Yudiz Solutions to launch Rs 44-crore public issue on August 4 | Money Contol

The company has fixed the price band issue for the issue at Rs 162 to 165.

Yudiz Solutions Ltd, a blockchain, AI and gaming-focused enterprise solutions technology company, plans to launch its initial public offering (IPO) on August 4 to raise Rs 44.84 crore.

The company plans to issue 27,17,600 fresh shares of a face value of Rs 10 each. The price band for IPO has been set at Rs 162 to Rs 165. The issue will close on August 8.

The stock will be listed on the NSE Emerge platform. The book-running lead manager to the issue is Narnolia Financial Services Limited, advisor to the issue PLS Capital, Longview Research & Advisory and the registrar to the issue is Mas Services Limited.

Out of 27,17,600 shares, 1,36,800 equity shares will be reserved for subscription by the market maker, the remaining 25,80,800 will be referred to as the ‘net issue’, the company said. The issue and net issue will constitute 26.33 percent and 25.01 percent of the post-issue paid-up equity share capital of the company.

The company is also focusing on expansion and acquisition and plans to spend Rs 12.31 crore from the IPO proceeds. The company’s Chairman and Director Bharat Patel in a recent interview to Moneycontrol had said that most of their business is international at 75-80 percent. This is why they are looking to acquire companies in markets like North America and the UK. He had said that the end-customer is not known to them but with such acquisition and expansion, they can be in touch directly with the customers, eliminating intermediaries and increasing their margins.

It is looking at companies with experience in blockchain and AI product development to further strengthen its core technological offerings. They are also looking for firms that are well-known for their work in Animation, VFX, and 3D modelling.

The company has two offices in Ahmedabad with employee strength of 400-450 and with expansion plans it expects more requirement for talent and estimates 20-30 percent increase in hiring. Patel said that they are looking at talent with all the forward-looking tech knowledge, including AI, VR (virtual reality) and Web 3.