.15 crore by offering 33 lakh new shares and 8.2 lakh shares from promoters Deepak Tomar and Sweta Singh (4.1 lakh shares being sold by Deepak Tomar and 4.1 lakh by Sweta Singh), taking the total issue size to 41.20 lakh (4,120,000) shares, at ₹139 to ₹146 each.
Anchor bidding kicks off on March 16, with the company set to list on BSE SME by March 25.
Novus saw strong growth last year
Novus Loyalty runs a global cloud-based platform that helps brands launch reward points, cashback offers, and digital vouchers (think tools for keeping customers hooked) across industries like fintech, e-commerce, FMCG, banking, and real estate.
The company saw strong growth last year: revenue jumped nearly 43% to ₹104.62 crore in FY25 with profits up as well.
Funds will go into upgrading products, marketing, and hiring
Funds from the IPO will go into upgrading products (₹13 crore), marketing (₹9.6 crore), hiring new talent, and possibly acquiring other companies.
Novus's only listed peer in this space is Pelatro, so it's stepping into a pretty unique spot on the market right now.