{"id":63563,"date":"2026-03-12T12:33:13","date_gmt":"2026-03-12T07:03:13","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=63563"},"modified":"2026-03-12T12:33:19","modified_gmt":"2026-03-12T07:03:19","slug":"novus-loyalty-ipo-review","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/","title":{"rendered":"Novus Loyalty IPO Review 2026: GMP Flat, Key Investor Insights"},"content":{"rendered":"<p><strong>Novus Loyalty IPO<\/strong> is open for bidding from 17th March 2026 to 20th March 2026. It is a bookbuilding issue IPO of \u20b960.15 crore, comprising an entirely fresh issue of 0.33 crore and an offer for sale of 0.08 crore shares. The issue will be listed on BSE and SME on its tentative listing date, 25th March 2026.&nbsp;<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Novus_Loyalty_IPO_Details\" title=\"Novus Loyalty IPO Details&nbsp;\">Novus Loyalty IPO Details&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Novus_Loyalty_IPO_Share_Reservation\" title=\"Novus Loyalty IPO Share Reservation\">Novus Loyalty IPO Share Reservation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Novus_Loyalty_IPO_GMP_Grey_Market_Premium\" title=\"Novus Loyalty IPO GMP Grey Market Premium\">Novus Loyalty IPO GMP Grey Market Premium<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Novus_Loyalty_IPO_GMP_Review\" title=\"Novus Loyalty IPO GMP Review\">Novus Loyalty IPO GMP Review<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Financial_Health\" title=\"Financial Health\">Financial Health<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Technical_Analysis\" title=\"Technical Analysis\">Technical Analysis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Novus_Loyalty_IPO_Subscription_Status\" title=\"Novus Loyalty IPO Subscription Status\">Novus Loyalty IPO Subscription Status<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#About_Novus_Loyalty_Limited\" title=\"About Novus Loyalty Limited\">About Novus Loyalty Limited<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Novus_Loyalty_Limited_Financials\" title=\"Novus Loyalty Limited Financials\">Novus Loyalty Limited Financials<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Explanation\" title=\"Explanation\">Explanation<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Novus_Loyalty_Limited_IPO_Promoter_Holdings\" title=\"Novus Loyalty Limited IPO Promoter Holdings\">Novus Loyalty Limited IPO Promoter Holdings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Aim_of_the_Novus_Loyalty_IPO\" title=\"Aim of the Novus Loyalty IPO\">Aim of the Novus Loyalty IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Should_I_Invest_in_the_Novus_Loyalty_IPO\" title=\"Should I Invest in the Novus Loyalty IPO?\">Should I Invest in the Novus Loyalty IPO?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Pros_of_the_Novus_Loyalty_IPO\" title=\"Pros of the Novus Loyalty IPO\">Pros of the Novus Loyalty IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Cons_of_the_Novus_Loyalty_IPO\" title=\"Cons of the Novus Loyalty IPO\">Cons of the Novus Loyalty IPO<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#How_to_Apply_for_the_Novus_Loyalty_IPO\" title=\"How to Apply for the Novus Loyalty IPO?\">How to Apply for the Novus Loyalty IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#How_to_Check_the_Novus_Loyalty_IPO_Allotment_Status\" title=\"How to Check the Novus Loyalty IPO Allotment Status?\">How to Check the Novus Loyalty IPO Allotment Status?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Check_On_BSE\" title=\"Check On BSE\">Check On BSE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Check_On_the_Registrar_Portal\" title=\"Check On the Registrar Portal\">Check On the Registrar Portal<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Lets_Wrap\" title=\"Let\u2019s Wrap\">Let\u2019s Wrap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#FAQs_on_Novus_Loyalty_IPO\" title=\"FAQs on Novus Loyalty IPO\">FAQs on Novus Loyalty IPO<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#How_is_the_Novus_Loyalty_IPO\" title=\"How is the Novus Loyalty IPO?