Highness Microelectronics Ltd IPO
Status: Closed
Overview
IPO date
24 Mar 2026 to 27 Mar 2026
Face value
₹ 0 per share
Price
₹ 114 to ₹120 per share
Issue Size
1,806,000 shares
(aggregating up to ₹ 21.67 Cr)
(aggregating up to ₹ 21.67 Cr)
Allotment Date
30 Mar 2026
Listing at
NSE
Issue type
Book Building - SME
Sector
Electronics
Objectives of Highness Microelectronics Ltd IPO
Highness Microelectronics Ltd IPO Strategy
About Highness Microelectronics Ltd
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T&C*
Strengths vs Risks of Highness Microelectronics Ltd
Know the pros & cons
Strengths
Quality Assurance and Quality Control of our products.- Experienced and Qualified Management and Employee base.
- Strong, cordial & long-term relationship with our clients.
- Tailored/ Customised solutions to Customers as per their requirements.
- Wide range of product portfolio.
Risks
- The company's manufacturing activity is dependent on the availability and cost of raw materials. Any shortage in supply,
fluctuations in raw material prices, restrictions on imports, or an increase in shipment costs may adversely affect
its business operations, financial condition, results of operations, and cash flows.
- The company relies on limited suppliers for its products, loss of these suppliers may have an adverse effect on the company's business,
results of operations and financial conditions.
- The company sources its majority of the raw materials from international market i.e. China. Any adverse developments
affecting the company's procurement in this region could have an adverse impact on its revenue and results of operations
- The company is dependent on certain customers and the loss of any of these customers or cancellation by customers
or a delay or reduction in their orders could have a material adverse effect on its business, results of operations
and financial condition.
- The company's business has experienced employee attrition over the past three financial years, which may impact operational
continuity and increase recruitment and training costs. High turnover could also affect the retention of key talent
and expertise critical to the company's growth and performance.
- Certain portion of its imports and exports are denominated in foreign currencies; the company does not hedge its foreign
exchange exposure; adverse currency fluctuations may materially impact the company's profitability and liquidity.
- The company's business is dependent on its manufacturing unit and the company is subject to certain related risks; Unplanned
slowdowns, unscheduled shutdowns or prolonged disruptions in the company's manufacturing operations could have an
adverse effect on its business, results of operations, cash flows and financial condition.
- The Company has undergone frequent changes in statutory auditors in the past, and there can be no assurance
that such changes will not occur in the future.
- The Company has reported certain negative cash flows from its operating activity, investing activity and financing
activity during the preceding years. Negative cash flows in the future could adversely affect its results of the company's operations and financial condition.
- The company does not own the registered office and factory from which the company carries out and will be carrying out the company's business
activities. In case of non-renewal of lease agreements or dispute in relation to use of the said premise/s, the company's business
and results of operations can be adversely affected.
- There have been certain outstanding litigation involving the Company, Promoters, Directors, Key Managerial
Personnel & Senior Managerial Personnel. Any adverse outcome of which may adversely affect its business,
reputation and results of operations.
- The company is subject to strict quality requirements and the success and wide acceptability of its products is largely
dependent upon the company's quality controls and standards. Any failures to comply with quality standards may adversely
affect its business prospects and financial performance, including cancellation of existing and future orders.
- The company's Promoter group companies, M/s Global Business, Sole Proprietorship of Promoter also operate in the same
business which are closely related to the company's own business activities. Any conflict of interest arising between the company's
operations and promoter group entity, such as competition for resources, market share, or customer
relationships, could have an adverse impact on its business, financial performance, and growth prospects.
- A substantial portion of the company's revenue is concentrated from the Industrial Automation Industry. A loss of customer
from this Industry may affect its revenues and profitability.
- The company's commercial success is largely dependent upon its ability to develop and design innovative products suitable
for the requirements of the company's customers. The company's inability to effectively utilize and manage its ability to develop and
design innovative products would impact its
business, revenue and profitability.
