Yudiz Solutions Ltd, an enterprise technology company focusing on blockchain, AI, and gaming, has received NSE approval for an SME IPO as it prepares to go public. With this approval, the company plans to invest approximately 80 Million INR to establish a gaming studio and a multi-gaming platform, with the aim of producing over 40 games per year.
Yudiz Solutions, known for its app development, will become the first publicly listed game developers with their own publishing platform.
IPO Bound Yudiz Solutions gets DRHP nod, set to invest approx. 80 Million INR to launch a world-class gaming studio and multi-gaming platform
The newly established Yudiz game studio will prioritize the creation of high-quality games for various platforms, leveraging the company’s cutting-edge technology solutions and in-house expertise. They will also develop games for other publishers and provide an opportunity for other developers to publish their games on their platforms. Yudiz will be the only gaming company involved in the development and publishing of both its own games and those of others.
Bharat Patel, Chairman & Director, stated, “These new business ventures will drive sectoral growth, provide resources for innovation, expand our game portfolio, enhance the gaming experience, and foster gamer communities. It will also enable us to form strategic partnerships, attract top talent, and solidify our position as strong contenders in the industry.”
With an EBITDA of 21.77% for FY 22-23 and a CAGR of 42.34% over the past three years, Yudiz has also achieved a PAT of INR 2.75 CR in FY 22-23. The recently approved DRHP will enable the company to offer a public issue consisting of a fresh 27,17,600 equity shares.
Headquartered in Ahmedabad, Yudiz Solutions is a global IT services provider offering solutions in AI/ML, AR/VR, IoT, Blockchain, mobile app development, and web development across North America, Europe, and Asia. The company aims to disrupt the market with its innovative solutions and products, boasting clients such as MPL, Zydus, RR Kabel, IRM Energy, and SportsBuzz.