Novus Loyalty Limited has formally disclosed the receipt of an award notification from Bank of Abyssinia for a USD 407,500 contract under SEBI regulatory requirements. The company announced this significant business development through a regulatory filing dated April 10, 2026.

Contract Award Details

The formal notification confirms Novus Loyalty's successful bid for implementing an Enterprise-Wide Loyalty Program Management Solution (EWLPMS) for Bank of Abyssinia, located in Addis Ababa, Ethiopia. This represents a major milestone in the company's international expansion strategy.

Service Components and Terms

The comprehensive contract encompasses multiple service components designed to deliver a complete loyalty management solution. The agreement includes licensing, implementation, customization, training, and ongoing support services for the banking institution.

Regulatory Compliance and Disclosure

Novus Loyalty's disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that neither promoters nor group companies have any interest in Bank of Abyssinia, and the contract does not constitute a related party transaction.

The formal award notification strengthens Novus Loyalty's position in the international loyalty management services market, demonstrating the company's capability to deliver enterprise-scale solutions across global markets. This Ethiopian banking engagement adds significant value to the company's growing international client portfolio.

Novus Loyalty's initial public offering has concluded its subscription period, achieving an overall subscription rate of 1.14x. The company's public issue witnessed varied participation across different investor categories, indicating mixed market sentiment.

Subscription Performance Across Categories

The detailed subscription breakdown reveals distinct patterns of investor interest across various segments:

Retail and bHNI Categories Lead Participation

Retail investors demonstrated strong confidence in Novus Loyalty, subscribing to 1.37x of the shares allocated to their category. This level of retail participation indicates positive sentiment among individual investors toward the company's business prospects.

The bHNI (big High Net Worth Individual) category mirrored retail enthusiasm, achieving an identical 1.37x subscription rate. This alignment between retail and bHNI investors suggests broad-based appeal across different investment scales.

Institutional and sHNI Response

Qualified Institutional Buyers showed more cautious participation, with their portion receiving 0.89x subscription. While falling short of full subscription, this level indicates reasonable institutional interest in the offering.

The sHNI (small High Net Worth Individual) category recorded the lowest participation at 0.16x subscription, suggesting limited appeal among this specific investor segment. Additionally, employee participation remained at zero, indicating no uptake from the company's workforce in the offering.

The overall subscription rate of 1.14x reflects moderate market reception for Novus Loyalty's public issue, with retail and bHNI investors driving the majority of the demand.