Highness Microelectronics IPO

Highness Microelectronics Limitedhighnessmicro.com

ListedSMEInformation TechnologyBSE SME

Price band: ₹114 – ₹120
Issue size: ₹21.67 Cr
Lot size: 1200 sh
Bidding: 24 – 27 Mar
Grey market: —

Market data to 30 Oct 2026. Company figures are as filed, sourced 16 Oct 2026. Every figure’s origin is listed under Sources.

IPOVista score

How this issue scores, and why

Every pillar opens to show the raw metric, the curve it was mapped through, the sub-score and its weight. Disagree with the weighting if you like — the arithmetic is all here.

80Exceptional

IPOVista score

Broadly well-balanced

63% of the scoring model was backed by disclosed data for Highness Microelectronics, giving medium confidence. Weights for anything missing were redistributed rather than scored as zero.

How this score is built

PillarScoreWeight

Below the line: market sentiment. Capped at 8 of 100 points so a hot grey market can tilt a score but never carry one.

Read this before the number

SME platform listing
SME issues trade in larger lot sizes with thinner volumes than mainboard listings, which makes exiting a position harder.

The IPOVista Score is a transparent summary of disclosed fundamentals and issue terms. It is research, not investment advice, and it cannot predict listing performance.

The company

What the business actually does

Founded 2007 · Office 1C3, 1st Floor, Gundecha Onclave, Kherani Road, Saki Vihar, Andheri (East), Mumbai, Maharashtra 400072 · 47 employees

Highness Microelectronics assembles and manufactures display hardware from Mumbai. Its off-the-shelf catalogue covers TFT and LCD flat-panel modules, display controllers, electroluminescent and vacuum-fluorescent displays, touch screens, backlight drivers and inverters, and cable assemblies and harnesses. Alongside those parts it ruggedises commercial display panels for buyers who cannot use consumer-grade screens: brightness enhancement for outdoor readability, wide operating-temperature builds, EMI shielding, night-vision compatibility, optical bonding, vandal-proofing and anti-reflective or anti-glare coating. The finished goods are industrial-grade and medical-grade monitors sold to industrial-automation builders, medical and healthcare equipment makers, railway and metro rolling-stock suppliers, and defence and aerospace programmes. The company holds ISO 9001:2015 and ISO 13485:2016 certification and had 47 employees at 31 December 2025.

Revenue comes from selling display modules and assembled monitors, mostly built to a customer's specification, so each order carries engineering work before production. Total income was Rs 14.17 crore in FY25 against Rs 10.99 crore in FY24, with profit after tax of Rs 2.52 crore and Rs 2.39 crore. Panels, glass and driver electronics are bought in, a large share imported from China, so margins move with component prices, import rules and the rupee. The prospectus flags no formal long-term customer contracts, so repeat orders rest on relationships. Working capital is the binding constraint: Rs 6.71 crore of the net proceeds was earmarked for it, and borrowings rose from Rs 1.38 crore at March 2024 to Rs 8.20 crore at December 2025.

The company on paper

Legal name: Highness Microelectronics Limited
IncorporatedThe legal entity is often incorporated years before the brand you know, and may have traded under another name first: 6 Sep 2007
CINCorporate Identity Number — the unambiguous handle for looking this company up at the MCA: L72900MH2007PLC173854
Sector: Information Technology · Industrial and medical-grade display modules and ruggedised display monitors
Employees: 47
Registered office: Office 1C3, 1st Floor, Gundecha Onclave, Kherani Road, Saki Vihar, Andheri (East), Mumbai, Maharashtra 400072
Promoters: Gaurav Manjul Kejriwal, Manjul Kumar Kejriwal, Shruti Gaurav Kejriwal
Promoter holding, pre-issue: 99.9%
Promoter holding, post-issue: 65.0%
Website: highnessmicro.com

The numbers

Financial performance

Revenue has compounded at 19.6% a year across the 3 reported financial years.

Revenue and profit

Figures in ₹ crore, as published in the accounts this record was built from. Interim quarters are not annualised.

Revenue
Profit after tax

Margin trend

Profit and operating margin as a percentage of revenue

Net margin
EBITDA margin

Net worth and borrowings

At each period end, in ₹ crore. Gearing below each period is borrowings over net worth, from these same figures.

Net worth
Total borrowings

The price

Valuation

What the issue asks for the business, set against what the business earns.

No valuation ratios are recorded for this issue. The price band and the reported financials above are what this record holds.

The terms

How the issue is structured

92% of the money raised is fresh capital that goes to the company; the rest goes to shareholders selling down.

Fresh issueNew shares — proceeds go to the company: ₹19.84 Cr
Offer for saleExisting shares — proceeds go to the selling shareholders: ₹1.83 Cr
Total issue size: ₹21.67 Cr
Shares offered in the OFS: —
Pre-issue shares outstanding: —
Employee discount: —
Market maker portionSME issues require a market maker to provide two-way quotes: 91,200

What the issue does to ownership

Share of paid-up equity before and after the offer. The promoters give up 34.9% of the company.

