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Polymatech, India’s premier opto-semiconductor manufacturer, is reportedly preparing for an Initial Public Offering (IPO) debut in April1. This move marks a significant milestone in India’s semiconductor industry, positioning Polymatech as a trailblazer in the sector.
About Polymatech
Polymatech Electronics Ltd., a home-grown semiconductor chip maker, has been a pioneer in the production of opto-semiconductor chips since its inception in 20192. Utilizing advanced European and Japanese technologies, the company has consistently produced high-quality chips that meet global standards2.
IPO Details
Polymatech filed draft documents with the Securities and Exchange Board of India (SEBI) in October 202312. The company aims to raise Rs 750 crore through the IPO12. The issue size is expected to be about Rs 750-1,000 crore, and the price band may be between Rs 680-750 per share1. Notably, the offer will be entirely a fresh issue of shares, and there will be no offer-for-sale (OFS) component12.
Use of IPO Proceeds
The company plans to use Rs 565.73 crore of the IPO proceeds to buy new machinery for its existing facility in Tamil Nadu2. This investment will enhance the company’s production capabilities and contribute to its growth strategy2.
Future Prospects
Polymatech’s IPO launch comes at a time when the global demand for semiconductors is on the rise. With its state-of-the-art manufacturing facilities and commitment to quality, Polymatech is well-positioned to capitalize on this trend. The company’s IPO is a significant step forward in its growth journey and a testament to the potential of India’s semiconductor industry.
In conclusion, the upcoming IPO of Polymatech, India’s first opto-semiconductor maker, is a noteworthy event in the country’s tech industry. It not only underscores the company’s growth trajectory but also highlights the burgeoning potential of India’s semiconductor sector.
