Yudiz Solutions IPO To Hit D-Street On Aug 4, GMP Jumps 20% Ahead of Opening

The initial public offering (IPO) of Yudiz Solutions Ltd, a blockchain, artificial intelligence, and gaming-focused business solutions technology firm, is scheduled to begin on August 4, 2023. The company is going to offer 27,17,600 fresh equity shares with a face value of Rs. 10 in a public offering to raise Rs. 44.84 crore. The pricing range for the company's IPO has been set at Rs. 162/- to 165/-.

The issue will open on August 4 and end on August 8, 2023. Yudiz Solutions IPO is going to be listed on the NSE Emerge platform on 17th August. Narnolia Financial Services Limited is the issue's advisor, PLS Capital & Longview Research & Advisory is the issue's book-running lead manager, and Mas Services Limited is the issue's registrar.

Out of the total of 27,17,600 shares, 1,36,800 equity shares will be held back for subscription by the market maker, leaving 25,80,800 as the "net issue." The post-issue paid-up equity share capital of the firm will be made up of the issue and net issue, respectively, in amounts of 26.33% and 25.01%.

According to the company, qualified institutional buyers (QIBs) will receive 50% of the net offer, HNI/NII investors would receive 15% of the offer, and retail investors will receive the remaining 35%. A minimum investment of Rs 132,000 is required to participate in the Yudiz Solutions Initial Public Offering (IPO) considering the upper price range of Rs 165 per share at a face value of Rs 10, and bidders can only submit bids in lots of 800 shares per share. Additionally, this represents the maximum bid a retail investor may place in the IPO. HNIs and NIIs may bid for a minimum of 2 lots of 1,600 shares, or Rs 264,000, in total.

Following Nazara Technologies Ltd. as the second gaming firm in the nation, Yudiz will become the first blockchain, artificial intelligence, and gaming company to publicly list following the IPO. Clients of Yudiz include Akasa Air, MPL, Zydus, RR Kabel, IRM Energy, and SportsBuzz.

With its headquarters in Ahmedabad and Yudiz is recognised as a worldwide IT services provider in North America, Europe, and Asia, offering solutions in AI/ML, AR/VR, IoT, Blockchain, mobile app, and web development.

On August 11, 2023, the basis for allocation will be finalised, and on August 14, 2023, the procedure for refunds will begin. The stock is slated to debut on the NSE SME platform on August 17, 2023. The latest IPO GMP for Yudiz Solutions is Rs 32 as of Aug. 2, 2023, 12:30 AM. The expected listing price for the Yudiz Solutions SME IPO is Rs 197 (cap price + today's GMP), which represents a listing premium of a strong 19.39% for Yudiz Solutions Ltd above the listing price, taking into account the upper end of the band price of the IPO of Yudiz Solutions of Rs 165.00.