Polymatech Electronics, a Chennai-based semiconductor chip producer, is preparing to launch an initial public offering (IPO) with the aim of raising ₹750 crore ($10 million) through fresh equity shares. The move comes as part of the company's strategy to tap into the growing global opto-semiconductor market, which is projected to reach $59,224 million by 2028 according to CARE Advisory Research.
The funds raised from the IPO, managed by Khambatta Securities Ltd and registered by Link Intime India, will be used for facility upgrades in Tamil Nadu. Specifically, the company plans to upgrade its existing Oragadam facility and establish a new plant in Krishnagiri.
Founded by foreign investors and employing European and Japanese technologies, Polymatech has been producing opto-semiconductor chips since 2019. These chips are used across a range of industries including medical applications, data transmission, and commercial lighting solutions. The company also specializes in large-area lighting solutions and in-house manufacturing of opto-semiconductor chips.
Following the IPO, Polymatech Electronics intends to list on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
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