BUSINESS

Yudiz Solutions Is Concentrating On Adding A Subsidiary By Purchasing A 51% Share

This week, attention will likely be focused on Yudiz Solutions, a small-cap IT business with a market valuation of Rs 140 crore. The company recently formed a subsidiary by purchasing 51% ownership, or 5100 shares, at a price of Rs 10.

“We would like to notify you in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, that the Board of Directors of the Company, among other things, considered and approved the following at their meeting held on Friday, March 1, 2024:

1. Subsidiary incorporation through strategic investment in “Insightly Dataworks Private Limited,” “Data Works Private Limited,” or any other name that the Registrar of Companies may approve (“the Investee Company”) through the purchase and/or subscription of membership interest, which is equal to at least 51% of the Investee Company.

2. Yudiz Solutions said in a stock market filing on Friday that M/s. Parth P Shah & Associates has been appointed as the financial year 2023–24 secretarial auditor.

The proposed business, which is a linked party of Yudiz Solutions Limited, will become a subsidiary of that firm. Through the network and current operations of Insightly Dataworks Private Limited, or “Data Works Private Limited,” the purchase seeks to enhance, leverage, and gain market access.

As to Yudiz Solutions, the suggested enterprise will be established in India with the aim of conducting digital media marketing, advertising, and publicity agents, among other activities. The stock exchange would be notified of the company’s formation date.

Yudiz Solutions Limited was founded in 2012 and focuses on providing consulting services and IT solutions. The stock ended the day on the NSE at Rs 135.85 a share.

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