Highness Microelectronics IPO
smelistedAbout the company
Incorporated in 2007, Highness Microelectronics makes digital display and imaging solutions. The company designs and builds things such as display panels, controllers, touch screens, cables and lighting systems. It has two types of products: standard product lines that are available to all customers and custom-made products developed for specific industries or projects. The company has four main market segments: Industrial automation, medical & healthcare, railways and defence & aerospace. Historically, Highness Microelectronics made most of its revenue in India, with domestic sales accounting for approximately 99% of its total sales in FY23 and FY24. However, the company has begun to export its products and has increased exports to approximately 48% of its sales in H1FY26. In FY25, Karnataka (30% of total revenues) and Maharashtra (25% of total revenues) contributed substantial to the revenue. In terms of business mix, there has been a major shift. Defence & aerospace has become the largest segment, contributing 45% of revenue in H1FY26, compared to almost negligible levels of 0.5% in FY23. Railways (~29%) and Medical & Healthcare (~22%) are the other key contributors. On the other hand, Industrial Automation, which was earlier the biggest segment ~49% in FY25, has dropped sharply to around 5% in H1FY26. As of December 2025, the company had 20 orders in hand, with total order value of ₹10.05 crore. Some key orders include: A metro train project for DMRC involving display systems worth ~₹5.3 crore, a display and cable order worth ~₹2.7 crore, and a rugged backlight unit order worth ~₹1.3 crore. Most of these orders are scheduled for delivery starting from February to March 2026.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 27 Mar | ₹30 | ₹150 | 0 |
| 26 Mar | ₹30 | ₹150 | +1 |
| 25 Mar | ₹29 | ₹149 | -1 |
| 24 Mar | ₹30 | ₹150 | +10 |
| 23 Mar | ₹20 | ₹140 | +7 |
| 22 Mar | ₹13 | ₹133 | 0 |
| 21 Mar | ₹13 | ₹133 | +6 |
| 20 Mar | ₹7 | ₹127 | 0 |
Strengths
- Operates in the semiconductor and electronics components segment with growing demand
- Focus on microelectronics and advanced electronic solutions
- Increasing demand driven by electronics, automotive, and industrial applications
- Potential to benefit from government push for domestic semiconductor manufacturing
- Scalable business model with opportunities for expansion
- Experienced management team with technical expertise
- Opportunities from import substitution and local manufacturing initiatives
Risks
- Highly capital-intensive industry requiring continuous investment
- Rapid technological changes requiring constant innovation
- Dependence on imported raw materials and components
- Exposure to global semiconductor supply chain disruptions
- Intense competition from established global semiconductor companies
- Long gestation period for returns on investments
- Regulatory and policy risks related to semiconductor industry
Financial performance (₹ Cr)
IPO Roadmap / Timeline
IPO Opens
Completed24 Mar 2026Bidding starts for all investor categories
IPO Closes
Completed27 Mar 2026Last day to place your bid
Basis of Allotment
Completed30 Mar 2026Share allotment finalised
Refund Initiation
Completed01 Apr 2026Refunds credited for non-allottees
Credit to Demat
Completed01 Apr 2026Allotted shares credited to demat account
Listing on Exchange
Completed02 Apr 2026Shares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 1200 | ₹144,000 | 1 | ₹144,000 | 1 lot only |
| HNI | 2 | 2400 | ₹288,000 | 2 | ₹288,000 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 940,171 | 11 | 0 | 0.00x | 100% |
| NII | 15% | 282,051 | 3.3 | 0 | 0.00x | 100% |
| Retail | 35% | 658,120 | 7.7 | 0 | 0.00x | 100% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).
