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25 May 2023

IPO bound gaming and blockchain company Yudiz Solutions gets NSE approval | Money Contol

The company has developed games including Little Singham Cricket, Ballz, among others. Representative image

IPO bound Yudiz Solutions Ltd, a blockchain, AI, and gaming-focused enterprise technology company, has received approval from the National Stock Exchange (NSE) for a small and medium enterprises (SME) IPO (initial public offer).

With this approval, the company is set to invest around Rs 80 million to set up a gaming studio and a multi-gaming platform. The game studio will aim to produce over 40 games in a year.

A first

Yudiz Solutions, known to develop apps, will now be the first game developers to be publicly listed and have its own publishing platform.

The new Yudiz game studio will focus on creating high-quality games for multiple platforms. The company has developed games including Phonics Museum, BFK Warzone, among others.

It will also look at developing games for other publishers and will allow other developers to publish games on their new publishing platform.

“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,” company’s Chairman and Director, Bharat Patel said.

Yudiz registered a profit after tax (PAT) of Rs 2.75 crore in FY 22-23. With the recently approved DRHP (draft red herring prospectus), the company will offload a public issue consisting of a fresh 27,17,600 equity shares.

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