\">How is the Novus Loyalty IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#What_is_the_Novus_Loyalty_IPO_price\" title=\"What is the Novus Loyalty IPO price?\">What is the Novus Loyalty IPO price?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Is_the_Novus_Loyalty_IPO_a_good_investment\" title=\"Is the Novus Loyalty IPO a good investment?\">Is the Novus Loyalty IPO a good investment?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Who_is_the_registrar_of_the_Novus_Loyalty_IPO\" title=\"Who is the registrar of the Novus Loyalty IPO?\">Who is the registrar of the Novus Loyalty IPO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#What_is_the_issue_size_of_the_Novus_Loyalty_IPO\" title=\"What is the issue size of the Novus Loyalty IPO?&nbsp;\">What is the issue size of the Novus Loyalty IPO?&nbsp;<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/univest.in\/blogs-2\/novus-loyalty-ipo-review\/#Recent_Articles\" title=\"Recent Articles\">Recent Articles<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Novus_Loyalty_IPO_Details\"><\/span><strong>Novus Loyalty IPO Details<\/strong>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2><p>The <strong>Novus Loyalty IPO<\/strong> date is scheduled from 17th March 2026 to 20th March 2026. The face value of Novus Loyalty shares stands at \u20b910 per share, and the IPO Issue price band is set at \u20b9139 to \u20b9146 per share<\/p><p>Kfin Technologies Limited is the registrar of the <strong>Novus Loyalty IPO <\/strong>and is responsible for managing the allotment process and initiating refunds. Check out the latest <a href=\"https:\/\/univest.in\/blogs\/what-is-an-ipo\">IPO<\/a> details in the table below.&nbsp;<\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>IPO Allotment Date<\/strong><\/td><td>23rd March 2026<\/td><\/tr><tr><td><strong>IPO Open Date<\/strong><\/td><td>17th March 2026<\/td><\/tr><tr><td><strong>IPO Close Date<\/strong><\/td><td>20th March 2026<\/td><\/tr><tr><td><strong>Refund Initiation&nbsp;<\/strong><\/td><td>24th March 2026<\/td><\/tr><tr><td><strong>Issue Size<\/strong><\/td><td>41,20,000 shares(agg. up to \u20b960 Cr)<\/td><\/tr><tr><td><strong>Fresh Issue&nbsp;<\/strong><\/td><td>30,70,000 shares(agg. up to \u20b945 Cr)<\/td><\/tr><tr><td><strong>Offer for Sale&nbsp;<\/strong><\/td><td>8,20,000 shares of \u20b910(agg. up to \u20b912 Cr)<\/td><\/tr><tr><td><strong>Face Value<\/strong><\/td><td>\u20b910 per share<\/td><\/tr><tr><td><strong>Lot Size<\/strong><\/td><td>1,000 shares&nbsp;<\/td><\/tr><tr><td><strong>Issue Price&nbsp;<\/strong><\/td><td>\u20b9139 to \u20b9146 per share<\/td><\/tr><tr><td><strong>Issue Type<\/strong><\/td><td>Bookbuilding IPO<\/td><\/tr><tr><td><strong>Listing At<\/strong><\/td><td>BSE &amp; SME<\/td><\/tr><tr><td><strong>Listing Date<\/strong><\/td><td>25th March 2026<\/td><\/tr><\/tbody><\/table><\/figure><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Novus_Loyalty_IPO_Share_Reservation\"><\/span><strong>Novus Loyalty IPO Share Reservation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><strong>Novus Loyalty IPO <\/strong>is a bookbuilding issue of 0.33 crore shares, worth \u20b960.15 crore. Novus Loyalty IPO Limited shares will be listed on the BSE and the SME. Furthermore, SEBI has specified the share reservation criteria for different investor categories.