Polymatech Electronics Files DRHP for Rs 750 Crore IPO to Boost Opto-Semiconductor Chip Production

5 Oct 2023 , 10:41 AM

Polymatech Electronics, India’s pioneering manufacturer of opto-semiconductor chips, has taken a significant step towards expansion by filing its Draft Red Herring Prospectus (DRHP) on October 4. The company intends to raise Rs 750 crore through an Initial Public Offering (IPO) consisting solely of fresh equity shares, with no offer-for-sale component. This move is poised to drive growth and further solidify Polymatech’s position in the opto-semiconductor chip industry.

Utilizing Funds for Expansion:

The primary objective behind this IPO is to secure funds for augmenting Polymatech Electronics’ existing facility located in Oragadam, Kancheepuram, Tamil Nadu. The infusion of capital will also be channeled into various general corporate purposes, enabling the company to stay at the forefront of technological innovation in this sector.

End-to-End Opto-Semiconductor Solutions:

Polymatech Electronics is distinguished by its comprehensive approach to the opto-semiconductor industry. The company is engaged in the complete life cycle of opto-semiconductor chips, encompassing design, fabrication, manufacturing, packaging, and assembly. These chips are supplied directly to a diverse clientele, including multinational corporations, some of which are Fortune 1000 companies.

State-of-the-Art Manufacturing Facilities:

At the heart of Polymatech’s operations is its state-of-the-art manufacturing facility situated in Tamil Nadu’s SIPCOT industrial park. In August 2023, the company further strengthened its infrastructure by acquiring a BTS (Built to Suit) facility in Krishnagiri, Tamil Nadu. These strategic investments underscore Polymatech’s commitment to advancing its manufacturing capabilities.

Leading the IPO Effort:

Khambhatta Securities has been appointed as the lead manager for the IPO, responsible for steering this monumental financial undertaking. Simultaneously, Link Intime India has been entrusted with the role of registrar to ensure a smooth and efficient IPO process.