Yudiz to soon launch IPO; eyes gaming studio to power up revenue levels, Chairman says

economictimes.indiatimes.com:

Yudiz is aiming to hit the D-Street in coming weeks and plans to ramp up offerings with the proceedings. The company is planning to spend Rs 12.31 crore to boost core offerings by looking at acquisitions across India, USA, Canada and Europe. In an exclusive interaction with ET Online’s Gourab Das, Bharat Patel, Chairman and Director at Yudiz, sheds light on India ambitions, gaming studio, acquisition plans and more.

Edited excerpt:What is the status of your IPO and isn’t now the right moment to launch the initial share sale given that the markets are red hot?Bharat Patel: We are looking at the IPO to come up during this month end or the first week of next month. That is the tentative time we have chosen, but there is no exact fixed date yet.Your IPO proceeds will go for acquisitions and to build gaming studios, according to the DRHP. But can you please elaborate what these gaming studios are going to be about and what acquisition strategy do you have?Bharat Patel: One portion from IPO proceeds will be on development of the gaming studio and the other one will be for the gaming platform, these are the two areas which we will primarily look into.

The IPO proceeds are not the only source that we are aiming to use, because we have already started work and have already spent money. The proceeds will augment that further. The gaming platforms will not only have our own games but even games which have been developed by others will be available.

As for acquisitions, it will be more to do with upgrading or complimenting our skill sets, which are not there existing with us. So, we may not outsource a type of work in future and rather acquire companies. That is the kind of acquisition that we are looking into.Will the IPO proceeds