&nbsp;<\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Investor Categories<\/strong><\/td><td><strong>Shares Offered&nbsp;<\/strong><\/td><td><strong>Shares Percentage&nbsp;<\/strong><\/td><\/tr><tr><td><strong>Market Maker Shares Offered&nbsp;<\/strong><\/td><td>2,30,000<\/td><td>5.58%<\/td><\/tr><tr><td><strong>QIB Shares Offered&nbsp;<\/strong><\/td><td>19,40,000<\/td><td>47.09%<\/td><\/tr><tr><td><strong>NII (HNI) Shares Offered<\/strong><\/td><td>5,85,000<\/td><td>14.20%<\/td><\/tr><tr><td><strong>Retail Shares Offered&nbsp;<\/strong><\/td><td>13,65,000<\/td><td>33.13%<\/td><\/tr><tr><td><strong>Total Shares Offered&nbsp;<\/strong><\/td><td>41,20,000<\/td><td>100.00%<\/td><\/tr><\/tbody><\/table><\/figure><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Novus_Loyalty_IPO_GMP_Grey_Market_Premium\"><\/span><strong>Novus Loyalty IPO GMP Grey Market Premium<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>GMP is the gap between the issue price band and the price at which company shares are currently trading in the grey market. Do you want to get live updates on the <strong>Novus Loyalty IPO<\/strong>? If yes, then you\u2019ve reached the right spot. Check the table below to learn about the GMP trends.<\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>GMP DATE<\/strong><\/td><td><strong>IPO Price<\/strong><\/td><td><strong>GMP Price<\/strong><\/td><td><strong>Estimated Listing Price<\/strong><\/td><td><strong>Estimated Gain<\/strong><\/td><\/tr><tr><td><strong>19-3-2026<\/strong><\/td><td><strong>&#8211;<\/strong><\/td><td><strong>&#8211;<\/strong><\/td><td><strong>&#8211;<\/strong><\/td><td><strong>&#8211;<\/strong><\/td><\/tr><tr><td><strong>18-3-2026<\/strong><\/td><td><strong>&#8211;<\/strong><\/td><td><strong>&#8211;<\/strong><\/td><td><strong>&#8211;<\/strong><\/td><td><strong>&#8211;<\/strong><\/td><\/tr><tr><td><strong>17-3-2026<\/strong><\/td><td>\u20b9146.00<\/td><td>\u20b90.00<\/td><td>\u20b9146.00<\/td><td>0.00%<\/td><\/tr><tr><td><strong>16-3-2026<\/strong><\/td><td>\u20b9146.00<\/td><td>\u20b90.00<\/td><td>\u20b9146.00<\/td><td>0.00%<\/td><\/tr><tr><td><strong>15-3-2026<\/strong><\/td><td>\u20b9146.00<\/td><td>\u20b90.00<\/td><td>\u20b9146.00<\/td><td>0.00%<\/td><\/tr><tr><td><strong>14-3-2026<\/strong><\/td><td>\u20b9146.00<\/td><td>\u20b90.00<\/td><td>\u20b9146.00<\/td><td>0.00%<\/td><\/tr><tr><td><strong>13-3-2026<\/strong><\/td><td>\u20b9146.00<\/td><td>\u20b90.00<\/td><td>\u20b9146.00<\/td><td>0.00%<\/td><\/tr><tr><td><strong>12-3-2026<\/strong><\/td><td>\u20b9146.00<\/td><td>\u20b90.00<\/td><td>\u20b9146.00<\/td><td>0.00%<\/td><\/tr><tr><td><strong>11-3-2026<\/strong><\/td><td>\u20b9146.00<\/td><td>\u20b90.00<\/td><td>\u20b9146.00<\/td><td>0.00%<\/td><\/tr><tr><td><strong>10-3-2026<\/strong><\/td><td>\u20b9146.00<\/td><td>\u20b90.00<\/td><td>\u20b9146.00<\/td><td>0.00%<\/td><\/tr><tr><td><strong>9-3-2026<\/strong><\/td><td>\u20b9146.00<\/td><td>\u20b90.00<\/td><td>\u20b9146.00<\/td><td>0.00%<\/td><\/tr><tr><td><strong>8-3-2026<\/strong><\/td><td>\u20b9146.00<\/td><td>\u20b90.00<\/td><td>\u20b9146.00<\/td><td>0.00%<\/td><\/tr><\/tbody><\/table><\/figure><p>As of 17th March 2026, <strong>the Novus Loyalty IPO GMP stands at \u20b90 per share, indicating<\/strong> the share will likely list at \u20b9146.00 on its tentative listing date, 25th March 2026.<\/p><p>GMP data is subject to change based on market trends and sentiments. You should check the live GMP status before applying for the <strong>Novus Loyalty IPO GMP<\/strong>. Stay informed with Univest for real-time insights into IPOs and their GMP trends.&nbsp;<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Novus_Loyalty_IPO_GMP_Review\"><\/span><strong>Novus Loyalty IPO GMP Review<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"536\" src=\"https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123205\/Novus-Loyalty-IPO-Review-1024x536.jpg\" alt=\"Novus Loyalty IPO GMP Review\" class=\"wp-image-63565\" srcset=\"https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123205\/Novus-Loyalty-IPO-Review-1024x536.jpg 1024w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123205\/Novus-Loyalty-IPO-Review-300x157.jpg 300w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123205\/Novus-Loyalty-IPO-Review-768x402.jpg 768w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123205\/Novus-Loyalty-IPO-Review-900x471.jpg 900w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123205\/Novus-Loyalty-IPO-Review-600x314.jpg 600w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123205\/Novus-Loyalty-IPO-Review-150x79.jpg 150w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123205\/Novus-Loyalty-IPO-Review.