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Highness Microelectronics IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details
Highness Microelectronics Limited is engaged in the design, development, integration, and manufacturing of digital imaging and display solutions. The company earns revenue by supplying flat panel displays, controllers, and customized display solutions to industries like defence, healthcare, transport, and industrial automation. Its products are used in real-time monitoring systems, medical devices, and passenger information systems, where high reliability and precision are required.
Highness Microelectronics an Book Built Issue, amounting to ₹
21.67 Crore,consisting an fresh issue of
0.17 crore shares aggregating to ₹
19.84 crore and offer for sale of
0.02 crore shares aggregating to ₹
1.83 crore The subscription period for the Highness Microelectronics IPO opens on March 24, 2026, and close on March 27, 2026. The allotment is expected to be finalized on or about 30 March, 2026, Monday, and the shares will be listed on the BSE with a tentative listing date set on or about Thursday, April 02, 2026.
The Share Price Band of Highness Microelectronics IPO is set at ₹114 to ₹120 per share per equity share. The Market Capitalisation of the Highness Microelectronics at IPO price of ₹120 per equity share will be ₹61.96 Cr. The lot size of the IPO is 1,200 shares. Retail investors are required to invest a minimum of ₹
288,000, 2 lots (
2,400 shares), while the minimum investment for High-Net-Worth Individuals (HNIs) is
3 lots (
3,600 shares), amounting to ₹
432,000.
FINTELLECTUAL CORPORATE ADVISORS PRIVATE LIMITED, the book running lead manager of the Highness Microelectronics Ltd. while SKYLINE FINANCIAL SERVICES PRIVATE LIMITED is the registrar for the issue.The Market Maker of the company is Rainbow Securities Pvt.Ltd.
Highness Microelectronics Limited IPO GMP Today
The Grey Market Premium of Highness Microelectronics IPO is expected to be ₹0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.
Highness Microelectronics Limited IPO Live Subscription Status Today: Real-Time Update
The subscription period for the Highness Microelectronics IPO opens on 24 March 2026
Highness Microelectronics Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Highness Microelectronics IPO allotment date is 30 March, 2026, Monday, Highness Microelectronics IPO Allotment will be out on 30 March, 2026, Monday, and will be live on Registrar Website from the allotment date.
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Highness Microelectronics IPO from the dropdown list of IPO
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.
Objectives of Highness Microelectronics Limited IPO
Highness Microelectronics to utilise the Net Proceeds towards the following objects:
1. ₹52,675.18 Thousand is required for Funding the capital expenditure towards setting up an assembly line at factory situated at R-364, TTC Industrial Area, Rabale, Mumbai-400701
2. ₹67,090.55 Thousand is required for Funding the working capital requirement of our Company.
3. ₹18,909.45 Thousand is required for Repayment and/or pre-payment, in full or part, of borrowing availed by our Company
4. General Corporate Purposes.
Refer to Highness Microelectronics Limited RHP for more details about the Company.
Highness Microelectronics Limited Day Wise IPO GMP Trend
| GMP Date | Issue Price | Expected Listing Price | GMP | Last Updated |
|---|---|---|---|---|
| March 19, 2026 | ₹ 120 | ₹ 120 | ₹0(0.0%) | 19 March 2026; 10:42 AM |
Highness Microelectronics IPO Details
| Market Capitalization | ₹61.96 Cr |
| IPO Date | March 24, 2026 to March 27, 2026 |
| Listing Date | April 02, 2026 |
| Face Value | ₹10 Per Share |
| Price Band | ₹114 to ₹120 per share |
| Issue Price | ₹120 per share |
| Employee Discount | NA |
| Lot Size | 1200 Equity Shares |
| Total Issue Size | 18,06,000 Equity Shares (aggregating to ₹21.67 Cr) |
| Fresh Issue | 16,53,600 Equity Shares (aggregating to ₹19.84 Cr) |
| Offer for Sale | 1,52,400 Equity Shares (aggregating to ₹1.83 Cr) |
| Issue Type | Book Built Issue |
| Listing At | BSE SME |
| Share holding pre issue | 35,10,000 |
| Share holding post issue | 51,63,600 |
| Rating | Avoid |
Highness Microelectronics IPO Anchor Investors Details
| Bid Date | N/A |
| Shares Offered | N/A |
| Anchor Portion Size (In Cr.) | N/A |
| Anchor lock-in period end date for 50% shares (30 Days) | N/A |
| Anchor lock-in period end date for remaining shares (90 Days) | N/A |
Highness Microelectronics IPO Timeline (Tentative Schedule)
