Novus Loyalty Opens Rs 60 Crore IPO on BSE SME Platform with Moderate Subscription

Novus Loyalty launched its initial public offering (IPO) on March 17 to raise Rs 60 crore via the BSE SME platform, with a price band of Rs 139-146 per share. The issue includes a fresh share sale and an offer for sale by existing shareholders, closing on March 20. The IPO received Rs 16.5 crore from anchor investors before opening. Subscription levels are modest, with retail investors bidding 0.28 times and non-institutional investors 0.04 times, while qualified institutional buyers remain unsubscribed. Shares are expected to list on March 25.