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><p>Check out the detailed <strong>Novus Loyalty GMP IPO <\/strong>review<strong> <\/strong>for a thorough understanding of its potential to report listing gains on 25th March 2026. The Novus Loyalty IPO review below will help you invest effectively to avoid significant losses. Explore more to make informed investment decisions on this IPO.&nbsp;<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Financial_Health\"><\/span><strong>Financial Health<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Assess a company&#8217;s financial performance to know about its ability to sustain a competitive edge. Thus, it is essential to understand the business&#8217;s economic growth and decline before applying for the Novus Loyalty IPO.<\/p><p>Novus Loyalty Limited&#8217;s revenue increased by 42.14%, from \u20b973.61 crore in March 2024 to \u20b9104.63 crore in March 2025. Moreover, the company&#8217;s PAT increased by 20.94% from \u20b92.96 crore in March 2024 to \u20b93.58 crore in March 2025.<\/p><p>Novus Loyalty IPO has shown consistent revenue growth, indicating the company&#8217;s financial stability. Moreover, brokers, investors, and RAs have a positive outlook for the Novus Loyalty IPO, with its tentative listing day set for 25th March 2026.&nbsp;<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Technical_Analysis\"><\/span><strong>Technical Analysis<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Several technical indicators are available to assess a company&#8217;s potential to deliver returns. Use the parameters mentioned below to analyse the technicals of the <strong>Novus Loyalty IPO<\/strong>.<\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Key Indicators<\/strong><\/td><td><strong>Value<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/univest.in\/blogs\/price-to-earnings-ratio-p-e-ratio\"><strong>PE Ratio (Price-to-Earnings)<\/strong><\/a><strong>&nbsp;<\/strong><\/td><td>49.89<\/td><\/tr><tr><td><a href=\"https:\/\/univest.in\/blogs\/earnings-per-share-eps-formula\"><strong>EPS (Earnings Per Share)<\/strong><\/a><\/td><td>2.93<\/td><\/tr><tr><td><strong>RoNW<\/strong><\/td><td>30.73%<\/td><\/tr><tr><td><a href=\"https:\/\/univest.in\/blogs\/return-on-capital-employed\"><strong>ROCE<\/strong><\/a><\/td><td>40.64%<\/td><\/tr><tr><td><strong>ROE<\/strong><\/td><td>36.30%<\/td><\/tr><tr><td><strong>EBITDA Margin<\/strong><\/td><td>10.91%<\/td><\/tr><tr><td><strong>Price to Book Value<\/strong><\/td><td>9.47<\/td><\/tr><tr><td><strong>Market Capitalisation<\/strong><\/td><td>\u20b9227.03 Cr.<\/td><\/tr><\/tbody><\/table><\/figure><p>The P\/E ratio of Novus Loyalty Limited shares is 49.89, and its Earnings Per Share (EPS) stands at 2.93. Thus, the <strong>Novus Loyalty IPO<\/strong> can deliver gains on its tentative listing date, 25th March 2026.&nbsp;<\/p><p><strong><em>Note<\/em><\/strong><em>: The data, as mentioned above, is taken from authentic sources and highlights pre-issue information. The PE ratio and EPS of Novus Loyalty Limited are subject to change after the IPO. Explore the table below to get post-issue updates on these two metrics.&nbsp;<\/em><\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Indicators<\/strong><\/td><td><strong>Pre-IPO<\/strong><\/td><td><strong>Post-IPO<\/strong><\/td><\/tr><tr><td><strong>PE Ratio<\/strong><\/td><td>49.89<\/td><td>19.56<\/td><\/tr><tr><td><strong>EPS&nbsp;<\/strong><\/td><td>2.93<\/td><td>7.47<\/td><\/tr><\/tbody><\/table><\/figure><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Novus_Loyalty_IPO_Subscription_Status\"><\/span><strong>Novus Loyalty IPO Subscription Status<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><strong>The Novus Loyalty IPO<\/strong> will open for bidding on 17th March 2026. The subscription status for this IPO is yet to be announced. Stay informed on this passage to check the live Novus Loyalty IPO Subscription Status.