Akash Jha
Yudiz Solutions, a provider of IT solutions and advisory services, had a successful debut on August 17 despite the sluggish equity market.
Up 10% from its issue price of Rs 165, but down from its opening price, the stock finished at Rs 181.40 on the NSE SME.
The stock price began trading at Rs 185 and peaked at Rs 191 before closing the day at Rs 181.
On the first day of trading, 9.02 lakh shares were exchanged.
By issuing 27.17 million new shares of stock to the public, the digital transformation and technology services firm raised Rs 44.84 crore, or about $44.84 million. The offer price ranged from Rs 162 to Rs 165 per share, and the offering was book-built.
This was an altogether new initiative on the part of the firm. Issue proceeds (after deducting IPO costs) will be used to fund the purchase and development of innovative products and technologies.
Networking and cabling, as well as branding and marketing, will be funded with these resources. The capital expenditure and working capital needs will also be met using the proceeds from the new issue.
Ability Games’ subsidiary, Yudiz Solutions, specialises in providing web, mobile, game, and blockchain solutions. Ability Games’ primary business is online fantasy gaming and unique gaming products.
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