MUMBAI, 5th OCTOBER, 2023 (NHM): India’s first semiconductor chips manufacturer Polymatech Electronics is planning for a stock market listing.
The company, established in 2007, on Wednesday sought capital markets regulator SEBI’s approval for the initial public offer (IPO). The equity shares are proposed to be listed on both the BSE and NSE.
Current shareholding in the company is such that Eswara Rao Nandam holds 3.3 crore equity shares of the company, making up 41.56 per cent stake. 38.07 per cent stake is held by Uma Nandam.
The average cost of acquisition of the company's equity shares by the Promoters as at the date of DRHP was Rs 0.20. The company shared that it has received ‘in-principle’ approvals from both the stock exchanges for the listing of equity shares.
The designated stock exchange will be the National Stock Exchange. Link Intime India Private Limited will serve as the Registrar to the Issue.
Polymatech Electronics’ net worth, for the financial year ending on March 31, 2023, was Rs 318 crore, up over four times from FY22. Its revenue from operations came in at Rs 649 crore and profit for the year was Rs 167 crore.
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