&nbsp;<\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Investor Categories<\/strong><\/td><td><strong>Shares Offered&nbsp;<\/strong><\/td><td><strong>Shares Percentage<\/strong><\/td><td><strong>Shares Subscribed<\/strong><\/td><td><strong>Subscription to the Times<\/strong><\/td><\/tr><tr><td><strong>Market Maker Shares Offered&nbsp;<\/strong><\/td><td>2,30,000<\/td><td>5.58%<\/td><td>Yet to be announced<\/td><td>Yet to be announced<\/td><\/tr><tr><td><strong>QIB Shares Offered&nbsp;<\/strong><\/td><td>19,40,000<\/td><td>47.09%<\/td><td>Yet to be announced<\/td><td>Yet to be announced<\/td><\/tr><tr><td><strong>NII (HNI) Shares Offered<\/strong><\/td><td>5,85,000<\/td><td>14.20%<\/td><td>Yet to be announced<\/td><td>Yet to be announced<\/td><\/tr><tr><td><strong>Retail Shares Offered&nbsp;<\/strong><\/td><td>13,65,000<\/td><td>33.13%<\/td><td>Yet to be announced<\/td><td>Yet to be announced<\/td><\/tr><tr><td><strong>Total Shares Offered&nbsp;<\/strong><\/td><td>41,20,000<\/td><td>100.00%<\/td><td>Yet to be announced<\/td><td>Yet to be announced<\/td><\/tr><\/tbody><\/table><\/figure><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"About_Novus_Loyalty_Limited\"><\/span><strong>About Novus Loyalty Limited<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"536\" src=\"https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123234\/Novus-Loyalty-IPO-Limited-1024x536.jpg\" alt=\"Novus Loyalty Limited\" class=\"wp-image-63566\" srcset=\"https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123234\/Novus-Loyalty-IPO-Limited-1024x536.jpg 1024w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123234\/Novus-Loyalty-IPO-Limited-300x157.jpg 300w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123234\/Novus-Loyalty-IPO-Limited-768x402.jpg 768w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123234\/Novus-Loyalty-IPO-Limited-900x471.jpg 900w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123234\/Novus-Loyalty-IPO-Limited-600x314.jpg 600w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123234\/Novus-Loyalty-IPO-Limited-150x79.jpg 150w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123234\/Novus-Loyalty-IPO-Limited.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><p>Novus Loyalty is a technology-driven company that offers loyalty and reward solutions to various industries such as Fintech, E-commerce, Software, Banking, FMCG, Real Estate, and many more. The company offers a state-of-the-art loyalty solution that is backed by the latest technology in the market. Novus Loyalty offers various loyalty and reward solutions that are either customizable or ready-to-use, such as point-based rewards, event-based rewards, cashback rewards, purchase-based rewards, and many more. The solutions are flexible and can integrate easily into existing infrastructures to provide a seamless customer experience across web, mobile, and physical environments.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Novus_Loyalty_Limited_Financials\"><\/span><strong>Novus Loyalty Limited Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>The company&#8217;s financial analysis is essential before applying for the<strong> Novus Loyalty IPO. <\/strong>See the table for Novus Loyalty Limited&#8217;s financials.&nbsp;<\/p><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Year Ended<\/strong><\/td><td><strong>30th Sep 2025 (in cr.)<\/strong><\/td><td><strong>31st March 2025 (in cr.)<\/strong><\/td><td><strong>31st March 2024 (in cr.)<\/strong><\/td><td><strong>31 Mar 2023 (in cr.)