HomeBusinessPolymatech Electronics Limited Files DRHP With SEBI For Rs 750 Crore IPO

Polymatech Electronics Limited Files DRHP With SEBI For Rs 750 Crore IPO



Polymatech Electronics, an India-based opto-semiconductor chips manufacturer, today announced the filing of its Draft Red Herring Prospectus (DRHP) with SEBI.

The company’s offering comprises a fresh issue of equity shares (face value Rs 10 each), aggregating to an issue size of up to Rs 750 crore, through book building route. There will be no Offer for Sale component.

- Advertisement -

The company has appointed Khambatta Securities Limited as Book Running Lead Manager to the Issue and Link Intime India Private Limited as the Registrar to the Issue.

The company will utilize its net proceeds from the issue to purchase new machinery to enhance its existing facility at Oragadam, Kancheepuram, Tamil Nadu. The equity shares of the company are proposed to be listed on the NSE and BSE.

Headquartered in Chennai, Polymatech commenced its journey of designing and producing opto-semiconductor chips in 2019, using the latest European and Japanese technologies.

The company is led by Eswara Rao Nandam, Managing Director and an alum of BITS Pilani, with more than three decades of experience in the manufacturing and assembling sectors in electronic components, automobile components, personal electronics, and robotics. He is also a Life Member of India Institute of Plant Engineers.

- Advertisement -

The company produces opto-semiconductor chips and luminaries, offering solutions for diverse industries inLarge-area lighting at commercial places and has developed & completed the trials of products for Medical applications, data transmission, Specialized lighting for photosynthesis, aqua lighting, and sanitization, among others.

The company designs, develops, tests, and manufactures its Opto-semiconductor chips in-house at its state-of-the-art facility located at Oragadam, Kancheepuram, Tamil Nadu. The company has also purchased a facility in Krishnagiri, Tamil Nadu, for setting up its second plant.

- Advertisement -

According to an industry report published by CARE Advisory Research and Training Limited (CARE Edge), the global opto-semiconductor market was estimated at USD 37,088 Mn (₹ 2.73 lakh crore) in 2018 and has grown at a CAGR of 4% to USD 43,780 Mn (₹ 3.32 lakh crore) in 2022.

The global opto-semiconductor industry is expected to reach USD 59,224 Mn (₹ 4.87 lakh crore) by 2028, growing at a CAGR of 5.4% from 2022 to 2028. The growth is expected to be driven by downstream industries like the automotive sector and lighting in community areas and households.

Polymatech Electronics Limited was formed in the year 2007 as a foreign company, owned and promoted by foreign shareholders. Later the company was acquired by Eswara Rao Nandam and Uma Nandam, current promoters, through Share Purchase Agreements executed and amended in the years 2016 and 2017, respectively.


Get quick snaps of everyday happening, directly in your inbox.

We don’t spam! Read our privacy policy for more info.

- Advertisement -
Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.

More Latest Stories


Related Stories