Yudiz Solutions, a blockchain and gaming company has received an NSE approval for an SME IPO. With this approval, the IPO-bound company is set to invest Rs 8 crores to set up a gaming studio and a multi-gaming platform.

Share Market Live

NSE

The game studio will aim to produce over 40 games in a year, a statement said. The firm added that it will now be the first game developers to be publicly listed and have its own publishing platform.

The new 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, the company stated. Yudiz gaming studio will also develop games for other publishers and will also allow other developers to publish games on their new publishing platform.

Also read: Wipro Chairman Rishad Premji takes 50 percent compensation cut

"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,” said Bharat Patel, Chairman and Director, Yudiz Solutions.

With an EBITDA of 21.77 percent for FY22-23, and a CAGR of 42.34 percent for the past three years, Yudiz said it also has a PAT of Rs 2.75 crore in FY22-23. With the recently approved DRHP the company will offload a public issue consisting of a fresh 27,17,600 equity shares.

The company is delivering scalable, cost-effective solutions through state-of-the-art technology in sectors such as healthcare, edtech, fintech, human resources, social networks, F&B, supply chain space and the entertainment sector including OTT, and gaming related platforms.

Also read: Pepperfry's Ambareesh Murty says demand from tier 2 cities continues to surge