August 28, 2025
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Austere Systems IPO Key Dates
| Anchor Investor Subscription | |
| IPO opens on | 3 September 2025 |
| IPO Closes on | 8 September 2025 |
| Allotment on | 9 September 2025 |
| Credit of shares on | 10 Septermber 2025 |
| Tentative Listing on | 11 September 2025 |
Austere Systems IPO Condenses Verdict
Austere Systems Ltd., incorporated in 2013, is an IT services and software development company offering SaaS, ERP, AI, automation, and digital solutions. Financials show steady growth with FY25 PAT of Rs. 4.01 crore on revenue of Rs. 18.86 crore.
However, receivables of Rs. 8.68 crore and cash/bank of Rs. 6.91 crore versus average monthly revenue of Rs. 1.55 crore indicate stretched working capital, making this IPO somewhat risky. At the upper price of Rs. 55, valuations appear moderate, but investors must weigh growth potential against liquidity risk.
Final Subscription Tally
| Size Rs. 46.80 Crore | ||||
| QIB | NII x | RII x | Total x | Applications |
| Subscription Review: |
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About Austere Systems
Austere Systems Ltd. (ASL), incorporated in 2013, is a technology company engaged in providing software development, SaaS solutions, IT consulting, BPO, ERP, AI services, digital transformation and process automation. The company caters to both Indian and global clients, with a special focus on underserved rural markets across government and private sectors.
Its service portfolio spans:
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Mobile Applications: iOS, Android, hybrid & HTML5 app development.
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Web Applications: Custom web solutions to enhance online presence.
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IT Staff Augmentation: Recruitment solutions across permanent, temporary & contract staffing.
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Digital Marketing: SEO, SEM, PPC, content, and social media campaigns.
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Managed Services: IT infrastructure monitoring, service desk & unified communications.
The company also engages in software reselling and database/document management solutions, providing an end-to-end digital ecosystem for businesses.
As of July 31, 2025, ASL employs 123 professionals, including senior executives, engineers, developers, and support staff, strengthening its ability to deliver scalable technology services.
Austere Systems IPO Details
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Sector: |
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| IPO opens on | 3 September 2025 |
| IPO closes on | 8 September 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 28,30,000 Shares / Rs 15.57 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | 142,000 Shares |
| Net offer to Public | 26,88,000 Shares Rs. 14.78 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 52-55 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 2000 Shares |
| Listing will at | BSE SME |
How shares are being offered
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 1,42,000 (5.02%) |
| QIB Shares Offered | 13,36,000 (47.21%) |
| NII (HNI) Shares Offered | 4,08,000 (14.42%) |
| Retail Shares Offered | 9,44,000 (33.36%) |
| Total Shares Offered | 28,30,000 (100.00%) |
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 4,000 | ₹2,20,000 |
| Retail (Max) | 2 | 4,000 | ₹2,20,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,30,000 |
| S-HNI (Max) | 9 | 18,000 | ₹9,90,000 |
| B-HNI (Min) | 10 | 20,000 | ₹11,00,000 |
Who are the Promoters of Austere Systems IPO?
The promoters hold 91.67% of the pre-IPO capital
What are the Objects of Austere Systems IPO?
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
+Funding the working capital requirements of the company Rs.11.60 Crore
+General Corporate purposes
Austere Systems IPO Lead Managers
GYR Capital Advisors Pvt ltd
| Registered Office of the Company |
| Austere Systems Ltd. Office 301-303, A Square, Plot No. 34 ADC, Sector 26, Pradhikaran, Pune, Maharashtra, 411044 Email: compliance@austere.co.in |
| Who is the Registrar to the IPO? Kfin Technologies ltd |
Austere Systems Financials Snapshot
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 18.63 | 12.23 | 8.6 |
| Total Income | 18.86 | 18.66 | 15.4 |
| Profit After Tax | 4.01 | 4.15 | 1.77 |
| EBITDA | 6.05 | 6.28 | 2.88 |
| Net Worth | 16.27 | 9 | 4.85 |
| Reserves and Surplus | 8.62 | 8.99 | 4.84 |
| Total Borrowing | 0.48 | 0.44 | 0.79 |
| Amount in Rs. Crore | |||
Performance Indicators
| KPI | Values |
| ROE | 31.76% |
| ROCE | 33.12% |
| Debt/Equity | 0.03 |
| RoNW | 24.66% |
| PAT Margin | 21.55% |
| EBITDA Margin | 32.06% |
| Price to Book Value | 2.58 |
| EPS | 5.25 |
| PE RAtio | 10.48 |
How Austere Systems IPO compares with the Peers?
| Company Name | P/E (x) | RoNW (%) |
| Austere Systems | 24.66 | |
| ASM Technologies | 167.41 | 15.18 |
| Moschip Technologies | 99.53 | 10.2 |
| Infobeans Technologies | 43.53 | 11.43 |
| Onward Technologies | 27.83 | 12.07 |
| 3i Infotech | 15.23 | 8.26 |
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Austere Systems IPO Review
by Paresh Gordhandas, CA & Research Analyst
Business Overview
Austere Systems Ltd. (ASL), established in 2013, provides software development, SaaS, ERP, AI solutions, digital transformation, and IT consulting. It caters to both global and Indian clients, with special attention to underserved rural markets in India.
Service Portfolio
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Mobile & Web Apps – scalable solutions for enterprises & startups
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ERP & SaaS Platforms – customized IT systems for business processes
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AI & Automation – data analytics, process automation, document management
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Digital Marketing & BPO – SEO, SEM, staffing and outsourcing solutions
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Managed Services – infrastructure monitoring and support
Workforce Strength
As of July 31, 2025, ASL employed 123 professionals including developers, engineers, and senior executives.
The company has remained profitable for three consecutive years. PAT margins are healthy at ~21% in FY25. Borrowings are negligible.
Risk Factor – Receivables
As on March 31, 2025, ASL reported trade receivables of Rs. 8.68 crore and cash/bank balance of Rs. 6.91 crore against an average monthly revenue of Rs. 1.55 crore. This is considered high, indicating stretched collections and dependency on timely client payments.
Chanakya Verdict
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Positives: Consistent profits, debt-light structure, diversified IT services.
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Concerns: Elevated receivables, modest revenue base.
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Guidance: Investors with higher risk appetite may consider applying for listing gains, while conservative investors may wait and watch post-listing performance.
Moderate listing gains are possible if SME sentiment stays positive, but receivable risk tempers enthusiasm.
ASL has reported profits for the last 3 years, with FY25 PAT at Rs. 4.01 crore.pens on August 8, 2025, and closes on August 12, 2025.
The high level of trade receivables (Rs. 8.68 crore) is a major risk, impacting working capital.
The IPO is for Rs. 15.57 crore at a price band of Rs. 52–55.
Only investors with high-risk appetite may apply. Conservative investors should track post-listing results.
Quicklinks
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