Austere Systems IPO: Over 131x subscribed ahead of tomorrow's close
Austere Systems's IPO, priced at ₹55 per share, is seeing wild demand—oversubscribed by 131.54 times as of September 8.
Over 24 lakh shares were bid for, compared to just under 19 lakh on offer.
The IPO closes September 9, with allotment on September 10 and listing set for September 12.
Retail, NIIs go overboard; GMP at ₹80
Retail investors jumped in big, subscribing nearly 176 times their quota; non-institutional investors went even higher at almost 193 times.
Even institutional buyers joined in, though at a more modest rate of about six times.
The gray market premium is up around 45%, hinting at possible listing gains when trading starts.
More about the company
Founded in 2013, Austere Systems offers IT services like software development, SaaS platforms, and AI automation—serving startups and enterprises.
Financially speaking: revenue grew just 1% last year while profit dipped by about 3%.
Key details to keep in mind
Minimum investment for the IPO is ₹1.1 lakh (for a lot of 2,000 shares).
GYR Capital Advisors leads the issue; Kfin Technologies is registrar; SKI Capital Services and Wiinance Financial Services are market makers.