| IPO Open Date | Tue, Mar 24, 2026 |
| IPO Close Date | Fri, Mar 27, 2026 |
| Basis of Allotment | Mon, Mar 30, 2026 |
| Initiation of Refunds | Wed, Apr 1, 2026 |
| Credit of Shares to Demat | Wed, Apr 1, 2026 |
| Listing Date | Thu, Apr 2, 2026 |
| Cut-off time for UPI mandate confirmation | Mon, Mar 30, 2026 |
Highness Microelectronics IPO Reservation
| Investor Category | Shares Offered | Reservation % |
|---|---|---|
| QIB Portion | 857,400 | Not less than 50% of the Net Offer |
| Non-Institutional Investor Portion | 257,220 | Not more than 15% of the Net Issue |
| Retail Shares Offered | 600,180 | Not more than 35% of the Net Offer |
| Market Maker Portion | 91,200 | - |
Highness Microelectronics IPO Promoter Holding
| Share Holding Pre Issue | 99.90% |
| Share Holding Post Issue | 67.91% |
Highness Microelectronics IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹288,000 |
| Retail (Max) | 2 | 2,400 | ₹288,000 |
| S-HNI (Min) | 3 | 3,600 | ₹432,000 |
| S-HNI (Max) | 6 | 7,200 | ₹864,000 |
| B-HNI (Min) | 7 | 8,400 | ₹1,008,000 |
Highness Microelectronics IPO Subscription Status
| Investor Category | Shares Offered | Shares Bid For | No of Times Subscribed | Last Upadeted |
|---|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 857,400 | - | 0.00x | 19 March 2026; 10:48 AM |
| Non Institutional Investors(NIIS) | 348,420 | - | 0.00x | 19 March 2026; 10:49 AM |
| Retail Individual Investors (RIIs) | 600,180 | - | 0.00x | 19 March 2026; 10:49 AM |
| Total | 1,806,000 | - | 0.00x | 19 March 2026; 10:49 AM |
About Highness Microelectronics Limited
Highness Microelectronics Limited is engaged in the design, development, integration, and manufacturing of digital imaging and display solutions. The company earns revenue by supplying flat panel displays, controllers, and customized display solutions to industries like defence, healthcare, transport, and industrial automation. Its products are used in real-time monitoring systems, medical devices, and passenger information systems, where high reliability and precision are required.
The company serves clients across sectors such as Indian Railways, metro systems, defence agencies, healthcare equipment manufacturers, and industrial automation companies. It operates manufacturing and assembly facilities that focus on display integration, ruggedisation, and quality-controlled production, ensuring compliance with ISO and medical-grade standards. These facilities help in delivering customized and high-performance electronic display solutions for mission-critical applications.
The product portfolio includes TFT/LCD modules, display controllers, electroluminescent displays, touch screens, cable assemblies, and backlight systems. These products are critical components in end devices and directly impact performance, durability, and lifecycle of client systems. The company executes both off-the-shelf and project-based orders, ensuring timely delivery and customization based on client requirements, supporting long-term contracts and repeat business.
The company is focusing on expansion through value-added solutions like display enhancement and ruggedisation. It plans to grow through technology partnerships, integration capabilities, and increasing demand from digital infrastructure projects. Future capex is expected to be aligned with capacity expansion, product innovation, and integration of advanced display technologies, driven by growing demand in defence, railways, and smart infrastructure sectors.
Employee and Banker
As of Dec 31, 2025, the company had 47 full time employees. The Banker to the Company is Saraswat Co-Operative Bank Ltd.
Management and Growth Outlook
The management’s vision is to expand into high-growth segments like defence electronics, healthcare devices, and smart infrastructure systems. They are focusing on customized solutions and high-margin projects, which can improve profitability over time.
For future growth, the company plans to increase its presence in integrated display solutions and digital infrastructure projects. Funding for expansion and capex will be arranged through IPO proceeds, internal accruals, and potential debt funding, depending on project requirements.
Long-term targets include becoming a leading player in India’s display solutions segment and strengthening export opportunities through global partnerships.
Industry Overview
Highness Microelectronics operates in the electronics system design and manufacturing (ESDM) industry, particularly in the display and digital imaging segment.
