Austere Systems IPO Opens Wednesday

New Delhi, Sep 1 (PTI) IT solutions provider Austere Systems on Monday said it has fixed the price band at Rs 52-55 per share for the Rs 15.56 crore initial share sale which will hit the capital markets on September 3.

The initial public offering (IPO) will conclude on September 8. The bidding for the anchor portion will be open for a day on Tuesday, Austere Systems said in a statement.

Post the issue, the company's shares will be listed on the BSE SME platform, with a tentative listing date of September 11.

The IPO is entirely a fresh issue of 28.30 lakh equity shares aggregating to Rs 15.57 crore.


Proceeds from the fresh issue to the tune of Rs 11.60 crore will be utilised by the company for funding the working capital requirements of the company and the balance for the general corporate purposes.

Founded in 2015, Pune-based Austere Systems specialised in an extensive array of services, including software development, Software as a Service (SaaS), data analytics and AI services, mobile application development, and process automation.

On the financial front, the company reported a total income of Rs 18.86 crore and posted a profit after tax of Rs 4.01 crore in FY25.

GYR Capital Advisors is the sole-book running lead manager while KFin Technologies is the registrar for the IPO.