CricTracker’s technology partner Yudiz Solutions creates history; achieves maximum number of anchors subscription for an SME IPO

Yudiz Solutions Ltd., a gaming and web app development company, recently opened its SME Initial Public Offer (IPO) to public on Friday, August 4. Subsequently, the company garnered an excellent response, as the offer got fully subscribed on the Day 2 itself. Additionally, one thing that stands out in this IPO is that it received a massive, record-breaking maximum number of applications from anchor investors.

Speaking of company’s IPO details, it opened for public application on Friday, August 4 with a price band ranging between INR 162 and 165. The minimum lot size per application is set to 800 units, while the face value per equity unit is INR 10. The IPO will close on Tuesday, August 8. Industry veteran Narnolia is the Lead Manager to the issue. The stock of the company will be listed on National Stock Exchange’s (NSE) SME platform “Emerge”.

Meanwhile, as on Monday, anchor investors’ positive take on the IPO looks like a sign of good things to come for the organization. Prominent anchor investors like NAV Capital VCC, Chhattisgarh Investments Ltd., to name just a few, have shown their faith to invest an aggregate of whopping INR 12.54 crores during the issue (figures as of Monday, August 7; 11 AM IST).

Company history and details

Notably, Yudiz and CricTracker’s association dates long back. The entire website and mobile application of the company is developed and maintained by the Ahmedabad-based studio. User feedback on both the app and website has been highly satisfying, and Yudiz has promised to add more features in the coming times using its cutting-edge development tech.

Apart from web and app development, the company has a dynamic service offering. It deals in Artificial Intelligence (AI) and Machine Learning (ML) based products in addition to Designing Services to its clients. The company also focuses in game development based on Blockchain technology for Android, iOS as well as wearable devices.

It is worth mentioning that as per Internet and Mobile Association of India (IAMAI) and Redseer, the online gaming industry is expected to reach a market capitalization of a whopping $3.9 billion. The gaming vertical of the company will definitely reap the benefits out of the potential that this booming industry possesses.

Chief Executive Officer & Director Mr. Chirag Leuva, Chairman & Director Mr. Bharat Patel, Managing Director Mr. Pratik Patel, and Director Mr. Suraj Chokhani are the forming part of company’s able leadership team.

With the clarity in vision and mission, and a customer-oriented approach, the company headquartered in Ahmedabad has made a name for itself and has onboarded some global corporations as its clients. The most salient names in its clients’ list includes Late Rakesh Jhunjhunwala’s Akasa Air, Pharma giant Zydus, Electrical components' enterprise RR Kabel, star cricketer Virat Kohli-backed fantasy gaming app MPL.

With two days (August 7 and 8) still remaining in issue closure, it is highly likely that the company will get oversubscribed. The sky, thus, certainly looks clear for the company to deliver the goods to those who are allotted on the day of its listing.