- The company's success depends on the continued services of its Skilled Manpower, Senior Management Personnel & Key
Managerial Personnel and any inability to attract or retain such Personnel could adversely affect the company's business and
growth prospects.
- The company is exposed to the risk of delays or non-payment by the company's clients and other counter parties, which may also result
in cash flow mismatches.
- The company's revenue is mainly concentrated in few key states, which collectively contribute a substantial portion of its total
income. Consequently, any unfavorable economic, regulatory, or operational changes in these key regions could
significantly affect the company's business performance, revenue streams, and overall financial outcomes.
- The company requires sizeable amounts of working capital for its continued operation and growth. The company's inability to meet its
working capital requirements could have a material adverse effect on the company's business, results of operations and financial
condition.
- Under-utilization of the company's manufacturing capacities and an inability to effectively utilize its existing manufacturing
capacities could have an adverse effect on the company's business, future prospects and future financial performance.
- The company does not have long-term agreements with any of its customers which exposes the company to the risk of fluctuating demand and potentially less predictable revenue streams. This lack of stability in customer relationships may have an adverse
effect on the company's business operations. Consequently, it could negatively impact its financial condition and overall
results.
- The company has previously entered into related party transactions which, although conducted at arm's length and in
compliance with applicable laws, may not always be on terms as favourable as those with unrelated parties, and such
transactions may continue in the future.
- There are certain instances of delays in Statutory filing by the company. Any further delays in Statutory filing may attract
financial penalties from the respective government authorities and in turn may have a material adverse impact on
the company's financial condition and cash flows.
- There are certain discrepancies/errors/delay filings noticed in some of its corporate records relating to forms filed
with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate or any other law could impact the
financial position of the Company to that extent.
- The Objects of the Offer for which funds are being raised, are based on the company's management estimates and any bank or
financial institution or any independent agency has not appraised the same. The deployment of funds in the project
is entirely at its discretion, based on the parameters as mentioned in the chapter titles "Objects of the Offer".
- The company's operations may be adversely impacted by customs duty dues, penalties, or changes in tariff structures.
- The company's Promoters and Senior Managerial Personnel play a vital role in the company's operations, and the company rely significantly on
their knowledge and experience hence, their continued association is critical to its business. Any loss of their
continued association may disrupt the company's business, impact strategy execution, and adversely affect its financial
performance.
- The company has incurred indebtedness which exposes the company to various risks which may have an effect on its business and
results of operations.
- If the Company is unable to protect its intellectual property, or if the Company infringes on the intellectual
property rights of others, the company's business may be adversely affected.
- Failures to obtain, Renew or Maintain Statutory and Regulatory Approvals that may be required in the ordinary
course of business could adversely Affect its Business and Operations.
- After the conversion of the Company into public limited, the company is required to update the name of the company in
some of the statutory approvals, certificates, licenses and registrations due to the change of Status of the Company.
- The Company will not receive any proceeds from the Offer for Sale. The company's Promoter Selling Shareholders will receive
the proceeds from the Offer for Sale.
- Reliance has been placed on declarations and affidavits furnished by certain of its promoters and Directors for
details of their profiles included in this Red Herring Prospectus.
- The company's business is dependent on the efficient functioning of its manufacturing facilities, and any obsolescence, damage,
theft, breakdown, or failures to properly repair and maintain the company's machinery may adversely affect its operations, cash
flows, financial condition, and results of operations."
- The average cost of acquisition of Equity Shares held by the company's Promoters and selling Shareholder's may be less than
the Offer Price.
- Uninterrupted availability of power and fuel is critical for the smooth functioning of its manufacturing operations
and overall business activities.
- The company's Promoters and members of the Promoter Group have significant control over the Company and have the ability
to direct its business and affairs, their interests may conflict with interests as a shareholder.
- The company's quality assurance and quality control processes may not always detect all defects, non-conformities, or
deficiencies in workmanship, which could adversely impact the performance of its display solutions and, in turn,
affect the company's reputation, financial condition, growth prospects, and results of operations.