- India’s electronics industry is expected to reach US$ 540 billion by 2025, growing from US$ 215 billion earlier.
- The ESDM market is projected to reach US$ 220 billion by 2025, growing at around 16.1% CAGR (2019–2025).
- India aims to achieve US$ 300 billion electronics manufacturing and US$ 120 billion exports by 2025-26.
Globally, the electronics and display industry is expanding due to digitization, automation, and smart infrastructure development. India is becoming a key player due to PLI schemes, Make in India initiative, and strong R&D capabilities.
Market leaders globally include Samsung, LG Display, BOE Technology, while in India, the sector is fragmented with multiple players in manufacturing and integration.
Overall, the industry is expected to grow at 14%–16% CAGR, supported by demand from railways, defence, healthcare, and consumer electronics sectors.
Key Risk Factors
- Regulatory Approval Risk
The company operates under multiple regulatory frameworks and requires various licenses and approvals. Any delay or failure in obtaining or renewing approvals can impact operations and increase compliance costs significantly. - Technology Obsolescence Risk
The electronics and display industry evolves rapidly. Failure to upgrade technology or adopt new innovations may result in loss of competitiveness and reduced demand for existing products. - Client Concentration Risk
Dependence on specific sectors like defence, railways, and industrial clients may expose the company to revenue volatility if demand from these sectors declines. - Execution Risk in Projects
The company handles customized and project-based solutions. Any delay in execution or failure to meet specifications may lead to penalties, loss of reputation, and reduced future orders. - Funding and Dilution Risk
Future expansion may require additional capital. Raising funds through equity or debt can dilute shareholder value or increase financial burden through interest obligations. - Compliance and Environmental Risk
Strict regulations like E-waste management and medical compliance standards increase operational complexity. Non-compliance can lead to penalties and reputational damage. - Dependence on External Data and Industry Trends
The company relies on publicly available industry data, which may not be fully accurate, affecting strategic decisions and market positioning.
Key Strengths and Opportunities
- Strong Product Portfolio
The company offers a wide range of display solutions and components, allowing it to cater to multiple industries and reduce dependency on a single segment. - Customized Solutions Capability
Ability to provide project-based and customized solutions gives a competitive edge and helps in building long-term client relationships. - Presence in High-Growth Sectors
The company operates in sectors like defence, railways, healthcare, and digital infrastructure, which are expected to grow significantly in India. - Value-Added Services (Ruggedisation)
The company enhances standard products through display enhancement and ruggedisation, increasing product lifecycle and value for clients. - Experienced Management Team
Promoters with 20+ years of industry experience provide strong leadership and strategic direction for growth and expansion. - Favourable Industry Tailwinds
Government initiatives like PLI scheme, Make in India, and Digital India are creating strong demand for domestic electronics manufacturing.
Highness Microelectronics Limited Financial Information (Restated Consolidated)
Amount in (₹ in Thousand)
| Period Ended | Dec 31, 2025 | Mar 31, 2025 | Mar 31, 2024 | Mar 31, 2023 |
|---|---|---|---|---|
| Reserve of Surplus | 65,180.23 | 31,080.05 | 40,854.05 | 16,974.43 |
| Total Assets | 24,026,843.00 | 143,054.20 | 82,038.87 | 47,827.49 |
| Total Borrowings | 81,987.21 | 49,274.93 | 13,794.91 | 13,634.92 |
| Fixed Assets | 10,626.35 | 6,665.82 | 7,768.61 | 4,042.97 |
| Cash | 9,539.25 | 1,126.15 | 2,615.42 | 380.69 |
| Cash flow from operating activities | -5,644.27 | -14,254.03 | 31,958.43 | 41,865.89 |
| Cash flows from investing activities | -11,053.97 | -18,456.53 | -28,067.11 | -36,567.05 |
| Cash flow from financing activities | 25,111.34 | 31,221.29 | -1,656.59 | -6,550.48 |
| Net Borrowing | 72,447.96 | 48,148.78 | 11,179.49 | 13,254.23 |
| Revenue | 144,115.30 | 141,738.10 | 109,933.67 | 99,072.21 |
| EBITDA | 55,482.89 | 45,187.93 | 59,657.78 | 31,296.65 |
| PAT | 34,100.18 | 25,226.00 | 23,879.62 | 4,434.85 |
| PAT Margin | 23.66% | 17.80% | 21.72% | 4.48% |
| EPS | 9.72 | 7.19 | 6.8 | 1.26 |
Note 1:- RoE, ROCE & RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 2:- Pre EPS and Post EPS calculation in KPI is based (Profit/Loss for the Year) on 31st Mar, 2025 Data, given in RHP.
