Yudiz Solutions Receives NSE Approval for SME IPO, Expanding into Gaming and Technology Ventures
- ByStartupStory | May 26, 2023
Yudiz Solutions Ltd, a leading enterprise technology company focusing on blockchain, AI, and gaming, has obtained approval from the National Stock Exchange (NSE) for its SME Initial Public Offering (IPO). The Ahmedabad-headquartered tech service provider intends to allocate around Rs 8 crore towards the establishment of an advanced gaming studio and a multi-gaming platform. As per the company’s recently approved Draft Red Herring Prospectus (DRHP), it plans to issue 27,17,600 equity shares.
Yudiz Solutions is not only focused on creating its own games but also on developing games for other publishers and providing access to its publishing platform for external developers. With the establishment of its new gaming studio, the company aims to produce over 40 games annually, contributing to a vibrant gaming ecosystem.
“The new business ventures will drive sectoral growth, empower us to fuel innovation, expand our game portfolio, enhance the gaming experience, and cultivate gamer communities,” said Bharat Patel, Chairman and Director of Yudiz Solutions. “They will also facilitate strategic partnerships, attract top talent, and solidify our position as formidable contenders in this space.”
Yudiz Solutions achieved an impressive EBITDA margin of 21.77% in FY23. Furthermore, the company reported a noteworthy profit after tax (PAT) of Rs 2.75 crore in the fiscal year ending on March 31, 2023. Yudiz Solutions operates in diverse domains such as AI/ML, AR/VR, IoT, blockchain, mobile app development, and web development, catering to clients across North America, Europe, and Asia. Among its esteemed clientele are MPL, Zydus, RR Kabel, IRM Energy, and SportsBuzz, among others.
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