<\/strong><\/td><\/tr><tr><td><strong>Assets<\/strong><\/td><td>21.83<\/td><td>14.81<\/td><td>12.36<\/td><td>13.38<\/td><\/tr><tr><td><strong>Total Income<\/strong><\/td><td>71.43<\/td><td>104.63<\/td><td>73.61<\/td><td>59.61<\/td><\/tr><tr><td><strong>Profit After Tax<\/strong><\/td><td>5.80<\/td><td>3.58<\/td><td>2.96<\/td><td>0.55<\/td><\/tr><tr><td><strong>EBITDA<\/strong><\/td><td>7.79<\/td><td>5.69<\/td><td>4.82<\/td><td>2.27<\/td><\/tr><tr><td><strong>Net Worth<\/strong><\/td><td>18.89<\/td><td>13.09<\/td><td>9.50<\/td><td>6.54<\/td><\/tr><tr><td><strong>Reserves and Surplus<\/strong><\/td><td>6.64<\/td><td>13.08<\/td><td>9.49<\/td><td>6.53<\/td><\/tr><tr><td><strong>Total Borrowings<\/strong><\/td><td>&#8211;<\/td><td>&#8211;<\/td><td>0.82<\/td><td>3.53<\/td><\/tr><\/tbody><\/table><\/figure><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Explanation\"><\/span><strong>Explanation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Novus Loyalty Limited&#8217;s revenue increased by 42.14%, from \u20b973.61 crore in March 2024 to \u20b9104.63 crore in March 2025. Moreover, the company&#8217;s PAT increased by 20.94% from \u20b92.96 crore in March 2024 to \u20b93.58 crore in March 2025.<\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Novus_Loyalty_Limited_IPO_Promoter_Holdings\"><\/span><strong>Novus Loyalty Limited IPO Promoter Holdings<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Shareholding Pre-Issue<\/strong><\/td><td>95.62%<\/td><\/tr><tr><td><strong>Shareholding Post-Issue<\/strong><\/td><td>&#8211;<\/td><\/tr><\/tbody><\/table><\/figure><p><strong><em>Note<\/em><\/strong><em>: <\/em><em>The value will be calculated using Equity Dilution = Share Holding Pre Issue &#8211; Share Holding Post Issue<\/em><em>.<\/em><\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Aim_of_the_Novus_Loyalty_IPO\"><\/span><strong>Aim of the Novus Loyalty IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>The primary aim of the <strong>Novus Loyalty IPO<\/strong> is to raise \u20b960.15 crores, and the secondary objective is to:<\/p><ul class=\"wp-block-list\"><li>To fund expenditure towards the investment in upgrading, enhancing, and developing new products<\/li>\n\n<li>To Business Development and marketing activities, including manpower hiring<\/li>\n\n<li>For general corporate purposes and an unidentified inorganic acquisition<\/li><\/ul><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Should_I_Invest_in_the_Novus_Loyalty_IPO\"><\/span><strong>Should I Invest in the Novus Loyalty IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>Explore the pros and cons of Novus Loyalty to decide whether to apply or avoid the issue. These pros and cons might help you understand the IPO\u2019s efficiency in delivering profits over the coming decades.&nbsp;<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pros_of_the_Novus_Loyalty_IPO\"><\/span><strong>Pros of the Novus Loyalty IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><ul class=\"wp-block-list\"><li>The company has comprehensive loyalty solutions.<\/li>\n\n<li>The company has Quality assurance and quality certification<\/li>\n\n<li>The company has experienced promoters and a management team<\/li>\n\n<li>The company has Clients in international markets<\/li><\/ul><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Cons_of_the_Novus_Loyalty_IPO\"><\/span><strong>Cons of the Novus Loyalty IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><ul class=\"wp-block-list\"><li>The company relies heavily on a few clients.<\/li>\n\n<li>The company has no long-term contracts with customers.<\/li>\n\n<li>The company has technology and innovation risks.<\/li>\n\n<li>The company has cybersecurity and data privacy risks.