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05 Apr 2026
Digital imaging and display solutions provider Highness Microelectronics' initial public offering attracted robust demand from investors, subscribing over 180 times on March 27, the final day of bidding. This response was despite sharp correction in equity markets that corrected 2 percent on Friday.
The company is raising Rs 21.67 crore via maiden public issue of 18.06 lakh shares which comprises of fresh issue of 16.53 lakh shares, and an offer-for-sale of 1.52 lakh shares. The price range for the offer was Rs 114-120 per share.
The initial public offering (IPO) issue has garnered bids for 23.34 crore shares via 60,192 applications in the last three working days from March 24-27. This was 108.33 times higher than the offer size of 12.94 lakh shares.
The overwhelming demand was seen across categories of investors, with non-institutional and retail investors taking the lead amongst them with 268.13 times and 185.11 times subscription, respectively. The part set aside for qualified institutional buyers was subscribed 81.95 times.
Highness Microelectronics' IPO shares traded at more than 20 percent premium in the grey market, the market observers said.
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The IPO share allotment will be finalised by March 30, while Highness Microelectronics shares will be available for trading on the BSE SME effective April 2.
The company designs, develops, assembles, and manufactures digital imaging solutions like thin film transistor and liquid crystal display (LCD) module, display controllers, electrolumiscent displays, cable assembly & harness, display-enhancement solutions, open-frame displays, panel-mount displays, and medical grade display monitors.
Of the total IPO proceeds, Rs 5.26 crore will be spent for setting up an assembly line in Mumbai, and Rs 6.7 crore for working capital requirements.
Further, Rs 1.89 crore will be utilised for repayment of borrowing, and the remainder funds for general corporate purposes.
