Novus Loyalty SME IPO Subscription Status
The Novus Loyalty SME IPO closed on 20 March 2026 with an overall subscription of 1.63x based on shares applied. QIB demand came in at 1.38x, NII at 1.56x, and retail at 1.82x.
Allotment will be finalised on 23 March 2026. The stock is scheduled to list on NSE and BSE on 25 March 2026.
Issue Price
Rs 146.00
GMP Today
-
Overall Subscription
1.63x
Issue Size
₹56.79 Cr
Allotment Date
23 Mar 2026
Listing Date
25 Mar 2026
Novus Loyalty SME IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 146.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 11.83 Cr | Rs 16.28 Cr | 1.38x |
| FII | - | - | - |
| DFI | - | Rs 2.51 Cr | - |
| Mutual Funds | - | - | - |
| Other | - | Rs 13.77 Cr | - |
| NII | Rs 8.54 Cr | Rs 13.34 Cr | 1.56x |
| bNII (above Rs 10L) | Rs 5.69 Cr | Rs 10.83 Cr | 1.90x |
| Corporate | - | Rs 3.36 Cr | - |
| Individual | - | Rs 7.48 Cr | - |
| Other | - | - | - |
| sNII (Rs 2L to Rs 10L) | Rs 2.85 Cr | Rs 2.51 Cr | 0.88x |
| Corporate | - | - | - |
| Individual | - | Rs 2.47 Cr | - |
| Other | - | Rs 4.38 L | - |
| IND | Rs 19.93 Cr | Rs 36.21 Cr | 1.82x |
| Fixed price | - | Rs 36.21 Cr | - |
| Total | Rs 40.30 Cr | Rs 65.83 Cr | 1.63x |
Novus Loyalty SME IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 810 | 10 | 0.01x |
| FII | - | - | - |
| DFI | - | 1 | - |
| Mutual Funds | - | - | - |
| Other | - | 9 | - |
| NII | 195 | 78 | 0.40x |
| bNII (above Rs 10L) | 130 | 25 | 0.19x |
| Corporate | - | 1 | - |
| Individual | - | 24 | - |
| Other | - | - | - |
| sNII (Rs 2L to Rs 10L) | 65 | 53 | 0.82x |
| Corporate | - | - | - |
| Individual | - | 52 | - |
| Other | - | 1 | - |
| IND | 682 | 1,240 | 1.82x |
| Fixed price | - | 1,240 | - |
| Total | 1,687 | 1,328 | 0.79x |
What Do These Subscription Numbers Mean?
A subscription of 1.63x means the IPO received bids for 2 times the number of shares available. For every 2 applications, only 1 can receive an allotment.
Here is what each category number tells you:
QIB at 1.38x: This is the strongest signal on the page. QIBs are institutional investors, mutual funds, foreign institutions, and banks. When they subscribe at 1.38x, it reflects serious institutional conviction.
NII at 1.56x: NII includes high net worth individuals applying above Rs 2 lakh. At 1.56x, allotment probability for NII applicants is very low. The bNII segment came in at 1.90x and sNII at 0.88x.
Retail at 1.82x: Retail investors applying up to Rs 2 lakh saw 1.82x subscription. Allotment in the retail category is done by lottery when oversubscription exceeds 1x. At 1.82x applications received, roughly 1 in 2 retail applicants can expect an allotment (~55%).
Novus Loyalty SME IPO Allotment Chances
Based on the final subscription data, here is a realistic view of allotment probability by category.
Retail Category: Retail subscription came in at 1.82x based on shares applied and 1.82x based on applications. In the retail category, SEBI mandates a minimum of one lot per applicant when possible. Allotment is done by lottery. At 1.82x applications received, approximately 1 in 2 retail applicants can expect an allotment. Applying from multiple accounts does not improve individual chances but increases household probability if each account is eligible.
NII Category: NII allotment is proportional, not by lottery. At 1.56x, an NII applicant applying for the minimum NII lot can expect a very small proportional allotment. Larger NII applications receive proportionally more shares but the effective return per rupee invested is diluted significantly at this oversubscription level.
QIB Category: QIB allotment is discretionary and handled by the book running lead managers. Retail investors do not participate in this category.
Check the Novus Loyalty SME IPO Allotment Status page from 23 March 2026 for your allotment result.
Novus Loyalty SME IPO Day-wise Subscription
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 17 Mar 2026 | 0.76x | 0.45x | 1.04x | 0.83x |
| Day 2 - 18 Mar 2026 | 0.89x | 0.09x | 1.22x | 0.88x |
| Day 3 - 19 Mar 2026 | 0.89x | 0.58x | 1.38x | 1.06x |
| Day 4 - 20 Mar 2026 | 1.38x | 1.17x | 1.82x | 1.55x |
Novus Loyalty SME IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 17 March 2026 |
| IPO Close Date | 20 March 2026 |
| Allotment Date | 23 March 2026 |
| Refund Initiation | 24 March 2026 |
| Share Credit to Demat | 24 March 2026 |
| Listing Date | 25 March 2026 |
| Minimum Investment | Rs 2,92,000.00 |
| Lot Size | 1000 shares |
About Novus Loyalty SME
No company information available
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors
High net worth individuals applying above Rs 2 lakh. Divided into bNII (above Rs 10 lakh) and sNII (Rs 2 lakh to Rs 10 lakh). NII allotment is proportional.
IND - Individual Investors
Investors applying up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Minimum one lot per successful applicant.
Novus Loyalty SME IPO Subscription FAQs
What is the current subscription status of Novus Loyalty SME?
Novus Loyalty SME IPO closed on 20 March 2026 with an overall subscription of 1.63x based on shares applied. QIB subscribed 1.38x, NII 1.56x, and retail 1.82x.
What are the allotment chances for retail investors?
At 1.82x applications received in the retail category, approximately 1 in 2 retail applicants can expect an allotment. Allotment is done by lottery in the retail category when oversubscribed.
When will Novus Loyalty SME allotment be finalised?
Allotment will be finalised on 23 March 2026. You can check your allotment status on the Novus Loyalty SME IPO Allotment Status page from that date.
What happens after subscription closes?
After the subscription closes, the registrar processes all applications and finalises allotment on 23 March 2026. Refunds for unsuccessful applications are typically initiated before listing. Shares are credited to demat accounts before the listing date on 25 March 2026.
Can I apply after subscription closes?
No. The subscription window closed on 20 March 2026. All applications must be submitted during the open period. Late applications are rejected automatically.
What is the difference between QIB, NII, and IND subscription?
QIB includes institutional investors such as mutual funds, FIIs, and banks. NII includes high net worth individuals applying above Rs 2 lakh. IND includes individual investors applying up to Rs 2 lakh. Each category has separate reservation and different allotment rules.
How does subscription affect allotment chances?
Higher oversubscription means fewer applicants receive allotment. In the retail category, allotment is by lottery. In the NII category, allotment is proportional. At 1.63x overall subscription, competition for shares is moderate.
What is the issue size and lot size for Novus Loyalty SME?
Issue size is ₹56.79 Cr. Lot size is 1000 shares. Minimum investment at the issue price of Rs 146.00 is Rs 2,92,000.00 per lot (minimum 2 lots for SME).
For allotment results from 23 March 2026, visit the Novus Loyalty SME IPO Allotment Status page. For listing day updates on 25 March 2026, download the IPOwiz App.
Reviewed by Dinesh Agrawal
15+ years in Indian capital markets and IPO research. Subscription data verified before publish.