<\/li><\/ul><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Apply_for_the_Novus_Loyalty_IPO\"><\/span><strong>How to Apply for the Novus Loyalty IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"536\" src=\"https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123256\/Apply-For-Novus-Loyalty-IPO-1024x536.jpg\" alt=\"Apply for the Novus Loyalty IPO\" class=\"wp-image-63567\" srcset=\"https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123256\/Apply-For-Novus-Loyalty-IPO-1024x536.jpg 1024w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123256\/Apply-For-Novus-Loyalty-IPO-300x157.jpg 300w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123256\/Apply-For-Novus-Loyalty-IPO-768x402.jpg 768w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123256\/Apply-For-Novus-Loyalty-IPO-900x471.jpg 900w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123256\/Apply-For-Novus-Loyalty-IPO-600x314.jpg 600w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123256\/Apply-For-Novus-Loyalty-IPO-150x79.jpg 150w, https:\/\/univest-blog.storage.googleapis.com\/blogs\/wp-content\/uploads\/2026\/03\/12123256\/Apply-For-Novus-Loyalty-IPO.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><p>Check the steps mentioned below to apply for Novus Loyalty Ltd.<\/p><ul class=\"wp-block-list\"><li><strong>Step 1<\/strong>: Conduct thorough research on the Novus Loyalty IPO GMP, subscription status, issue size, lot size, and other details.\u00a0<\/li>\n\n<li><strong>Step 2<\/strong>: Open a <a href=\"https:\/\/univest.in\/blogs\/demat-account\"><strong>demat account <\/strong><\/a>with Univest to access real-time insights on GMP and subscription status. You can also use your previous demat account by navigating to the IPO section.\u00a0<\/li>\n\n<li><strong>Step 3: <\/strong>Make a bid for 2 lots of 2,000 shares worth \u20b92,92,000.<\/li>\n\n<li><strong>Step 4<\/strong>: You will receive a mandate request after making a bid. Approve the request to proceed further.\u00a0\u00a0\u00a0\u00a0<\/li><\/ul><p><strong><em>Note<\/em><\/strong><em>: You can apply for the Novus Loyalty IPO across multiple demat accounts to increase your chances of allotment.&nbsp;<\/em><\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Check_the_Novus_Loyalty_IPO_Allotment_Status\"><\/span><strong>How to Check the Novus Loyalty IPO Allotment Status?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p>You can check for the Novus Loyalty IPO allotment in different ways. These include BSE and the registrar portal. Follow the steps below to check your allotment status online.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Check_On_BSE\"><\/span><strong><\/strong><strong>Check On BSE<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><ul class=\"wp-block-list\"><li>Visit the <a href=\"https:\/\/www.bseindia.com\/\" rel=\"nofollow noopener\" target=\"_blank\">BSE Official Site<\/a><\/li>\n\n<li>Navigate to the IPO Allotment Section.\u00a0<\/li>\n\n<li>Select Equity as the issue type.\u00a0<\/li>\n\n<li>Choose the Novus Loyalty <strong>IPO<\/strong>.\u00a0\u00a0<\/li>\n\n<li>Choose whether to proceed with the PAN number or the application number.<\/li>\n\n<li>Submit your details to get the allotment status online.\u00a0<\/li><\/ul><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Check_On_the_Registrar_Portal\"><\/span><strong><\/strong><strong>Check On the Registrar Portal<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><ul class=\"wp-block-list\"><li>Visit the <a href=\"https:\/\/ipostatus.kfintech.com\/\" rel=\"nofollow noopener\" target=\"_blank\">registrar portal.<\/a><\/li>\n\n<li>Click on the allotment option.<\/li>\n\n<li>Fill in the required details.<\/li>\n\n<li>Click on the submit button to know your<strong> Novus Loyalty IPO<\/strong> allotment status.<\/li><\/ul><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Lets_Wrap\"><\/span><strong>Let\u2019s Wrap<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><strong>Novus Loyalty IPO <\/strong>is a book-building issue of shares worth \u20b960.15 crore. The shares of Novus Loyalty Limited will be listed on the BSE and SME on its tentative listing date of 25th March 2026. Researching the Novus Loyalty IPO GMP and reviews is highly recommended to achieve your desired profitability. Brokers and investors have highlighted their pros and cons, so one must analyse them and decide accordingly.<\/p><p><strong><em>Open a demat account on Univest now to initiate your investment journey!