Highness Microelectronics Begins Trading on BSE SME Platform: Key Details from the IPO's First Day

Highness Microelectronics IPO Day 1 Report

Key Highlights

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

Subscription Status

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• 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.

IPO Details

• Issue Price: The price band of the public issue has been fixed at ₹114 to ₹120 per equity share.
• Issue Size: The SME IPO is a fresh issue of 16,53,600 shares and an OFS of 1,52,400 shares.
• Net Proceeds: The company will use the net proceeds from the issue to set up an assembly line at a factory situated at Rabale, Mumbai, and for loan payments, to meet working capital requirements, and for general corporate purposes.
• Listing: The IPO is proposed for listing on the BSE SME on Thursday, April 2.

Financial Performance

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• Revenue from Operations: 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.
• Profit: 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.

Grey Market Premium

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