- The company's insurance coverage may not be adequate to protect the company against all potential losses to which the company may be subject,
and this may have a material effect on the company's business and financial condition.
- The company's Promoter and Directors may have interests in the company other than reimbursement of expenses incurred and
normal remuneration or benefits.
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to
certain compliance requirements, including prior Shareholders' approval. Any delay or denial of approval may
restrict business plans; dissenting shareholders are entitled to an exit opportunity which could adversely affect its
financial condition.
- The company may not be able to detect or prevent all instances of fraud or misconduct by the company's employees, which could materially
and adversely affect its business, reputation, results of operations, financial condition, and cash flows.
- No monitoring agency has been appointed as the Offer size is below Rs. 5,00,000.00 Thousands. Utilization of proceeds
will be overseen by the Statutory Auditors and Audit Committee, which may be less effective than independent
monitoring.
- The company's future fund requirements, in the form of further issue of capital or securities and/or loans taken by the company, may be
prejudicial to the interest of the Shareholders depending upon the terms on which they are eventually raised.
- Both the Company and the Selling Shareholders are required to bear Offer-related expenses in proportion to their
respective components of the Offer, which may increase the financial burden on each party. Any escalation in Offer
expenses may adversely impact the Company's liquidity as well as the Selling Shareholders' net proceeds.
- The company has not commissioned an industry report for the disclosures made in the chapter titled `Industry Overview' and
made disclosures on the basis of publicly available data and such data has not been independently verified by the company.
There can be no assurance that such publicly available data is either complete or accurate.
- The Equity Shares may not be listed on BSE Limited, as listing approval is subject to BSE's discretion and various
regulatory conditions. Any refusal or delay in listing may result in illiquidity of the investment and potential financial
loss to investors.
- The company's ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows,
working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
- The Equity Shares have never been publicly traded, and, after the Offer, the Equity Shares may experience price and
volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the
Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Offer Price, or at
all.
How to check the allotment status of Highness Microelectronics Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
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The IPO opens on 24 Mar 2026 & closes on 27 Mar 2026.
Highness Microelectronics Limited was originally incorporated on September 6, 2007, as a Private Company as Highness Micro Electronics Private Limited', with the Registrar of Companies, Mumbai. Further, the name of Company was changed to Highness Microelectronics Private Limited' dated March 5, 2008. Subsequently, Company converted the status into a Public Limited and the name of the Company was changed to Highness Microelectronics Limited' w.e.f. November 11, 2024.
Company is engaged in the Design, Development, Integration, Assembly and Manufacture of Digital-Imaging Solutions. It operates in two main categories Off the Shelf Products and Market Specific Solutions / Project. Under Products' category, it offer Flat Panel Displays like Thin Film Transistor (TFT and Liquid Crystal Display (LCD) module, Display Controllers, Electrolumiscent Displays, Vacuum Fluorescent Displays, Touch Screens, Cable Assembly & Harness, Backlight Drivers & Inverters and Display-Enhancement solutions.
Market-specific solution/ Project category includes Display-monitors in form factors such as Open-Frame Displays, Panel-Mount Displays, Industrial Grade Displays and Medical Grade Display Monitors. The industry verticals for these display monitors are Industrial Automation, Medical & Healthcare, Transportation (Trains & Metros and Automobiles) and Surveillance & Defence.
Further under Display-Enhancement Solutions', Company undertake value addition process to ruggedize Commercial off the Shelf (COTS) displays; these value addition processes include- Backlight enhancement for High-Brightness for Outdoor & Direct-Sunlight readability, Wide-Operating Temperature for extreme-climatic conditions, Electro-Magnetic Interference (EMI) shielding for mission critical operations, Night Vision Compatibility (NVIS), Optical-Bonding , Vandal-Proofing as well as outdoor visibility, Adding cover glass to achieve Anti-Reflective, Anti-Glare, AntiFingerprint/Smudge etc.
Company is planning the Initial Public Offer of 18,06,000 equity shares having the face value of Rs 10 per share, comprising a Fresh issue of 16,53,600 Equity shares and the Offer for sale of 1,52,400 Equity shares.
