Kancheepuram based Semiconductor Chips Manufacturing Company Polymatech Electronics files DRHP with SEBI for the proposed IPO; Key Details here

Polymatech Electronics is into Electronics Semiconductor Chips Manufacturing and is looking raise funds through Fresh Issue

Polymatech ElectronicsIPO: Fresh Issue of Equity shares aggregating up to Rs.750 crores IPO

Polymatech Electronics IPO: Polymatech Electronics Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.

Initial Public Offer comprising of a Fresh Issue of Equity Shares aggregating up to Rs 750 Cr.. Khambatta Securities have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime (India) Pvt. Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 750 Crs andby Being a Fresh Issue hence, no selling shareholders...

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Objects of the issue:
1) Purchase of new machinery towards enhancing existing facility at Oragadam, Kancheepuram, Tamil Nadu - Rs. 565.7 cr., and 2) General Corporate Purpose.

Promoters of Polymatech Electronics are Eswara Rao Nandam, Uma Nandam and Vishaal Nandam and holds 79.63% stake in the company.

About Company:
Established in 2007, Kancheepuram (Tamil Nadu) based Polymatech Electronics is Semiconductor Chips Manufacturer. Current promoters Nandam Family acquired Polymatech Electronics in 2018 from Polymatech Company Limited Japan (51%) and Polymatech (Malaysia) SDN BHD (49%).

Polymatech Electronics India’s first Opto-semiconductor Chips manufacturer is engaged into designing, fabricating, manufacturing, packaging and assembly of opto-semiconductor chips in house which are sold directly to customers as well as used in internal consumption in luminaries assembly. Company has technology partners in Great Britain, Finland, Japan and the United States of America.

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About Industry:
Opto-semiconductor are semiconductors that work by absorption and emission of light. They are based on the quantum mechanical effects of light on electronic materials. Photodiodes, light emitting diodes (LEDs), solar cells and semiconductor lasers are categorized as opto-electronics devices.

The Indian opto-semiconductor market was estimated at USD 1,515 Mn(₹ 0.11 lakh Crores) in 2018 and has grown at a CAGR of 12% to USD 2,344 Mn(₹ 0.18 Lakh Crores) in 2022. LEDs constitute 40.6% of the total opto-conductors market in India followed by image sensor opto-semiconductors. LEDs are replacing all the traditional plasma lighting as it is more efficient both in terms of life and cost. Image sensors are used in medical applications and mobile phones. The market of opto-semiconductor in India is expected to reach USD 5,351 Mn(₹ 0.44 Lakh Crores) by 2028, growing at a CAGR of 15% from 2022 to 2028.

Source: SEBI, BSE, NSE, DRHP, Polymatech Electronics, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.