Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
IPO News

| More

Polymatech Electronics Ltd files DRHP with SEBI for IPO to raise up to Rs. 750 crore

Posted On: 2023-10-05 18:31:27 (Time Zone: IST)


Polymatech Electronics, India's first opto-semiconductor chips manufacturer (source: CARE Edge Report), 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. 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 utilise 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 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 Mr. 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. 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, sanitisation, 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.

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 Mr. Eswara Rao Nandam and Ms. Uma Nandam, current promoters, through Share Purchase Agreements executed and amended in the year 2016 and 2017, respectively.


Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Icon Facilitators Announces BSE SME IPO Approval, Targets ?22 Crore Fundraise

Crizac Limited gets Sebi Nod for Rs 1,000 cr IPO

Leading Decorative Wall Panel & Premium Laminates Brand Euro Pratik files DRHP for Rs 730 crore IPO

P S Raj Steels Receives In-Principal Approval for IPO on NSE Emerge

Jesons Industries refiles DRHP with Sebi for IPO

Standard Glass Lining Technology Limited raises Rs 123 crores from Anchor Investors

Greaves Electric Mobility Limited files DRHP for IPO

Senores Pharmaceuticals IPO subscribed 13.93 times on Day 2

Senores Pharmaceuticals IPO fully subscribed on Day 1

Speciality Fabric Manufacturer Rachit Prints files DRHP with BSE SME

Eleganz Interiors Limited files DRHP with NSE Emerge

Jungle Camps India Limited plans to raise around Rs. 30 crores from IPO

Afcons Infrastructure Ltd's IPO to open on Friday, October 25, 2024, price band set at ₹440/- to ₹463/- per Equity Share

Senores Pharmaceuticals gets Sebi nod for IPO

Telangana-based Standard Glass Lining Technology Limited gets Sebi nod for IPO

Dr. Agarwal's Health Care files DRHP for IPO

Icon Facilitators Limited files DRHP with BSE SME

Casagrand Premier Builder Limited files DRHP for Rs 1,100 crore IPO

Manba Finance Limited raises Rs. 45.25 crore from Anchor Investors

NTPC Green Energy Ltd files DRHP for IPO

Influx Healthtech Limited Files DRHP with NSE Emerge

Gala Precision Engineering IPO subscribed 201.41 times on Final Day, the most since the start of FY25

Identical Brains Studios Limited files DRHP with NSE Emerge

Gala Precision Engineering Ltd's IPO to open on Monday, September 02, 2024, price band set at ?503/- to ?529/- per Equity Share

Sanstar Limited IPO subscribed 82.98 times on Final Day

Sanstar Ltd's IPO to open on Friday, July 19, 2024, price band set at ?90/- to ?95/- per Equity Share

Three M Paper Boards Ltd's SME IPO to open on Friday, July 12, 2024

Virtual Galaxy Infotech attracts marquee investors, raises Rs 21.44 Crore ahead of IPO Launch

IT Solutions provider Orient Technologies gets Sebi nod for IPO

Accel and Flipkart-backed Zinka Logistics Solutions Limited files DRHP for IPO

Sleepwear-focused company S D Retail Limited files DRHP for SME IPO

ACME Solar Holdings Limited files DRHP for Rs 3,000 crore IPO

Nephro Care India Makes History - First SME IPO to Surpass Rs. 20,000 Crore in bids

Gala Precision Engineering gets Sebi nod for IPO

Noida-based Interarch Building Products Limited gets SEBI nod for IPO

Shivalik Engineering Industries Limited files DRHP for IPO

Niva Bupa files for Rs 3,000Cr IPO

Sagility India Limited files DRHP for IPO

Ambey Laboratories Ltd IPO to open for subscription on July 4, 2024

Nephro Care India Limited IPO opened today, Anchor Book fully subscribed

Allied Blenders & Distillers IPO subscribed 23.49 times on Final Day

Allied Blenders & Distillers IPO fully subscribed on Day 2

Allied Blenders & Distillers IPO subscribed 51% on Day 1

Stanley Lifestyles IPO subscribed 95.75 times on Final Day

Deepak Parekh-backed Nephro Care India Limited's IPO opens on Friday, June 28

Allied Blenders & Distillers Limited raises Rs. 449.1 crore from Anchor Investors

Stanley Lifestyles IPO subscribed 5.22 times on Day 2

Mason Infratech Limited IPO Opens on June 24, 2024

Stanley Lifestyles IPO fully subscribed on Day 1 led by strong retail, NII demand

Stanley Lifestyles Limited raises Rs. 161.10 crore from Anchor Investors


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020