Novus Loyalty Files DRHP For BSE SME IPO: Fresh Issue Of 35 Lakh Shares, OFS 9 Lakh

Gurgaon, 3rd October 2025: Novus Loyalty Limited has filed its Draft Red Herring Prospectus (DRHP) for an initial public offering (IPO) on the BSE SME platform. The issue comprises a fresh issue of 35,00,000 equity shares, along with an Offer for Sale (OFS) of 9,00,000 shares by the promoters, aggregating to 44,00,000 equity shares. Details such as the price band, bid dates, and lot size will be disclosed in the Red Herring Prospectus. Smart Horizon Capital Advisors Pvt Ltd has been appointed as the exclusive Book Running Lead Manager, while KFin Technologies Ltd will act as the registrar.

Originally established as Clavax Technologies and later rebranded, Novus Loyalty is headquartered in Udyog Vihar Phase V, Gurgaon. The company provides customer engagement and loyalty management solutions across multiple sectors, including fintech, e-commerce, FMCG, retail, banking, and real estate. Its offerings include enterprise loyalty platforms, customer engagement software, redemption engines, and advanced analytics.

The firm operates on a shared architecture suitable for both on-premises and cloud-based infrastructure-as-a-service (IaaS) deployments. Its product pipeline includes Pearl Perks, an incentive platform, and RUBE-COM, a loyalty management solution tailored for e-commerce platforms.

Novus Loyalty IPO Financial Performance

Novus Loyalty Limited has delivered consistent growth in recent years, with revenue rising from ₹5,960.66 lakh in FY23 to ₹7,361.20 lakh in FY24, and reaching ₹10,462.59 lakh in FY25. Profit after tax stood at ₹358.48 lakh in FY25, supported by healthy margins. The company’s strong financial position is highlighted by its zero borrowings, a current ratio of 9.12, and earnings per share (EPS) of ₹2.93.

Novus Loyalty IPO Promoter Shareholding And Issue Objectives

Promoters Deepak Tomar and Sweta Singh, who together hold over 95% of the pre-issue equity, are selling 4,50,000 equity shares each through the Offer for Sale (OFS). The proceeds from the OFS will be utilised for product enhancements, marketing initiatives, recruitment, acquisitions, and general corporate purposes.

Novus Loyalty IPO Strengths And Risks

The company benefits from sectoral diversification, a debt-free balance sheet, and a growing base of enterprise clients. Nonetheless, it faces risks, including a high level of dependence on a small number of customers, data security issues, rapid technological changes, and a concentration of revenue in a few locations.

The IPO positions Novus Loyalty to strengthen its presence in the loyalty solutions industry. Future growth will depend on the company’s ability to manage risks while driving innovation. Investors will look to the final pricing and subscription details, as outlined in the Red Herring Prospectus (RHP), to assess the potential opportunity.

REF: https://www.bsesme.com/download/343373/SME_IPO InPrinciple/DRHPNovus_20250930205316.pdf

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