Austere Systems Ltd IPO

About Austere Systems Ltd

Our Company was originally incorporated as `Austere Systems Private Limited' a private limited company under the Companies Act, 2013 at Pune, Maharashtra, pursuant to a certificate of incorporation dated June 12, 2015, issued by the Registrar of Companies, Maharashtra, Pune (RoC). Thereafter, name of our Company was changed from `Austere Systems Private Limited' to `Austere Systems Limited', consequent to conversion of our Company from private to public company, pursuant to a special resolution passed by the shareholders of our Company on March 18, 2024, and a fresh certificate of incorporation consequent to change of name was issued by the RoC on July 29, 2024. Our Company's Corporate Identity Number is U74900PN2015PLC155381.

The IT & BPM sector has become one of the most significant growth catalysts for the Indian economy, contributing significantly to the country's GDP and public welfare. The IT industry accounted for 7.4% of India's GDP in FY22, and it is expected to contribute 10% to India's GDP by 2025. As innovative digital applications permeate sector after sector, India is now prepared for the next phase of growth in its IT revolution. India is viewed by the rest of the world as having one of the largest Internet user bases and the cheapest Internet rates, with 76 crore citizens now having access to the Internet. The current emphasis is on the production of significant economic value and citizen empowerment, thanks to a solid foundation of digital infrastructure and enhanced digital access provided by the Digital India Programme. India is one of the countries with the quickest pace of digital adoption. This was accomplished through a mix of government action, commercial innovation and investment, and new digital applications that are already improving and permeating a variety of activities and different forms of work, thus having a positive impact on the daily lives of citizens. India's rankings improved six places to the 40th position in the 2022 edition of the Global Innovation Index (GII). India's IT industry is likely to hit the US$ 350 billion mark by 2026 and contribute 10% towards the country's gross domestic product (GDP), Info metrics Ratings said in a report. According to National Association of Software and Service Companies (NASSCOM), the Indian IT industry's revenue touched US$ 227 billion in FY22, a 15.5% YoY growth and was estimated to have touched US$ 245 billion in FY23. As per a survey by AWS (2021), India is expected to have nine times more digitally skilled workers by 2025. This indicates that a total of 3.9 billion digital skill trainings are expected by 2025. India will need 30 million digitally skilled professionals by 2026.

Founded in 2015, our company specializes in an extensive array of services, including software development, Software as a Service (SaaS), mobile application development, information technology solutions, database management, IT-enabled services, training and development, web development, web and portal operations, e-commerce platforms, ERP and MIS solutions, Data Analytics and AI Services, Process automation, Digital Transformation as well as data and document management storage. We also engage in reselling software products and providing business process outsourcing and knowledge management solutions, alongside IT consulting and advisory services. Strategically, we focus on global and Indian clients in which we serve both private and in government sector, in which we serve the largely underserved rural markets in India an area often overlooked by other IT firms. 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. Our Company is an AWS public partner to provide cloud services to our clients.

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