India is set to welcome another listed gaming-focused company as Yudiz Solutions Ltd, a technology company specializing in blockchain, AI, and gaming enterprise solutions, is gearing up to launch its initial public offering (IPO) on August 4, 2023. With this move, Yudiz Solutions will become the second gaming company to be listed in India, following Nazara.
The company will offload a public issue consisting of a fresh 27,17,600 equity shares of the face value of Rs.10. The price band issue has been fixed at Rs 162 to 165.
The issue opens on August 4 and will close on August 8, 2023. The IPO will be listed on the NSE Emerge platform. The company will raise Rs 44.84 crore via the IPO.
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 issue and net issue will constitute 26.33 percent and 25.01 percent respectively of the post issue paid up equity share capital of the company.
In an exclusive chat with Storyboard18, Bharat Patel, chairman and director, Yudiz Solutions Talks about plans around going public.
Excerpts
What factors influenced Yudiz Solutions’ decision to pursue an IPO, and how does the company plan to utilize the funds raised from the public offering?
The factor that influenced our decision to introduce our own IPO was mainly expansion considering, we plan to increase Yudiz’s reach by establishing brick-and-mortar offices and exploring more competitive locations in other countries.
In order to create a value-based economy, we need to focus on acquiring other firms in the aligned competition and utilize skilled professionals and innovators. By acquiring firms that are experienced and have different sets of resources in a particular market, we can gain access to their expertise, resources, and customer base. This will help us to quickly expand our reach.
A percentage of the offering will be utilized in setting up our own gaming studio that aims at producing high-quality 40 games in a year and multi-gaming platform. The new gaming studio will focus on designing and developing highly interactive and quality games, using innovative technologies. The rest of the proceeds will be offloaded in acquiring both Indian and International firms. Yudiz looks to eliminate any intermediaries and as a result increase margins, leading the company to gain direct access to their customers. This will allow our clients to save their time and achieve more efficiency in business operations.
As Yudiz Solutions prepares for its IPO, how does the company intend to maintain its commitment to innovation and technological advancements in the ever-evolving IT industry?
Yudiz is always looking forward to investing in research and development, establishing a culture of innovation while partnering with other organizations. This allows us to maintain our commitment to technological advancements.
We are going to research various trendsetting technologies such as AI/ML, Web 3.0, IoT, and Metaverse and explore their benefits, applications and challenges. This will help us to improve our products, services, and provide solutions to our clients according to their prerequisites. At the end of the day, the efforts and progress we make is for the betterment of our clients and contributing to our society.
At Yudiz we motivate our employees to learn and utilize new technological advancement through a collaborative work culture. This enables them to come up with innovative ideas. Learning and growing together is a foundational quality of Yudiz that we really like to preserve and teach our employees and especially the freshers and trainees.
Lastly, partnering with organizations is one of the most efficient ways to learn about new technologies and utilize them. Yudiz has been partnering with not just other IT organizations but universities too. We believe that academics serve an important role when it comes to innovation. In fact, apart from IT-Industries, academics is another sector that can benefit our society to make progress faster.
Committing to innovation and technological advancements help us to increase productivity, get ahead of our competitors, and provide better client satisfaction.
Can you share some insights into Yudiz Solutions’ current market positioning and competitive advantage, and how the company plans to leverage these strengths during and after the IPO?
We are a rapidly growing IT company with a strong focus on innovation. We currently have two operational offices in Gujarat, but we are planning to expand our footprint both PAN India and internationally. We are confident that our unique offering of scalable IT services using innovative technologies will make us a leader in the industry. We are also excited about our upcoming IPO, which will make us the first company in the combined space of blockchain, AI, and gaming to publicly enlist. We believe that this IPO will be a major milestone for our company and will allow us to accelerate our growth and reach new markets.
With the IPO on the horizon, what specific strategies does Yudiz Solutions have in place to enhance shareholder value and ensure sustainable growth for investors in the long run?
We have strategic plans in place to make acquisitions and expand our company and we will eventually launch our own gaming studio and gaming platform.
A percentage of the offering will be utilized in setting up our own gaming studio that aims to produce 40 high-quality games in a year. The new gaming studio will focus on designing and developing highly interactive and quality games, using innovative technologies, while we will also continue making games for others.
Rest of the proceeds will be offloaded in acquiring both Indian and International firms. Yudiz wants to eliminate any intermediaries and as a result increase our margins, leading the company to gain direct access to their customers.
Considering the potential impact of the IPO on Yudiz Solutions’ corporate culture and organizational structure, how does the company plan to maintain its values and employee-centric approach while transitioning to a publicly traded entity?
Yudiz is well-known for its collaborative approach that greatly benefits us in terms of business operations and scaling for success. Our working method is more decentralized and that helps us to eliminate numerous setbacks that other companies may experience.
A workplace that is enabling, supportive, and rewarding is what we want for our employees. Listening to their input, providing them opportunities to grow, and creating an inclusive work culture benefits us on multiple levels. It increases their productivity and they give their best. We plan to keep conserving the collaborative, decentralized, and inclusive work culture that we have maintained so far.