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Highness Microelectronics Ltd IPO
Highness Microelectronics Ltd
₹2,73,600 /2400 sharesMinimum investment
IPO listing details
Listed on
2 Apr '26
Issue price
₹120.00
Listing price
₹125.00
Listing gains
₹5.00 (4.17%)
Exchange
--
IPO details
Minimum investment
₹2,73,600
Price range
₹114 - ₹120
Lot size
1,200
Issue size
21.67 Cr
Face value
10
IPO document
Subscription rate
Qualified Institutional Buyers81.95x
Non-Institutional Investor267.99x
Retail Individual Investor183.75x
Total179.66x
As of 27 Mar'26, 05:31 PM
Schedule
24 Mar 2026
IPO open date
27 Mar 2026
IPO close date
30 Mar 2026
Allotment date
30 Mar 2026
Funds unblock or debit
2 Apr 2026
Tentative listing date
About
Founded in
2007
MD/CEO
Mr. Gaurav Manjul Kejriwal
Parent organisation
Highness Microelectronics Ltd
Highness Microelectronics Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
Highness Microelectronics is ISO 9001:2015 certified for quality management systems and ISO 13485:2016 certified for medical device quality standards. It claims to follow structured standard operating procedures (SOPs) and conduct quality checks at various stages of manufacturing to ensure compliance with defined standards.
The company claims to have the capability to provide customised display solutions based on the technical requirements of OEM clients. This includes working closely with customers to design and deliver products tailored to specific applications and industry needs.
Highness Microelectronics claims to have developed weather-resistant and rugged display solutions designed to function in challenging environments. These products are built to withstand conditions such as extreme temperatures, vibrations, and outdoor exposure.
The company claims to have built an established customer base with repeat business from existing clients. While it does not have formal long-term contracts, it states that ongoing relationships with customers contribute to revenue continuity over time.
Highness Microelectronics has a diversified presence across multiple industry verticals, including industrial automation, healthcare, railways, and defence. This diversification may reduce reliance on a single sector.
The company has received allotment for land in an electronics manufacturing cluster in Goa and is in the process of setting up a new manufacturing facility.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 9.67 crore in FY23 to Rs 10.70 crore in FY24 to Rs 14.07 crore in FY25, while PAT increased from Rs 0.44 crore in FY23 to Rs 2.39 crore in FY24 to Rs 2.52 crore in FY25.
The company depends heavily on imported raw materials, which made up Rs 5.10 crore (92.94%), Rs 5.56 crore (89.68%), Rs 3.05 crore (84.41%), and Rs 3.31 crore (88.38%) of total purchases in the period ended December 31, 2025, FY25, FY24, and FY23, respectively. Any adverse change in raw material availability, import restrictions, shipment costs, or global price movements can negatively impact the company’s operations and margins.
The company relies on a limited supplier base for procurement. Its top 1 supplier accounted for Rs 3.99 crore (72.71%) in the period ended December 31, 2025, Rs 5.55 crore (89.60%) in FY25, Rs 2.92 crore (80.90%) in FY24, and Rs 3.31 crore (88.34%) in FY23, while its top 10 suppliers contributed Rs 5.41 crore (98.48%), Rs 6.04 crore (97.49%), Rs 3.50 crore (96.98%), and Rs 3.64 crore (97.18%) in the same periods, respectively. Any failure to retain these suppliers or procure materials from alternate sources on similar terms can adversely affect the company’s production and financial condition.
A significant portion of the company’s sourcing is concentrated in China. Imported purchases accounted for Rs 5.10 crore (92.94%), Rs 5.56 crore (89.68%), Rs 3.05 crore (84.41%), and Rs 3.31 crore (88.38%) during the period ended December 31, 2025, FY25, FY24, and FY23, respectively. Any adverse geopolitical development, tariff change, trade restriction, or logistics disruption affecting this region can negatively impact the company’s supply chain and profitability.
The top 10 customers contributed Rs 11.65 crore (82.43%), Rs 11.89 crore (84.51%), Rs 7.71 crore (72.01%), and Rs 5.31 crore (54.86%) of revenue in the period ended December 31, 2025, FY25, FY24, and FY23, respectively. Any failure to retain these customers, expand the customer base, or a reduction in orders from them can adversely affect the company’s business and financial standing.
The company has meaningful exposure to foreign exchange fluctuations because both imports and exports are denominated partly in foreign currencies, and it does not hedge this exposure. Export revenue stood at Rs 6.79 crore (48.05%), Rs 4.31 crore (30.65%), Rs 0.12 crore (1.11%), and Rs 0.07 crore (0.69%) in the period ended December 31, 2025, FY25, FY24, and FY23, respectively. Any adverse movement in currency exchange rates can negatively impact profitability, cash flows, and liquidity.
The company operates through a single manufacturing unit located in Rabale, Mumbai. Any operational disruption, such as equipment failure, power shortages, regulatory issues, natural calamities, or shutdowns at this facility, can materially affect production, deliveries, and overall business continuity.
The company has reported negative cash flows in some recent periods. It recorded negative operating cash flows of Rs 0.56 crore and Rs 1.43 crore in the period ended December 31, 2025, and FY25, respectively, and negative investing cash flows of Rs 1.11 crore, Rs 1.84 crore, Rs 2.81 crore, and Rs 3.66 crore in the period ended December 31, 2025, FY25, FY24, and FY23, respectively. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
As of December 31, 2025, the company has total trade receivables amounting to Rs 10.58 crore. Any failure to collect these receivables on time or at all can negatively impact the business and its financial condition.
The company’s revenue is significantly dependent on the industrial automation segment, which contributed Rs 0.64 crore (4.57%), Rs 6.96 crore (49.45%), Rs 5.24 crore (48.95%), and Rs 3.38 crore (34.97%) during the period ended December 31, 2025, FY25, FY24, and FY23, respectively. Any reduction in demand or loss of customers from this segment can negatively impact the company’s revenue and profitability.
The company’s manufacturing capacities remain underutilised in certain product categories. For example, industrial-grade monitor utilisation was 30.53% in FY25 and 37.23% in FY24, while medical-grade monitor utilisation remained below 24% across the periods disclosed. Continued underutilisation of installed capacity can lead to lower operating efficiency and higher per-unit costs.
The company, its subsidiaries, promoters, and directors are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
Application details
For Highness Microelectronics IPO, eligible investors can apply as Individual investor.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Individual investor | ₹114 - ₹120 | ₹2 - ₹5 Lakhs | 1200 |