Austere Systems IPO subscribed nearly 5 times so far on day 1; check price band, lot size and key dates

Austere Systems IPO: Information technology solutions provider Austere Systems has been subscribed 4.7 times so far on the opening day of bidding on Wednesday, September 3. The issue will conclude on September 8. The price band has been fixed at ₹52 to ₹55 per share.

The category for non-institutional investors (NIIs) received 2.28 times the subscription, while the quota for the individual investors category was booked 6.77 times, according to the BSE data until 3:03 pm. The qualified institutional buyer portion attracted 3.52 times subscription.

The initial public offering is purely a fresh issuance of 28.30 lakh equity shares totalling ₹15.57 crore. There is no offer for sale (OFS) component.

The net proceeds from the fresh issue will be used for funding working capital requirements and general corporate purposes.

Austere Systems IPO lot size

A lot consists of 2,000 shares. Individual investors can apply for a minimum of 4,000 shares. For high net worth individuals, the least investment is 6,000 shares.

Austere Systems IPO timeline: Allotment and listing dates

GYR Capital Advisors Private Limited is the book-running lead manager of the issue, while KFin Technologies is the registrar.

About Austere Systems

Austere Systems, founded in 2015, specialises in various services, including software development, mobile application development, data analytics and AI services, Software as a Service (SaaS), and process automation.

The company posted revenue from operations of ₹18.62 crore and a profit after tax (PAT) of ₹4.01 crore in FY25.

Austere Systems IPO GMP