Highness Microelectronics Ltd IPO will close on 27 Mar 2026.
- Quality Assurance and Quality Control of our products.
- Experienced and Qualified Management and Employee base.
- Strong, cordial & long-term relationship with our clients.
- Tailored/ Customised solutions to Customers as per their requirements.
- Wide range of product portfolio.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Gaurav Manjul Kejriwal | 2067390 | 58.9 | 2028990 | 39.29 |
| 2 | Manjul Kumar Kejriwal | 947700 | 27 | 833700 | 16.15 |
| 3 | Shruti Gaurav Kejriwal | 140400 | 4 | 140400 | 2.72 |
| 4 | Manju Devi Kejriwal | 245700 | 7 | 245700 | 4.76 |
| 5 | Chhavi Nirav Shah | 105300 | 3 | 105300 | 2.04 |
- The company's manufacturing activity is dependent on the availability and cost of raw materials. Any shortage in supply, fluctuations in raw material prices, restrictions on imports, or an increase in shipment costs may adversely affect its business operations, financial condition, results of operations, and cash flows.
- The company relies on limited suppliers for its products, loss of these suppliers may have an adverse effect on the company's business, results of operations and financial conditions.
- The company sources its majority of the raw materials from international market i.e. China. Any adverse developments affecting the company's procurement in this region could have an adverse impact on its revenue and results of operations
- The company is dependent on certain customers and the loss of any of these customers or cancellation by customers or a delay or reduction in their orders could have a material adverse effect on its business, results of operations and financial condition.
- The company's business has experienced employee attrition over the past three financial years, which may impact operational continuity and increase recruitment and training costs. High turnover could also affect the retention of key talent and expertise critical to the company's growth and performance.
- Certain portion of its imports and exports are denominated in foreign currencies; the company does not hedge its foreign exchange exposure; adverse currency fluctuations may materially impact the company's profitability and liquidity.
- The company's business is dependent on its manufacturing unit and the company is subject to certain related risks; Unplanned slowdowns, unscheduled shutdowns or prolonged disruptions in the company's manufacturing operations could have an adverse effect on its business, results of operations, cash flows and financial condition.
- The Company has undergone frequent changes in statutory auditors in the past, and there can be no assurance that such changes will not occur in the future.
- The Company has reported certain negative cash flows from its operating activity, investing activity and financing activity during the preceding years. Negative cash flows in the future could adversely affect its results of the company's operations and financial condition.
- The company does not own the registered office and factory from which the company carries out and will be carrying out the company's business activities. In case of non-renewal of lease agreements or dispute in relation to use of the said premise/s, the company's business and results of operations can be adversely affected.
- There have been certain outstanding litigation involving the Company, Promoters, Directors, Key Managerial Personnel & Senior Managerial Personnel. Any adverse outcome of which may adversely affect its business, reputation and results of operations.
- The company is subject to strict quality requirements and the success and wide acceptability of its products is largely dependent upon the company's quality controls and standards. Any failures to comply with quality standards may adversely affect its business prospects and financial performance, including cancellation of existing and future orders.
- The company's Promoter group companies, M/s Global Business, Sole Proprietorship of Promoter also operate in the same business which are closely related to the company's own business activities. Any conflict of interest arising between the company's operations and promoter group entity, such as competition for resources, market share, or customer relationships, could have an adverse impact on its business, financial performance, and growth prospects.
- A substantial portion of the company's revenue is concentrated from the Industrial Automation Industry. A loss of customer from this Industry may affect its revenues and profitability.
- The company's commercial success is largely dependent upon its ability to develop and design innovative products suitable for the requirements of the company's customers. The company's inability to effectively utilize and manage its ability to develop and design innovative products would impact its business, revenue and profitability.
- The company's success depends on the continued services of its Skilled Manpower, Senior Management Personnel & Key Managerial Personnel and any inability to attract or retain such Personnel could adversely affect the company's business and growth prospects.
- The company is exposed to the risk of delays or non-payment by the company's clients and other counter parties, which may also result in cash flow mismatches.
