Game development firm Yudiz Solutions files draft papers for IPO
The public issue consists of a fresh issue of 27,17,600 equity shares. Yudiz hopes to use the funds for developing new products and technology, branding and marketing.
, an AI, blockchain and game development company, has filed draft papers for an initial public offering (IPO) with NSE Emerge, the National Stock Exchange's platform for SMEs.
The public issue consists of a fresh issue of 27,17,600 equity shares.
Yudiz will be the first company in the blockchain, artificial intelligence and game development space to be publicly enlisted in this market, said the company in a statement. It will also be the next company after Nazara Technologies Ltd in the gaming space to go public.
Ahmedabad-based Yudiz hopes to use the funds for developing new products and technology, enhancement, branding and marketing.
Narnolia Financial Services Limited is the merchant banker for the IPO and also the lead manager to the issue. Delhi-based IPO Consultants, Pro Legal Solutions and Longview Research and Advisory Services are the advisors to the issue, the company stated.
Incorporated in 2011, Yudiz is headed by Chairman Bharat Patel, MD Pratik Patel, and CEO Chirag Leuva. It is overseen by key promoter Suraj Chokhani, Founder of Ability Games.
The company comprises a team of over 400 people. It has catered to and delivered over 6,000 projects for several prominent clients globally, the company said in the statement.
Earlier in 2019, Kolkata-based Ability Games had acquired an undisclosed stake in Yudiz Solutions. Ability Games is the owner of gaming sites such as 11wickets.com and Pokerlion.com and sports portal Sports.info.
Edited by Akanksha Sarma
