Updated on 02.04.2026|11:50 AM
Highness Microelectronics Limited is set to launch its Initial Public Offering (IPO). It is an ISO 9001:2015 and ISO 13485:2016 certified company that designs, develops, and manufactures digital-imaging solutions.
The public issue will open for subscription on Tuesday, March 24, 2026, and close on Friday, March 27, 2026. The company intends to raise approximately ₹21.67 Crores at the upper price band through a mix of a Fresh Issue (16,53,600 shares) and an Offer for Sale (1,52,400 shares).
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The price band for the issue has been fixed at ₹114 to ₹120 per equity share.
In this article, you will find Highness Microelectronics IPO GMP today, price band, and a detailed review with valuation, strength and risk, industry outlook, financials, and key takeaways. For daywise subscription of the IPOs, check our detailed IPO subscription page with daily updates.
Briefs of Highness Microelectronics IPO Details:
- Price Band: ₹114 – ₹120 per equity share
- IPO Open / Close Dates: March 24, 2026 – March 27, 2026
- Lot Size: 1,200 Shares (Note: Retail Minimum Application is 2 Lots / 2,400 Shares)
- Issue Size: 18,06,000 Equity Shares / ~₹21.67 Crores
- Fresh Issue: 16,53,600 Shares (~₹19.84 Cr)
- Offer for Sale (OFS): 1,52,400 Shares (~₹1.83 Cr)
- Registrar: Skyline Financial Services Private Limited
- Listing Exchange: BSE SME
Investors seeking help about various allotment related issues with the registrar can check our Skyline Financial services IPO allotment status guide which is in detail and answers all the queries step by step.
WHAT IS THE Highness Microelectronics IPO GMP Today?
You can review the GMP for this and other issues on our GMP hub page.
Note: The Grey Market Premium (GMP) changes daily based on market demand. It is an unofficial indicator and is not regularised by SEBI, NSE, or BSE. Investors should not rely solely on GMP for investment decisions.
Listing Updates:
| Type | Issue Price | Open | Gain/loss % |
| Lisiting | 120.00 | 125.00 | 4.17 |
What Are The Important Highness Microelectronics IPO Dates & Allotment Schedule?
For investors planning their capital allocation, here is the critical timeline for the issue:
- IPO Open Date: Tuesday, March 24, 2026
- IPO Close Date: Friday, March 27, 2026
- Basis of Allotment Date: Monday, March 30, 2026
- Refund Initiation Date: Wednesday, April 1, 2026
- Credit of Shares: Wednesday, April 1, 2026
- Listing Date: Thursday, April 2, 2026
What Are The Objectives of Highness Microelectronics IPO?
The company proposes to utilise the Net Proceeds from the Fresh Issue towards the following strategic purposes:
- Capital Expenditure: Approximately ₹5.27 Crores is earmarked for setting up a new Chip on Glass (COG) and Film on Glass (FOG) assembly line in Mumbai. This backward integration will allow in-house manufacturing of display modules, reducing import dependency.
- Working Capital Requirements: A significant portion of ₹6.71 Crores will fund incremental working capital needs to support expanding operations and extended credit terms to clients.
- Debt Repayment:₹1.89 Crores will be utilised to prepay or repay existing high-cost, unsecured borrowings, thereby reducing finance costs.
- General Corporate Purposes: The remaining funds will be used for ongoing corporate exigencies and strategic initiatives.
(Note: The company will not receive any proceeds from the Offer for Sale).
How is The Financial Performance of Highness Microelectronics?
The following table summarises the financial performance of the company based on restated financial statements.
(Figures in ₹ Crores)
| Particulars | Period Ended 31 Dec 25 (9M) | FY 2024-25 | FY 2023-24 | FY 2022-23 |
Total Income | 14.41 | 14.17 | 10.99 | 9.91 |
Profit After Tax (PAT) | 3.41 | 2.52 | 2.39 | 0.44 |
EBITDA | 5.55 | 4.52 | 5.97 | 3.13 |
Total Borrowing | 8.20 | 4.93 | 1.38 | 1.36 |
Assets | 24.03 | 14.31 | 8.20 | 4.78 |
Source: RHP
Financial Analysis & Observations:
Total Income:
The company demonstrated robust growth, with total income increasing from ₹9.91 Crores in FY23 to ₹14.17 Crores in FY25. This growth accelerated in the first nine months of FY26, reaching ₹14.41 Crores, driven by a strategic pivot towards high-margin export markets.
Profit After Tax (PAT):
Profitability surged significantly from ₹0.44 Crores in FY23 to ₹2.52 Crores in FY25. The impressive PAT of ₹3.41 Crores in just nine months of FY26 highlights the successful scaling of its specialised digital-imaging products.
EBITDA:
Operational efficiency is strong, with EBITDA rising to ₹5.55 Crores in the recent stub period. The EBITDA margins have remained healthy, reflecting the company's pricing power in its niche segment.
