Company Overview

Novus Loyalty Limited (formerly Clavax Technologies Private Limited, CIN: U72900HR2011PLC127344) is an AI-powered loyalty, rewards, and customer engagement technology company enabling enterprises to build scalable retention ecosystems. The company operates from 727, Udyog Vihar, Phase 5, Gurugram, Haryana 122016, India.

IPO Details

Novus Loyalty launched its SME IPO on the BSE SME platform in March 2026 with an issue size of ₹60.15 crore. The IPO opened on March 17, 2026, and the company was successfully listed on March 25, 2026. The price band was ₹139-146 per share, with the final issue price set at ₹146 per share. The post-IPO market capitalization stood at ₹227+ crore.

Financial Performance (Audited Figures in ₹ Lakhs)

Profit & Loss Statement

  • FY26 Revenue from Operations: ₹12,741.95 (FY25: ₹10,462.47; FY24: ₹7,329.18)
  • FY26 Total Income: ₹12,772.72 (including other income of ₹30.77)
  • FY26 EBITDA: ₹1,233.08 with EBITDA margin of 9.68% (FY25: ₹568.68, 5.44%; FY24: ₹503.40, 6.87%)
  • FY26 PAT: ₹928.46 with PAT margin of 7.29% (FY25: ₹373.61, 3.57%; FY24: ₹300.88, 4.11%)
  • FY26 Depreciation: ₹21.57; Interest Cost: ₹333

Balance Sheet (As at March 31, 2026)

  • Total Equity: ₹6,151.74 (Equity Share: ₹1,555.02; Other Equity: ₹4,596.72)
  • Non-Current Liabilities: ₹77.28
  • Current Liabilities: ₹1,007.72
  • Total Assets: ₹7,236.74
  • Cash & Cash Equivalents: ₹1,037.18
  • Bank Balances: ₹5,125.21
  • Trade Receivables: ₹187.27
  • Inventories: ₹349.01

Cash Flow Statement

  • Net cash from operating activities: ₹1,957.92
  • Net cash from investing activities: ₹28.99
  • Net cash from financing activities: ₹3,981.21
  • Net increase in cash & cash equivalents: ₹5,968.12
  • Cash and cash equivalents at end of period: ₹6,162.38

Business Operations & Capabilities

Novus Loyalty serves 100+ enterprise customers with 77+ employees and processes 40+ crore transactions per month. The platform serves 4+ crore consumers with presence across India and expanding international footprint.

Key Business Verticals

  • Technology Solutions: Enterprise-grade loyalty platform with AI-driven personalization
  • Redemption Ecosystem: Large-scale rewards marketplace
  • Merchant Promotions: Merchant-funded campaigns and offer management
  • Digital Voucher Solutions: Gift cards and prepaid instruments distribution

Deployment Models

  • On-Premise Deployment: Dedicated enterprise infrastructure with enhanced data control
  • SaaS Deployment: Cloud-based infrastructure with faster implementation

Product Portfolio

  • Point-Based Rewards Programs
  • Tier-Based Loyalty Programs (Silver, Gold, Platinum)
  • Cashback & Discount Programs
  • Referral Rewards Programs
  • Coalition Loyalty Programs
  • Gamified Loyalty Solutions
  • Employee Recognition Programs

Recent Contract Wins

Central Bank of India

Awarded an ₹88 crore loyalty and customer engagement mandate, strengthening presence in banking sector with long-term recurring revenue opportunities through ongoing campaign management.

Bank of Abyssinia (Addis Ababa, Ethiopia)

Strategic international partnership with purchase order valued at approximately ₹4 crore, including technology mandate and long-term recurring revenue through campaign execution.

Industry Recognition & Awards

  • Excellence in Finance Award at FiNext 2024
  • Loyalty Solutions Excellence Award for Banking, E-commerce & Retail at FiNext Conference
  • Major Aspirant in Everest Group's Loyalty Platform PEAK Matrix® Assessment 2025
  • AI-Powered Loyalty Transformation Award at Loyalty Bharat Confex & Awards 2025
  • BFSI & FinTech Loyalty Excellence Award at Loyalty Bharat Confex & Awards 2025

Certifications & Compliance

  • ISO/IEC 27001:2022 for information security management
  • CMMI Maturity Level 3 for process maturity framework
  • OWASP Security Guidelines alignment
  • PCI DSS Compliance for secure payment processing

Growth Strategy (Next 2-3 Years)

  • International expansion focusing on emerging global markets
  • AI-powered loyalty innovation enhancing predictive engagement
  • Enterprise client acquisition across large enterprise and banking sectors
  • Ecosystem expansion strengthening merchant and partner network
  • SaaS growth acceleration scaling cloud-based deployments

Management Team

  • Deepak Tomar: CEO & Whole-Time Director
  • Sweta Singh: CFO
  • Vibhore Rastogi: Not specified in document
  • Rajesh Surekha: Independent Director
  • Mukesh Makkar: Company Secretary
  • Sushma Samarth: Independent Director
  • Pooja Kansal: Independent Director
  • Satyam Kumar: Product Head
  • Ranjan Sharma: VP Sales
  • Neeraj Solanki: Marketing Head

Industry Overview

The global loyalty management market is valued at $15 billion with 10-15% CAGR growth, driven by digital transformation and AI-led personalization. Key growth sectors include BFSI (30%), Retail & E-commerce (25%), Travel & Hospitality (15%), and emerging sectors like Healthcare & Wellness (7%).

#Tags: #NovusLoyalty #IPO #BSE_SME #LoyaltyTechnology #FinancialUpdate #Neutral