Companies operating in the blockchain space are also eyeing a listing on Indian bourses. If everything goes according to the plan, Yudiz Solutions Ltd, a blockchain, AI, and gaming-focused enterprise tech company, will become the first company to get publicly listed in the blockchain space.
In March this year, Yudiz Solutions filed draft papers for an initial public offering (IPO) with the NSE Emerge.
Meanwhile, Yudiz will be the next company after Rekha Jhunjhunwala's Nazara Technologies to get listed in the market in the gaming sector. The IPO comprises a fresh issue of 27,17,600 equity shares.
According to Moneycontrol, the IPO-bound Yudiz Solutions Ltd has received the nod from the National Stock Exchange (NSE) for a small and medium enterprises (SME) IPO (initial public offer).
With this approval, the company is expected to invest approximately Rs 80 million to put in place a gaming studio and a multi-gaming platform. The game studio will intend to produce over 40 games in a year.
Incorporated in 2011, by Bharat Patel, Pratik Patel, and Chirag Leuva, the company is overseen by the key promoter, Suraj Chokhani. The company has developed games including Little Singham Cricket, and Ballz, among others.
Yudiz posted a profit after tax (PAT) of Rs 2.75 crore in FY 22-23.
The company received about 40% of its reported revenues of Rs. 18.76 crore (March 2022) from gaming which also involves other technical tools such as AI, Blockchain, and virtual reality among others.
“We believe that the Indian gaming market will grow from $3 billion to $5 billion by 2025. And we expect to increase the share of games in our total revenues to 60 per cent,” said Bharat Patel, Chairman.
According to the company, by 2030, the annual spending on gamification worldwide is estimated to reach $76 billion. According to a gamification marketing company, global spending on gamification is expected to increase by a CAGR of 27% during the 2020-25 period to reach $31 billion.
India’s gaming market size is predicted to reach $8.6 billion by FY27.