Yudiz Solutions Limited IPO

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i. Yudiz Solutions engaged into the business of providing IT solutions and consultancy focused on providing scalable and secure solutions to shape a business idea by implementing the latest and cutting-edge technologies. They have been engaged in several projects and successfully completed them. They offer web, mobile, game and blockchain solutions for business.

ii. The company also has certificate in the area of Medical Care and Quality Management Systems (QMS) Development in the respective field. Right from ideation to execution, they have consistently delivered the competitive edge in the form of robust, fore-sighted, and qualitative solutions. With the agile, collaborative approach, they have provided tailored domain specific IT solutions that have successfully resolved different business issues. Their deep expertise in mobile app development, Blockchain, Game development, AR/VR, and web development has helped us retain numerous clients for years.

iii. The range of solutions and services include web development, wearable device / IoT development, game development and mobile application development.

iv. In Web Development we offer following services:

i. Website design & Development
ii. Website Maintenance & Support
iii. E-Commerce Web Apps and Portal Development
iv. Front End & Back End Development Services

Competitive Strengths

i. Seasoned management team with domain expertise supported by a professional workforce
ii. Integrated business model offering one-stop-shop solutions
iii. Low attrition rate

Objects of the Yudiz Solutions Limited IPO:

The objects of the issue are:- 1. To meet the expenses for Unidentified Acquisition for Company (In India or Abroad) 2. To meet the expenses for the Development of New Products and Technology 3. To meet the expenses for Networking and cabling for Company 4. To meet out the Branding & Marketing Expenses for the Company 5. To meet the Capital Expenditure Requirement of Company 6. To meet the Working Capital requirements of the Company 7. To meet out the General Corporate Purposes 8. To meet out the Issue Expenses

Yudiz Solutions Limited IPO Details:

Open Date: Aug 04 2023
Close Date: Aug 08 2023
Total Shares: 2,717,600
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Built Issue IPO
Issue Size: 44.84 Cr.
Lot Size: 800 Shares
Issue Price: ₹ 162-165 Per Equity Share
Listing At: NSE Emerge
Listing Date: Aug 17 2023

Promoters And Management:

(i) Mr. Bharat Shamjibhai Patel, aged 62 years, is Chairperson of the Company. He was appointed as Chairperson and Whole Time Director of the Company for 3 years w.e.f September 01, 2022. Mr. Bharat Shamjibhai Patel holds a formal Engineering degree in the field of Electronics and Communications from Gujarat University. He pursued research at Bhabha Atomic Research Centre, Trombay and Space Application Centre ISRO for designing Microcomputers and Integrated Circuits. Being a passionate and ambitious personality with a stout combination of more than 3 decades of technical experience and entrepreneurial aptitudes. (ii) Mr. Chirag Rajendrakumar Leuva, 37 years, is the Executive Director and Chief Executive Officer of the Company. He was appointed as Chief Executive Officer of the company w.e.f. September 01, 2022. He holds the degree of Masters of Computer Science and Applications – 2009 from Nirma University, Institute of Science and Technology. Mr. Chirag Rajendrakumar Leuva has the experience of more than 12 years in the industry. He is one of the founding members of the Yudiz Solutions Limited. He is having a leadership quality of managing more than 400 employees. (iii) Mr. Pratik Bhaskarbhai Patel, 36 years, is the Managing Director of the Company. He was appointed as Managing Director w.e.f. September 01, 2022. Mr. Pratik Bhaskarbhai Patel holds the degree of Masters of Computer Science and Applications – 2010. It was during his 2nd Year of Masters when Pratik began his entrepreneurial journey and started his own company with the name of Yudiz Solutions, which is now working as IT Solution Provider in various segments such as game development, mobile app development and Blockchain projects. He is a business leader and coordinates among the various verticals of the company and guides the company in securing growth amidst business challenges. His passion involves public speaking and creating effective business strategies. He is an ardent fan of various sports, a keen traveller and a socially inclined being. With his strong networking skills, he has helped Yudiz to reach where they currently stand and holds a key pillar for the roadmap ahead.

Financials of Yudiz Solutions Limited IPO:

P&L Statement
Particulars (in Lakhs) 2023 2022 2021
Revenue From Operations 2,731 1,876 1,283
Employees Benefit Expenses 1,675 1,276 887
Other Expenses 454 378 261
EBITDA 602 222 135
OPM 22.04% 11.83% 10.52%
Other Income 13 5 23
Depreciation 233 96 68
Finance Cost 21 14 8
PBT 361 117 82
Tax 86 43 0
PAT 275 74 82
NPM 10.02% 3.93% 6.28%
Shares 103.19 103.19 103.19
EPS 2.66 0.72 0.79

Comparison With Peers:

Name of the Companies Revenue (Cr) Profit (Cr) EPS P/E CMP MCap
Yudiz Solutions Limited 27 2.75 2.6 63.46 165 170
Dev Information Technology Limited 124 9 4.06 31.5 128 283
Nazara Technologies Limited 1091 61 7.3 98.6 720 4,764
Silver Touch Technologies Limited 166 10 7.6 51.8 394 499
Sigma Solve Ltd. 55 15 9.6 50.4 486 499
KSolves India Ltd. 77 25 20.9 49.7 1,117 1,325
*All the Data as per FY23

Recommendation on Yudiz Solutions Limited IPO:

Review and Recommendation of Yudiz Solutions Limited SME IPO by IZ team is 4/10. 1. Yudiz Solutions is an IT solutions provider to businesses' unique needs, with a focus on scalability and security. 2. They do Web Development, Mobile App Development, Game Development,  Blockchain Solutions,  and AR/VR. 3. As on 31.03.2023, the contingent liabilities is ~4 Cr. The Company has given corporate guarantee to bank for loan taken by others and balance outstanding. When the guarantee is called upon, it results in a negative impact." 4. "Approximately 6 Cr from the IPO proceeds will be allocated towards potential acquisitions, either in India or abroad. This presents a significant risk to shareholders. Should the company fail to identify a promising business opportunity, it could negatively impact its operations, leading to financial losses and a decline in wealth." 5. "Approximately 6 Cr from the IPO funds will be allocated to create a gaming platform. This marks a novel direction for the company, which previously only developed games for other businesses. As this is the new business, whether it will be successful or not we have to see. 6. The company is led by experienced executives. CEO Mr. Bharat Shamjibhai Patel, an Electronics and Communications graduate from Gujarat University, has contributed to research at notable institutions like the Bhabha Atomic Research Centre. Meanwhile, Mr. Chirag Rajendrakumar Leuva, the Executive Director and CEO since September 01, 2022, holds a Masters in Computer Science from Nirma University and has over 12 years of industry experience. 7. The revenue has grown from 12 Cr in Fy21 to 27 Cr in Fy23, showing a staggering 45% CAGR Growth. 8. The PAT has increased from 82 lakh in Fy21 to 2.75 Cr in Fy23. 9. The proposed valuation is significantly high, with an asking P/E ratio of 62x. There are more attractive companies and opportunities present in the secondary market. However, given the current robust state of the SME IPO market, there's potential for listing gains in nearly all IPOs, regardless of company details or valuation.

Lead Manager of Yudiz Solutions Limited IPO:

  1. Narnolia Financial Services Ltd

Registrar of Yudiz Solutions Limited IPO:

  1. MAS Services limted

Company Address:

Yudiz Solutions Limited 13th Floor, Bsquare 2, Iscon-Ambli Road, Ahmedabad, Gujarat- 380054, India Phone: +91 7433977526 Email: secretarial@yudiz.com Website: https://www.yudiz.com/

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