Novus Loyalty IPO Update

IPO Details

• Issue: Book-built offering of ₹60 crore
• Fresh Issue: 0.33 crore shares aggregating to ₹48.18 crore
• Offer for Sale: 0.08 crore shares worth ₹11.97 crore by existing shareholders
• Price Band: ₹139-146 per share
• Minimum Lot Size: 2,000 shares, amounting to an investment of approximately ₹2.92 lakh at the upper end

Subscription Status

Read also: SpaceX Seeks Record $75 Billion IPO, Potentially Positioning Elon Musk as the World's First Trillionaire

• As of 12:35 pm, the IPO was subscribed 14% on the first day of bidding
• Individual Investors: 0.28 times bids so far
• Non-Institutional Investors (NIIs): 0.04 times
• QIB: Unsubscribed for now

Grey Market Premium

• Current GMP: ₹0, according to Investorgain
• Estimated Listing Price: ₹146 if the current trends persist

IPO Timeline

Read also: SMR Jewels IPO Successfully Lists with Institutional Support

• Subscription Period: March 17-20
• Anchor Investors: Secured ₹16.5 crore on March 16
• IPO Allotment: Likely to be finalised on March 23
• Listing Date: Expected on March 25 on the BSE SME platform

Use of Proceeds

• Product Development and Technology Upgrades: Primary use of fresh issue proceeds
• Business Expansion and Marketing Initiatives: Secondary use of fresh issue proceeds
• General Corporate Purposes: Remaining proceeds from the fresh issue