SME IPO: Austere Systems lists at 37% premium on BSE
Austere Systems just debuted on the BSE SME platform, with shares opening at ₹75.55—about 37% higher than the IPO price of ₹55.
The company raised ₹15.57 crore by issuing 28 lakh new shares.
Glamorous subscription numbers for the IPO
The IPO, open from September 3 to 9, was a hit—subscribed an impressive 1,076.99 times overall.
Retail investors alone subscribed 1,096.81 times, and non-institutional investors went even higher at 2,149.19 times.
While the gray market hinted at a possible ₹97 listing price, shares actually listed a bit lower.
Company focuses on IT services, especially in rural India
Started in 2013, Austere Systems is all about IT services—think software development, SaaS tools, mobile and web apps, database management, e-commerce, digital transformation, data/document management, AI-driven automation, ERP solutions, business process outsourcing, IT consulting, and software reselling services.
They work with startups and big companies in India and abroad, focusing on tapping underserved rural markets in India across private and government sectors.
What will the company do with IPO funds?
Funds from the IPO will help cover working capital needs and general business purposes.
The issue was managed by GYR Capital Advisors with Kfin Technologies as registrar; SKI Capital Services and Wiinance Financial Services supported as market makers.
Just before launch, Austere also secured ₹4.4 crore from anchor investors on September 2.