Yudiz Solutions Get Listed At A 12% Premium On NSE SME Platform

SUMMARY

Yudiz debuted on the market at a premium of more than 12%, with shares priced at INR 185 each, surpassing its IPO price range of INR 162-INR 165 per share

Yudiz shares rose 3.2% further during the intraday trading to touch INR 191 apiece

The startup’s public issue was subscribed 4.75X with retail investors placing bids for 58.21 Lakh shares of the 92.91 Lakh total bids received

Shares of blockchain and IT development startup Yudiz Solutions got listed at over a 12% premium at INR 185 apiece on the NSE SME platform on Thursday (August 17). The startup had set its IPO price band at INR 162 – INR 165 per share.

Subsequently, Yudiz shares surged by an additional 3.2% to INR 191. However, by 13:00 IST, the stock had retreated to INR 182.9, marginally over 1% below the listing price. The trading volume of the stock also reached 7.75 Lakh by that time.

Currently, Yudiz holds a market cap of INR 188.74 Cr.

Yudiz has become the second new-age tech startup this year to debut on the Indian stock exchange after drone startup ideaForge got listed on both NSE and BSE in July.

Similar to ideaForge’s mainboard IPO, Yudiz’s SME issues also garnered strong interest from retail investors. Its public issue was subscribed 4.75X, with retail investors bidding for 58.21 Lakh shares of the 92.91 Lakh total bids received.

Retail investors’ portion was subscribed 6.4X of the 9.08 Lakh shares on offer.

Non-institutional investors bid for 20.09 Lakh shares of Yudiz’s IPO, while qualified institutional buyers placed bids for 14.62 Lakh shares.

It’s important to note that Yudiz had a total of 19.57 Lakh shares on offer. Its IPO had a fresh issue of 27.17 Lakh equity shares, including anchor investors’ portion of 7.6 Lakh shares.

Founded in 2011, Ahmedabad-based Yudiz is an IT services and consulting firm that specialises in web and mobile app development, AR/VR, AI/ML, blockchain, and IoT. The startup was looking to raise INR 44.84 Cr via the IPO.

Amid severe stock market volatility, the number of smaller-size SME IPOs has gone up over the last two years. As per Prime Database data, Indian stock exchanges saw 125 SME issues in FY23, as against 71 in FY22 and 29 in FY21.