After 1000x subscription, check Austere Systems IPO allotment and GMP

Austere Systems' Rs 16-crore IPO, which closed on September 9, saw a massive subscription of over 1,000 times. The SME issue attracted strong demand across retail and non-institutional categories, making allotment chances slim for small investors. The allotment has been finalised on September 10, with refunds and demat credit scheduled for September 11. Shares are set to list on the BSE SME platform on September 12.

Investors who applied can check their allotment status either on the registrar’s website — KFin Technologies — or directly on the BSE platform. Here’s how.

Checking allotment on KFin Technologies (Registrar)

Visit the KFinTech IPO status page: (https://kosmic.kfintech.com/ipostatus/)

Select Austere Systems from the dropdown menu.

Enter Application number or PAN number

Your allotment status will be displayed, showing the number of shares allotted.

Checking allotment on BSE (Exchange website)

Go to the BSE IPO allotment page (https://www.bseindia.com/investors/appli_check.aspx)

Select Equity under issue type.

From the dropdown, choose Austere Systems

Enter your application number and PAN.

Click Search.

With the issue oversubscribed over 1,000 times, allotment chances are extremely limited. Investors who miss out will get refunds/unblocked funds before listing.

Austere Systems GMP

In line with the heavy subscription, Austere Systems is seeing strong GMP of 55% over the issue price. This indicates a healthy listing on September 12, but the sentiments may change on the debut day.

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Company overview

Austere Systems specializes in an extensive array of services, including software development, SaaS, mobile application development, information technology solutions, database management, IT-enabled services among others.

It also engages in reselling software products and providing business process outsourcing and knowledge management solutions, alongside IT consulting and advisory services. Strategically, the company focuses on global and Indian clients in which we serve both private and in the government sector.

"By forging collaborative partnerships with state governments and gram panchayats across various regions, we are dedicated to delivering customized IT solutions that effectively address the unique needs and challenges faced by these communities," the company said in a note.

IPO proceeds will be used for funding the working capital requirements of the company and also general corporate purposes.