IPO-bound Yudiz Solutions Ltd, a blockchain, AI, and gaming focussed enterprise technology company has received an NSE approval for an SME IPO. With this approval, the company is set to invest approx Rs 8 crore to set up a gaming studio and a multi-gaming platform. The game studio will aim to produce over 40 games in a year.
Yudiz Solutions, which is already known to develop apps, will now be the first game developer to be publicly listed and have its own publishing platform.
The company stated that the new Yudiz game studio will focus on creating high-quality games for multiple platforms. The games will leverage Yudiz’s technology solutions and in-house expertise to design and develop the games. They will also develop games for other publishers and will also allow other developers to publish games on their new publishing platform. This will be the only gaming company to develop and publish its own and others’ games as well.
Bharat Patel, Chairman & Director, says “The new business ventures will enable sectoral growth, provide us with the necessary resources to drive innovation, expand our game portfolio, elevate the gaming experience and develop gamer communities. It will also enable us to forge strategic partnerships, attract top talent, and cement our position as strong contenders in the space”
With an EBITDA of 21.77% for FY 22-23, and a CAGR of 42.34% for the past three years, Yudiz also has a PAT of Rs 2.75 crore in FY 22-23. With the recently approved DRHP the company will offload a public issue consisting of a fresh 27,17,600 equity shares.
Yudiz Solutions is headquartered in Ahmedabad and provides solutions in AI/ML, AR/VR, IoT, as well as blockchain, mobile app and web development across North America, Europe and Asia region. MPL, Zydus, RR Kabel, IRM Energy, SportsBuzz are some of its clients.