IPO-bound Yudiz Solutions, a blockchain, AI, and gaming-focussed enterprise technology company, has received NSE approval for an SME IPO. With the recently-approved DRHP, the company will offload a public issue consisting of a fresh 27,17,600 equity shares.
With the NSE approval, the company is set to invest about ₹8 crore to set up a gaming studio and a multi-gaming platform. The game studio will aim to produce over 40 games a year.
Use of funds
The Yudiz game studio will focus on creating games for multiple platforms. These 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.
Bharat Patel, Managing Director, said that with an aim to enable sectoral growth, the new business ventures will 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,” he added.
With an EBITDA of 21.77 per cent for FY23, and a CAGR of 42.34 per cent for the past three years, Yudiz also has a PAT of ₹2.75 crore in FY23.