Novus Loyalty IPO, March 18 -- The initial public offering (IPO) of Novus Loyalty entered its second day of bidding on Wednesday, March 18, garnering a decent response from investors. The offer opened on March 17 and will close on March 20.

The SME IPO, worth Rs.60.15 crore, is a mix of fresh share sale of Rs.48 crore and an offer for sale of around 12 crore. The company has fixed the Novus Loyalty IPO price band at Rs.139 to Rs.146 per share.

Investors can apply for the offer in lots of 1000 shares, with retailers required to apply for at least two lots, resulting in a minimum Rs.2,92,000 investment at the upper end of the price band.

Novus Loyalty, which provides loyalty and rewards solutions, plans to use the fresh proceeds from the...