Austere Systems Launches IPO with Rs 15.56 Crore Share Sale
Austere Systems has set a price band of Rs 52-55 per share for its Rs 15.56 crore IPO, opening on September 3 and ending on September 8. The company plans to use the raised funds for working capital and general corporate expenses. It specializes in software development and AI services.
- Country:
- India
In a strategic move to bolster its financial standing, Austere Systems has announced the launch of its initial public offering (IPO) priced between Rs 52-55 per share, aiming to generate Rs 15.56 crore. The IPO, set to open on September 3, will close on September 8.
Reportedly, the allotment of shares marks a significant milestone for the Pune-based software solutions firm, as its shares prepare to debut on the BSE SME platform on September 11.
Austere Systems, founded in 2015, provides a wide range of services, including SaaS and AI. The funds raised will be allocated primarily for working capital, with Rs 11.60 crore of the proceedings earmarked for this purpose. The company's impressive FY25 figures reveal a total income of Rs 18.86 crore and a net profit of Rs 4.01 crore.
(With inputs from agencies.)
Google News