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Highness Microelectronics IPO day 1: The initial public offering (IPO) of digital-imaging solutions provider Highness Microelectronics opened for subscription on Tuesday, March 24. The SME IPO is a combination of a fresh issue of 16,53,600 shares and an offer for sale (OFS) of 1,52,400 shares.

The SME IPO is witnessing decent buying interest even as grey market sources indicate the stock may list at a premium on the BSE SME platform.

Meanwhile, the company raised ₹6,13,44,000 from anchor investors ahead of the IPO, issuing 5,11,200 shares at a price of ₹120 per share.

According to grey market sources, the GMP (grey market premium) of Highness Microelectronics shares was ₹20 on Tuesday morning. This indicates the stock could list at a premium of about 17% over its issue price.

By 12:01 pm on Tuesday, the issue had seen an overall subscription of nearly 0.35 times, with the retail portion booked 0.47 times, and the segment reserved for NIIs subscribed to 0.49 times. QIB's portion was yet to see any subscription till that time.

1. Highness Microelectronics IPO objects: According to the RHP, the company will use the net proceeds from the issue to set up an assembly line at a factory situated at Rabale, Mumbai.

Some part of the net proceeds will be used for loan payments, to meet working capital requirements, and for general corporate purposes.

2. Highness Microelectronics IPO date: The SME IPO opened for subscription on Tuesday, March 24 and will conclude on Friday, March 27.

3. Highness Microelectronics IPO price: The price band of the public issue has been fixed at ₹114 to ₹120 per equity share.

4. Highness Microelectronics IPO size: The SME IPO is a fresh issue of 16,53,600 shares and an OFS of 1,52,400 shares. From the fresh issue of shares, the company intends to raise ₹19.84 crore.

5. Highness Microelectronics IPO lot size: Retail investors can bid for a minimum and maximum of 2,400 shares.

6. Highness Microelectronics IPO reservation: QIBs have been offered 8,53,200 shares (47.24% of the issue), including the anchor investor portion of 5,11,200 shares. Retail investors have been offered 6,02,400 shares, or 33.36% of the net issue. The company has reserved 2,59,200 (14.235% of the net issue) for NIIs.

7. Highness Microelectronics IPO allotment date: The company is expected to finalise the share allotment on Monday, March 30. Successful bidders can expect shares of the company in their demat accounts on the next business day, on Wednesday, April 1, and bidders who fail to get the allocation may get a refund on the same day.

8. Highness Microelectronics IPO book-running lead manager and registrar: According to the issue's Red Herring Prospectus (RHP), Fintellectual Corporate Advisors is the book-running lead manager, and Skyline Financial Services is the registrar of the Highness Microelectronics IPO.

9. Highness Microelectronics IPO listing: As per SEBI's T+3 rule of IPO listing, the IPO is proposed for listing on the BSE SME on Thursday, April 2.

10. Highness Microelectronics business overview: Highness Microelectronics is engaged in the design, development, integration, assembly and manufacture of digital-imaging solutions. As per the RHP, the company operates in two main categories- off-the-shelf products and market-specific solutions/projects.

The company earned a profit of ₹0.44 crore in FY23, ₹2.39 crore in FY24, and ₹2.52 crore in FY25. For nine months in FY26, the company's profit stood at ₹3.41 crore.

Revenue from operations in FY23 was ₹9.67 crore, which rose to ₹10.70 crore in FY24 and ₹14.1 crore in FY25. For nine months in FY26, the company's revenue was ₹14.1 crore.

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stories by Nishant Kumar

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.Nishant is a market reporter at Mint, where he holds the official designation of Principal Correspondent – Markets. He has been closely tracking the Indian stock market as well as major global stock markets along with the broader macroeconomic trends for a decade.

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