Promoters
Everyone else

Hover or focus a segment to see who it is. The two bars are the same company, measured before and after the offer.

Percentages are of paid-up equity, and the “after” column assumes the offer is fully subscribed, which is how the offer document states it. This record does not disclose a pre- and post-issue share count, so the part of the company actually changing hands is not split out — everyone who is not a promoter is shown together.

Demand

What the market is bidding

Subscription is hard exchange data. Grey-market premium is not — it is an unofficial quote, shown because readers want it and labelled because it deserves the label.

Subscription by category

Cumulative bid multiples at the end of day 3. Anchor allocations are excluded.

Hover or focus a category to see who bids in it.

Total subscription193.91×

A category subscribed above 1× is oversubscribed; allotment in that category then runs as a lottery or on a proportionate basis.

Grey market premium

Unofficial over-the-counter sentiment

No grey-market quotes have been recorded for this issue.

Outcome

How it actually listed

Issue price: ₹120.00
Listed at: ₹125.00
Listing gain: up 4.2%
Since listing: up 160.2%
Against the issue price: up 171.0%

Work it out

What this means for one application

Three calculations, each stating the assumption it rests on.

What one application costs

Shares are applied for in whole lots at the cut-off price. The full amount is blocked in your bank account under ASBA, not debited, until allotment.

Lots

Shares applied for: 2,400
At cut-off price: ₹120.00
Amount blocked: ₹2,88,000

One lot is 1200 shares at ₹1,44,000. This issue requires a minimum of 2 lots, so the smallest application is ₹2,88,000. That is how the SME board is built rather than a quirk of this issue: the minimum application is set above the ₹2,00,000 that caps a retail bid on the mainboard — two lots rather than one. The smallest bid here still sits in the individual investors’ category, the one the subscription figures call retail, and when that category is oversubscribed the minimum application is allotted by draw of lots — so the odds beside this apply directly.

Odds of getting an allotment

When the retail category is oversubscribed, SEBI requires a lottery for the minimum lot. Every application has the same chance, whatever its size.

~0.5%

chance of one lot, per application

Retail subscription: 185.11×
Applicants per share available: 185.1× the retail quota

This is an estimate of a lottery, not a prediction. Actual odds depend on the final basis of allotment, how many applications were at the minimum lot, and rejections for technical reasons. Applying from multiple distinct PANs is the only legitimate way to hold more tickets in that lottery.

What it actually did

This issue has listed, so there is a real number instead of a prediction. The grey-market premium is shown beside it for comparison.

₹125.00

listed at, 4.2% against the issue price

Issue price: ₹120.00
Premium said: —
If allotted 1200 shares: ₹6,000

Listing-day figures are as reported by the exchanges.

Our read

Easy to misread

Grounded only in figures disclosed in the prospectus. This is analysis, not a recommendation.

Easy to miss in the prospectus

The Dec-2025 column is a nine-month stub (9M FY26), not a full year: its Rs 14.41 crore of income sits next to FY25's Rs 14.17 crore annual figure and is not comparable to it.
The revenue line is total income as the trackers reproduce it, so it includes other income; revenue from operations in the prospectus will be slightly lower.
FY24 EBITDA of Rs 5.97 crore is larger than FY25's Rs 4.52 crore even though FY25 income was higher, and it sits Rs 2.80 crore above FY24 profit before tax of Rs 3.16 crore against a Rs 1.25 crore gap in FY25. The FY24 EBITDA could not be reconciled to the prospectus and should be treated as unverified.

Straight from the filing

Read it yourself

No official copy of the offer document has been linked here yet.

The paperwork

Who is running the issue

Lead managers: Fintellectual Corporate Advisors Private Limited
RegistrarAllotment status is checked on the registrar's own site: Skyline Financial Services Private Limited

How these figures were checked

Built from 10 independently published accounts of this issue, agreeing with each other. No copy of the filing itself is linked here, so nothing on this page has been reconciled against the primary document — treat every figure as reported rather than verified.

BSE live quote page for HIGHNESS (scrip 544741) - ISIN, scrip code, face value, BSE SME IPO index, basic industry · read 16 Oct 2026
Company website - Highness Microelectronics Ltd (products, end markets, registered address) · read 16 Oct 2026

The prospectus is the authoritative document. Check anything that matters against it before you act.

At a glance

Board: SME platform
Opens: 24 Mar 2026
Closes: 27 Mar 2026
Allotment: 30 Mar 2026
Lists: 2 Apr 2026
Revenue (FY25): ₹14.17 Cr
Profit (FY25): ₹2.52 Cr

Timeline

Every step in this issue's calendar has passed.

Tap a step for what it means. Dates are as disclosed in the prospectus and can move.

On this page

IPOVista publishes research and data compiled from public filings and exchange disclosures. Nothing here is investment advice, a recommendation, or an offer to buy or sell any security. Figures can contain errors and sources can be stale — verify against the prospectus before you act, and speak to a SEBI-registered adviser. Investing in securities carries risk, including loss of capital.