The chip race is heating up. Watch out for this semiconductor stock in 2024
semiconductor industry has been in the limelight in recent years due to its soaring demand and the persistent global shortage of chips, making it a favoured investment sector for investors looking for high growth. Adding to this excitement, Qualcomm Inc., a global semiconductor giant, has announced plans to outsource the manufacturing of semiconductor chips in India. The company aims to capitalise on its substantial scale and the need for high chip volumes by collaborating with key industry players to introduce state-of-the-art technology in the country.
This development has piqued the interest of investors, intensifying the focus on semiconductor IPOs, as investors eagerly anticipate opportunities in this thriving industry. In alignment with this trend, an Indian opto-semiconductor manufacturer, Polymatech Electronics, has filed for an IPO and it looks to go public soon. Polymatech Electronics is an India-based semiconductor chip manufacturer.
The company designs, manufactures, and supplies opto-semiconductor chips and luminaries to a wide range of industries, including lighting, medical devices, data transmission, and specialised lighting. The company was founded in 2007 and is headquartered in Chennai, Tamil Nadu. Polymatech has a state-of-the-art manufacturing facility in Oragadam, Tamil Nadu, which has a capacity of 300 million (m) chips per annum.
Its clients include Fortune 1,000 multinational corporations. It is the first opto-semiconductor chip manufacturer in India. Opto-semiconductor chips are used in a wide range of applications, including lighting, displays, sensors, and medical devices.
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