Austere Systems Launches Rs 15.57 Crore IPO on BSE SME Platform
Austere Systems, a software development and IT services company, has opened its Initial Public Offering (IPO) for subscription. The Rs 15.57 crore book-built issue has a price band of Rs 52 - Rs 55 per share and will remain open until September 8. The IPO comprises 28.3 lakh equity shares, with anchor investors already investing Rs 4.40 crore. The company specializes in IT services for rural and semi-urban markets. Austere Systems plans to use Rs 11.6 crore of the proceeds for working capital, with the remainder for general corporate purposes. The shares are expected to be listed on the BSE SME platform on September 11.
*this image is generated using AI for illustrative purposes only.
Austere Systems, a software development and IT services company, has opened its Initial Public Offering (IPO) for subscription. The book-built issue, valued at Rs 15.57 crore, has garnered significant interest in the grey market, commanding a premium of approximately 28%.
IPO Details
- Issue Size: Rs 15.57 crore
- Price Band: Rs 52 - Rs 55 per share
- Subscription Period: Open until September 8
- Allotment Date: Expected on September 9
- Listing Date: Scheduled for September 11 on the BSE SME platform
- Minimum Investment: Rs 2.2 lakh for 4,000 shares
Offer Structure
The IPO comprises 28.3 lakh equity shares. Notably, anchor investors have already shown confidence in the company by investing Rs 4.40 crore, purchasing 8 lakh shares on September 2.
Company Profile
Austere Systems specializes in providing a range of IT services, including:
- Software development
- Mobile and web applications
- SaaS platforms
- ERP solutions
- Digital transformation services
The company has a particular focus on serving rural and semi-urban markets.
Financial Performance
| Fiscal Year | Total Income | Net Profit |
|---|---|---|
| FY25 | Rs 18.86 crore | Rs 4.01 crore |
| FY24 | Rs 18.66 crore | Rs 4.15 crore |
While the company saw a slight increase in total income, there was a marginal decrease in net profit in the most recent fiscal year.
Use of Proceeds
Austere Systems plans to utilize the IPO proceeds as follows:
- Working Capital: Rs 11.6 crore
- General Corporate Purposes: Remaining amount
This strategic allocation aims to strengthen the company's operational capabilities and support its growth initiatives.
The launch of Austere Systems' IPO on the BSE SME platform marks a significant milestone for the company. With its focus on software development and IT services, particularly in rural and semi-urban markets, the company is positioning itself to capitalize on the growing demand for digital solutions in these areas.
19
