Blockchain firm Yudiz Solutions files draft papers for IPO with NSE Emerge

Yudiz Solutions has filed draft papers for an initial public offering (IPO) with the NSE Emerge. Yudiz is a blockchain, artificial intelligence, and game development company. This IPO will make Yudiz the first company in the blockchain space to get publicly listed.

Also, Yudiz will be the next company after Rekha Jhunjhunwala-backed Nazara Technologies to get listed in the market in the gaming space.

The IPO consists of a fresh issue of 27,17,600 equity shares.

Narnolia Financial Services is the merchant banker and also the lead manager for the IPO. Delhi-based IPO Consultants, Pro Legal Solutions, and Longview Research and Advisory Services are the advisors on the issue.

The equity shares offered in the IPO are proposed to be listed on NSE's SME Platform (NSE Emerge).

In a statement, Yudiz said that the company is raising funds for developing new products and technology, enhancement, branding, and marketing.

Moreover, the statement added that Yudiz will explore technology companies for acquisitions in India and abroad, capital expenditure, and working capital requirements.

Incorporated in 2011, Yudiz is headed by Chairman Bharat Patel, MD Pratik Patel, & CEO Chirag Leuva.

Overseen by the key promoter, Suraj Chokhani, Founder, of Ability Games, the company comprises a team of over 400 young minds and adept mentors who have catered to and delivered over 6,000 projects for several prominent clients globally.

Recently, the company collaborated with one of India's biggest telecommunication companies whereby trending technologies and innovative advancements in the gaming and advertising industry will be implemented.

Further, Yudiz has accomplished multiple collaborations by adapting and utilizing its state-of-the-art technologies.

Elementary contribution and sustainable development are their core beliefs which Yudiz follow traditionally as their crucial practice. Their abstract thinking has enabled them to synergize technologies and offer scalable solutions, hence have received recognition by several respected communities presently, it said.

Yudiz's future goals include expanding their business both in terms of infrastructure and human resources, Utilizing innovative technologies to provide solutions in trending technologies Metaverse and Web 3.0, as well as Introducing their own products making them a significant contributor to the industry at a global level.

Headquartered in Ahmedabad, Yudiz provides services all over the world. As a global IT services provider and consultant, they are recognized for cutting-edge solutions in Web and Mobile app development, AI/ML, AR/VR, IoT, as well as Blockchain.