Polymatech to spend $200-300 million in acquisitions in FY25 IPO process to restart in FY26

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Subscribe to enjoy similar stories. Semiconductor chip manufacturer Polymatech Electronics will spend close to $300 million in closing two acquisitions within the next few months in the US and France as it expands its presence globally. Polymatech Electronics founder Eswara Rao Nandam told Mint that the acquisitions will be funded through a mix of internal accruals and external investments from potential equity investors.

“We will be expanding our US semiconductor fabrication facility planned for next year and there will be an acquisition in Grenoble, France, which will get crystallised within the next three to four weeks. For both these facilities, about $200-300 million will be needed," he said. In August, Polymatech's wholly-owned subsidiary, Artificial Electronics Intelligent Materials Pte Ltd in Singapore acquired California-based Nisene Technology Group which is one of the oldest makers of integrated circuits built on silicon and silicon carbide wafer.

Polymatech currently makes sapphire-based semiconductors. Nandam elaborated that equity investment is expected to come into Nisene for expanding this facility which will make silicon carbide and sapphire wafers, high-performance Central Processing Units (CPUs), and Graphics Processing Unit (GPUs) for computers and mobiles. “We’ve been approached by some US funds for investment into Nisene and the minimum ticket size will be about $50-100 million," Nandam added.

The company is looking at technology acquisitions in the UK. The acquisitions will enable multi-wafer technology abilities with the company giving it an edge over global competitors. Making different kinds of opto-semiconductor chips, also called photonics, on wafers ranging from silicon, silicon carbide and