Total Borrowing:
To fund rapid expansion, total borrowings increased sharply to ₹8.20 Crores by December 2025. The planned IPO proceeds for debt repayment will be crucial in managing this leverage and reducing interest burdens.
Assets:
The asset base nearly tripled from ₹8.20 Crores in FY24 to ₹24.03 Crores by December 2025. This significant expansion is primarily due to the buildup of inventory required to support the growing order book and scaling operations.
What Are The P/E Ratio and Peer Comparison?
Based on its Fiscal Year 2025 earnings per share (EPS) of ₹7.19, the IPO is priced at a Price-to-Earnings (P/E) multiple of approximately 16.68x at the upper end of the price band (₹120).
P/E Ratio = ₹120 (Price) / ₹7.19 (Earnings Per Share)
P/E Ratio ≈ 16.68x
Peer Comparison:
According to the Red Herring Prospectus (RHP), there are no listed companies in India that are engaged in a business exactly similar to that of Highness Microelectronics. Because they operate in a highly specialised space providing bespoke digital imaging solutions, they have no listed industry peers for direct comparison.
Analysis:
Highness Microelectronics is entering the market at a P/E multiple of approximately 16.68x based on its FY25 EPS. In the absence of listed peers, investors must value the company based on its internal metrics. With an exceptional Return on Net Worth (RoNW) of 47.09% in FY25, the company demonstrates highly efficient capital utilisation, suggesting the IPO is priced reasonably relative to its strong return ratios and growth trajectory.
What is The Industry Outlook of Highness Microelectronics Limited?
Growth Potential:
The demand for specialised digital-imaging solutions and displays is growing rapidly across sectors like medical devices, industrial automation, and defence.
Market Trends:
The push for local manufacturing (Make in India) is a significant tailwind. By setting up in-house COG and FOG assembly lines, Highness is positioning itself to substitute imports and cater to the rising domestic and export demand for customised display modules.
What Are The Strengths and Risks of Highness Microelectronics IPO?
Strengths:
- Niche Expertise: Operating in the specialised digital-imaging space provides high entry barriers and strong pricing power.
- Export Growth: The company has successfully diversified its revenue globally, with export sales surging to over 48% of total revenue by December 2025.
- High Return Ratios: A RoNW of 47.09% (FY25) indicates exceptional management of shareholder funds.
Risks:
- Import Dependency: Between 84% to 92% of raw materials are imported (mainly from China), exposing the company to forex risks and geopolitical supply chain disruptions.
- Customer & Supplier Concentration: The top supplier accounts for nearly 90% of purchases, and the top 10 customers contribute 84.5% of revenue, indicating high dependency risks.
- Negative Cash Flows: The company reported negative operating cash flows in recent periods due to high working capital requirements for inventory buildup.
Key Considerations for Investors
This section is neutral and for informational purposes only.
Investors should note the Minimum Investment structure.
- Minimum Application: The lot size is 1,200 Shares. Based on the data provided, the minimum application for Retail Individual Investors is 2 Lots (2,400 Shares), amounting to ₹2,88,000. Note: This investment amount exceeds the typical ₹2 Lakh retail limit, which implies this category effectively targets HNI investors.
- Valuation: At ~16.7x P/E (FY25), the pricing appears attractive given the high growth and exceptional RoNW.
- Risk Profile: While the growth story is strong, the high import dependency and client/supplier concentration are critical risks to monitor.
Key Takeaways
- IPO Price: ₹120 per share (Upper Band).
- Min Investment: ₹2,88,000 (2,400 Shares).
- Financials: Revenue ₹14.17 Cr (FY25)
- Allotment: March 30, 2026.
- Listing: BSE SME platform on April 2, 2026.
FAQs on Highness Microelectronics IPO
What is Highness Microelectronics IPO GMP today?
The GMP is a dynamic market sentiment indicator. Check the updated gmp at our gmp hub section.
What is Highness Microelectronics IPO price band?
The price band is fixed at ₹114 to ₹120 per equity share.
What is Highness Microelectronics IPO allotment date?
The allotment status is expected to be finalised on Monday, March 30, 2026.
How to check Highness Microelectronics IPO allotment status?
Investors can check the status on the website of Skyline Financial Services Private Limited (the Registrar) or via the BSE IPO allotment portal. Details of allotment of this and other IPOs can also be found at our IPO allotment status hub page.
What is Highness Microelectronics IPO listing date?
The shares are tentatively scheduled to list on Thursday, April 2, 2026.
Investment Perspective on Highness Microelectronics IPO
Highness Microelectronics offers a high-growth, high-return opportunity in a niche technology sector. The strategic move towards backward integration (in-house assembly) and strong export growth are positive catalysts. However, investors must carefully weigh the attractive valuation against the risks of high import dependency, negative cash flows, and the high minimum investment ticket size.
Disclaimer: This article is strictly for educational purposes. Please consult a SEBI-registered investment advisor before making any investment decisions.
