IPO-bound Yudiz Solutions – a blockchain, AI, and gaming focussed enterprise technology company – has received an NSE approval for an SME (Small and Medium Enterprise) IPO. With this approval, the company is set to invest approximately 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.
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 new Yudiz game studio will focus on creating high-quality games for multiple platforms. These games will leverage Yudiz’s cutting-edge technology solutions and in-house expertise to design and develop the games. They will develop games for other publishers as well, and will allow other developers to publish games on their new publishing platform. This will be the only gaming company to develop and publish their own and others’ games as well.
Yudiz Solutions chairman and director Bharat Patel said, “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 per cent for FY 22-23 and a CAGR of 42.34 per cent 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.