Note 3:- RoNW calculation in KPI is based on 31st Mar, 2025 Data, given in RHP.
Note 4:- Price to Book Value calculation in KPI is based on Cap Price Post Issue Data, given in FINANCIAL EXPRESS.
Key Performance Indicator
| KPI | Values |
|---|---|
| EPS Pre IPO (Rs.) | 7.19 |
| EPS Post IPO (Rs.) | 4.89 |
| Adjusted 12M EPS Post IPO (Rs.) | 8.81 |
| P/E Pre IPO | 16.69 |
| P/E Post IPO | 24.56 |
| Adjusted 12M P/E Post IPO | 13.63 |
| ROE | 47.09% |
| ROCE | 42.09% |
| P/BV | 6.37 |
| Debt/Equity | 0.74 |
| RoNW | 47.09% |
| EBITDA Margin | 32.11% |
| PAT Margin | 17.80% |
Highness Microelectronics Limited IPO Peer Comparison
| Company Name | EPS | P/E (x) | ROE | ROCE | P/BV | Debt/Equity | RoNW (%) |
|---|---|---|---|---|---|---|---|
| Highness Microelectronics | 4.89 | 24.56 | 47.09% | 42.09% | 6.37 | 0.74 | 47.09% |
| There are no listed peers which are in the same line of business as per RHP. | - | - | - | - | - | - | - |
Highness Microelectronics Limited Contact Details
Highness Microelectronics Limited
Phone: 022-28507123, +91 84540 40540
Email: cs@highnessmicro.com
Website: http://www.highnessmicro.com/
Highness Microelectronics IPO Registrar and Lead Manager(s)
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
Phone: 011-40450193-197
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/
- FINTELLECTUAL CORPORATE ADVISORS PRIVATE LIMITED
Phone: +91-120-4266080
Email: ipo@fintellectualadvisors.com
Website: http://www.fintellectualadvisors.com/
Highness Microelectronics IPO Review
Highness Microelectronics Limited is engaged in the design, development, integration, and manufacturing of digital imaging and display solutions. The company earns revenue by supplying flat panel displays, controllers, and customized display solutions to industries like defence, healthcare, transport, and industrial automation. Its products are used in real-time monitoring systems, medical devices, and passenger information systems, where high reliability and precision are required.
The Company is led by Promoter, MR. GAURAV MANJUL KEJRIWAL, MR. MANJUL KUMAR KEJRIWAL AND MRS. SHRUTI GAURAV KEJRIWAL
The Revenues frorom operations for the Period ended on Dec 31 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 144,115.30 Thousand, ₹ 141,738.10 Thousand, ₹ 109,933.67 Thousand, and ₹ 99,072.21 Thousand, The EBITDA for the Period ended on Dec 31 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 55,482.89 Thousand, ₹ 45,187.93 Thousand, ₹ 59,657.78 Thousand, and ₹ 31,296.65 Thousand, The Profit after Tax for the Period ended on Dec 31 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹ 34,100.18 Thousand, ₹ 25,226.00 Thousand, ₹ 23,879.62 Thousand, and ₹ 4,434.85Thousand, respectively. This indicates a steady growth in financial performance.
The Company Key Performance Indicates the pre-issue EPS of ₹ 7.19 and post-issue EPS of ₹ 4.89 for FY25. The pre-issue P/E ratio is 16.69x,while the post-issue P/E ratio is 24.56x against the Industry P/E ratio is NAx The company's ROE for FY25 is 47.09% and RoNW is 47.09% The Annualised EPS is ₹ 8.81x and P/E is ₹ 13.63x , These metrics suggest that the IPO is Fully priced.
The Grey Market Premium (GMP) of Highness Microelectronics showing listing gains of 0%.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the Highness Microelectronics Limited. IPO for Listing gain or Long Term Purposes.
Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. We also use Artificial Intelligence (AI) tools to enhance the efficiency and quality of our research services, including data retrieval, analysis, and report summarization. 1.“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.” 2. “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.” 3. To read the Disclaimers, Disclosures, Investor Charter, Investor Complaints please visit Legal our website abhayvarn.com
About the Author
CA Abhay Kumar (Also known as CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.
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