<\/em><\/strong><\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"FAQs_on_Novus_Loyalty_IPO\"><\/span><strong>FAQs on Novus Loyalty IPO<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_is_the_Novus_Loyalty_IPO\"><\/span><strong>How is the Novus Loyalty IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Ans. Currently, on 17th March 2026, the <strong>Novus Loyalty GMP<\/strong> (Grey Market Premium) stands at \u20b90. It indicates that the estimated listing price could be \u20b9146.00 per share. It is a book-building IPO of \u20b960.15 per share. The face value of each Novus Loyalty share is \u20b9[10.&nbsp;<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_Novus_Loyalty_IPO_price\"><\/span><strong>What is the Novus Loyalty IPO price?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Ans. The <strong>Novus Loyalty IPO<\/strong> issue price band is set at \u20b9139 to \u20b9146 per share.&nbsp;<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Is_the_Novus_Loyalty_IPO_a_good_investment\"><\/span><strong>Is the Novus Loyalty IPO a good investment?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Novus Loyalty Limited&#8217;s revenue increased by 42.14%, from \u20b973.61 crore in March 2024 to \u20b9104.63 crore in March 2025. Moreover, the company&#8217;s PAT increased by 20.94% from \u20b92.96 crore in March 2024 to \u20b93.58 crore in March 2025.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_is_the_registrar_of_the_Novus_Loyalty_IPO\"><\/span><strong>Who is the registrar of the Novus Loyalty IPO?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Ans. Kfin Technologies Limited is the registrar for the Novus Loyalty IPO, awaiting the allotment process and initiating refunds. For any queries regarding the Novus Loyalty allotment and refund, you can contact Kfin Technologies Limited at <a href=\"mailto:novus.ipo@kfintech.com\">novus.ipo@kfintech.com<\/a>&nbsp; or at 04067162222 or 04079611000.<\/p><h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_issue_size_of_the_Novus_Loyalty_IPO\"><\/span><strong>What is the issue size of the Novus Loyalty IPO?&nbsp;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3><p>Ans. <strong>Novus Loyalty IPO<\/strong> is a bookbuilding IPO of \u20b960.15 crores. Moreover, the IPO is set to open on 17th March 2026 and close on 20th March 2026.&nbsp;<\/p><p><strong><em>Disclaimer<\/em><\/strong><em>: The above information is compiled from authentic sources and is just for informational purposes. To have detailed information about the Novus Loyalty IPO, download the Novus Loyalty IPO RHP and Novus Loyalty IPO DRHP. Conduct your research before investing in IPOs to avoid significant losses. You can also consult your financial advisor.<\/em><\/p><h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Recent_Articles\"><\/span><strong>Recent Articles<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2><p><a href=\"https:\/\/univest.in\/blogs\/srinibas-pradhan-constructions-ipo-listing-preview\">Srinibas Pradhan Constructions IPO Listing Preview: What to Expect Now?<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/rajputana-stainless-ipo-allotment-status\">Rajputana Stainless IPO Allotment Status Check Online: GMP, Subscription, Price, and More<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/apsis-aerocom-ipo-subscription-status-day-1\">Apsis Aerocom IPO Subscription Status Day 1<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/raajmarg-infra-investment-trust-ipo-subscription-status-day-1\">Raajmarg Infra Investment Trust IPO Subscription Status Day 1<\/a><\/p><p><a href=\"https:\/\/univest.in\/blogs\/innovision-ipo-subscription-status-day-2\">Innovision IPO Subscription Status Day 2&nbsp;<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Novus Loyalty IPO is open for bidding from 17th March 2026 to 20th March 2026. It is a bookbuilding issue IPO of \u20b960.15 crore, comprising an entirely fresh issue of 0.33 crore and an offer for sale of 0.08 crore shares. 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