After 3 Weeks of D-Street Debut Yudiz Solutions Announces Footprint Expansion Plans

Yudiz Solutions' shares debuted on August 17 at 185 rupees per share on the NSE, representing a 12% listing premium or a gain of 20 rupees per share over the issue price. On August 10, 2023, the public offering was begun with an equity share price range of Rs 162 to Rs 165. The Yudiz Solutions IPO began accepting subscriptions on Friday, August 4, 2023, and it closed on Tuesday, August 8.

After its strong market debut, the company has announced footprint expansion plans.

"We would like to inform you that the Board of Directors of the Company at its meeting held today i.e Friday September 08, 2023, inter alia, has considered and approved, the following: 1. To open offices of the Company outside India in the areas of Gulf Co-Operation Council (GCC), Singapore and United Kingdom 2. To open offices of the Company in Tier II cities of India," Yudiz Solutions said in a stock exchange filing.

A total of 19.57 lakh shares were offered by Yudiz. In its IPO, 27.17 lakh fresh equity shares were issued, including 7.6 lakh shares for anchor investors. Between August 4 and August 8, Yudiz Solutions' initial public offering was available for subscription. The firm raised Rs 44.84 crore by selling 27,17,600 brand-new equity shares at a price between Rs 162 and Rs 165 per share. Yudiz Solutions reported revenues of Rs 27.3 crore and a net profit of Rs 2.75 crore for the fiscal year that ended in March 2023. A blockchain, artificial intelligence, and gaming-focused business solutions technology firm that offers IT solutions and consulting services, Yudiz Solutions was founded in 2012.

On Friday, the shares of Yudiz Solutions closed on the NSE at Rs 200 apiece down by 0.77% compared to the previous close of Rs 201.55.