MC Exclusive: India’s first opto-semiconductor maker Polymatech may launch IPO in April

Polymatech, India’s first opto-semiconductor chips manufacturer, is eyeing an IPO debut in April this year. The issue size is expected to be about Rs 750-1,000 crore and the price band may be between Rs 680-750 per share, sources aware of the matter told Moneycontrol on the condition of anonymity. olymatech had filed draft documents with the Securities and Exchange Board of India in October 2023, to raise Rs 750 crore via an IPO. According to DRHP, the offer will be entirely a fresh issue of shares and there will be no offer-for-sale (OFS) component. The company plans to use the IPO proceeds to buy new machinery for its existing facility in Tamil Nadu.