Polymatech Electronics is preparing to file DRHP in 2026 for a ₹10,000 crore IPO at a one-year forward valuation of ₹1 lakh crore, targeting aggressive capacity expansion across India and overseas and transitioning from a semiconductor chip manufacturer to a broader electronics products company.
The company, founded in 2018 with ₹14 crore initial investment, expects FY25 revenue of ~₹2,000 crore and is simultaneously raising ~$250 million in pre-IPO funding from global investors (US, Estonia, Singapore) and domestic players, with term sheets expected to close post-14 January 2026.
Polymatech is pursuing forward integration via medical devices manufacturing (vein finder devices on proprietary near-infrared LED platform), with CDSCO registration and CE/FDA approvals in progress; management targets launching one new product every six months, with each product expected to generate at least $1 billion revenue globally starting FY27.
The company operates advanced semiconductor facilities in India, Singapore, US, Estonia, France, and Bahrain; is investing ₹1,143 crore in a Chhattisgarh GaN chip fab (25 acres SEZ + 10 acres DTA), and exploring expansion in US (Austin/Dallas under Build America, Buy America scheme) and Singapore. [user query]
