Pune-based IT solutions service provider Austere Systems is set to open its initial share sale for public subscription next week on September 3 with price band at Rs 52-55 per share, with the issue set to close on September 8.
The company will finalise IPO share allotment by September 9 and tentatively list its equity shares on the BSE SME on September 11.
Founded in 2015 by Shikhir Gupta and Rahul Teni, Austere Systems aims to raise Rs 15.56 crore via the initial public offering (IPO) which consists of entirely fresh issue of 28.3 lakh shares. Half of the public issue size is reserved for qualified institutional buyers, 35 percent for retail investors, and the remainder 15 percent for non-institutional investors.
The company that competes with listed entities like ASM Technologies, Moschip, Infobeans, Onward, and 3i Infotech intends to spend Rs 11.6 crore of the IPO proceeds for working capital requirements and the balance amount for general corporate purposes.
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The financial performance of Austere Systems was not impressive, with the net profit at Rs 4.01 crore for the year ended March 2025, down 3.2 percent versus a year ago. Revenue during the same period increased just 0.3 percent to Rs 18.62 crore, up from Rs 18.56 crore.
The sole merchant banker handling the Austere Systems IPO is GYR Capital Advisors.
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