Yudiz Solutions IPO to open on August 4; check price band, lot size & other details

The initial public offering (IPO) of Yudiz Solutions will open for subscription on Friday, August 4, 2023. The company is selling its shares in the range of Rs 162-165 apiece and the issue can be subscribed till Tuesday, August 4, 2023. It is an SME IPO, which will be listed on the emerge platform of the National Stock Exchange (NSE).

The company is looking to raise Rs 44.84 crore via its initial stake sale, which is entirely fresh equity shares of 27,17,600 equity shares with a face value of Rs 10 each. The lot size has been fixed at 800 equity shares, with each lot costing Rs 1,32,000 to the investors. Retail investors can bid for a single lot, while HNI investors need to bid for a minimum of two lots.

Incorporated in 2012, Yudiz Solutions is a blockchain, AI and gaming focused enterprise solutions technology company, which provides IT solutions and consultancy services. Yudiz Solutions Limited also provides various solutions in Mobile, Web, AR/VR, UI/UX and IoT through integrating trending technologies.

Its services include mobile app development, game development, blockchain, AR/VR, web development, website design and development, website maintenance and Support, E-commerce web apps and portal development, mobile app prototype, Android/iOS App Development, PC/mobile game development, digital marketing and more.

The IPO will make Yudiz Solutions, the first company in the combined space of blockchain, AI and gaming to publicly enlist. The Ahmedabad based company has web development clients across North America, Europe and Asia.  Akasa Air, MPL, Zydus, RR Kabel, IRM Energy, and SportsBuzz are few of the known clients.

Out of 27,17,600 shares, 1,36,800 equity shares will be reserved for subscription by the market maker, which is Kantilal Chhaganlal Securities for Yudiz Securities. The company has received 50 per cent of the net offer for the qualified institutional bidders (QIBs), while HNI investors will get 15 per cent shares and retailers will have 35 per cent of the remaining shares.

Narnolia Financial Services is the book-running lead manager to the issue, while PLS Capital and Longview Research & Advisory are advisors to the issue. Mas Services has been appointed as the registrar to the issue. The company is likely to make its debut on August 17, Thursday.

Also read: Hot stocks on August 2, 2023: IRFC, Hawkins Cookers, Reliance Power, Sula Vineyards and more

Also read: Adani Wilmar Q1 results: Adani firm may report single-digit rise in profit, says Nuvama