- The company's revenue is mainly concentrated in few key states, which collectively contribute a substantial portion of its total income. Consequently, any unfavorable economic, regulatory, or operational changes in these key regions could significantly affect the company's business performance, revenue streams, and overall financial outcomes.
- The company requires sizeable amounts of working capital for its continued operation and growth. The company's inability to meet its working capital requirements could have a material adverse effect on the company's business, results of operations and financial condition.
- Under-utilization of the company's manufacturing capacities and an inability to effectively utilize its existing manufacturing capacities could have an adverse effect on the company's business, future prospects and future financial performance.
- The company does not have long-term agreements with any of its customers which exposes the company to the risk of fluctuating demand and potentially less predictable revenue streams. This lack of stability in customer relationships may have an adverse effect on the company's business operations. Consequently, it could negatively impact its financial condition and overall results.
- The company has previously entered into related party transactions which, although conducted at arm's length and in compliance with applicable laws, may not always be on terms as favourable as those with unrelated parties, and such transactions may continue in the future.
- There are certain instances of delays in Statutory filing by the company. Any further delays in Statutory filing may attract financial penalties from the respective government authorities and in turn may have a material adverse impact on the company's financial condition and cash flows.
- There are certain discrepancies/errors/delay filings noticed in some of its corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate or any other law could impact the financial position of the Company to that extent.
- The Objects of the Offer for which funds are being raised, are based on the company's management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at its discretion, based on the parameters as mentioned in the chapter titles "Objects of the Offer".
- The company's operations may be adversely impacted by customs duty dues, penalties, or changes in tariff structures.
- The company's Promoters and Senior Managerial Personnel play a vital role in the company's operations, and the company rely significantly on their knowledge and experience hence, their continued association is critical to its business. Any loss of their continued association may disrupt the company's business, impact strategy execution, and adversely affect its financial performance.
- The company has incurred indebtedness which exposes the company to various risks which may have an effect on its business and results of operations.
- If the Company is unable to protect its intellectual property, or if the Company infringes on the intellectual property rights of others, the company's business may be adversely affected.
- Failures to obtain, Renew or Maintain Statutory and Regulatory Approvals that may be required in the ordinary course of business could adversely Affect its Business and Operations.
- After the conversion of the Company into public limited, the company is required to update the name of the company in some of the statutory approvals, certificates, licenses and registrations due to the change of Status of the Company.
- The Company will not receive any proceeds from the Offer for Sale. The company's Promoter Selling Shareholders will receive the proceeds from the Offer for Sale.
- Reliance has been placed on declarations and affidavits furnished by certain of its promoters and Directors for details of their profiles included in this Red Herring Prospectus.
- The company's business is dependent on the efficient functioning of its manufacturing facilities, and any obsolescence, damage, theft, breakdown, or failures to properly repair and maintain the company's machinery may adversely affect its operations, cash flows, financial condition, and results of operations."
- The average cost of acquisition of Equity Shares held by the company's Promoters and selling Shareholder's may be less than the Offer Price.
- Uninterrupted availability of power and fuel is critical for the smooth functioning of its manufacturing operations and overall business activities.
- The company's Promoters and members of the Promoter Group have significant control over the Company and have the ability to direct its business and affairs, their interests may conflict with interests as a shareholder.
- The company's quality assurance and quality control processes may not always detect all defects, non-conformities, or deficiencies in workmanship, which could adversely impact the performance of its display solutions and, in turn, affect the company's reputation, financial condition, growth prospects, and results of operations.
- The company's insurance coverage may not be adequate to protect the company against all potential losses to which the company may be subject, and this may have a material effect on the company's business and financial condition.
- The company's Promoter and Directors may have interests in the company other than reimbursement of expenses incurred and normal remuneration or benefits.
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval. Any delay or denial of approval may restrict business plans; dissenting shareholders are entitled to an exit opportunity which could adversely affect its financial condition.
- The company may not be able to detect or prevent all instances of fraud or misconduct by the company's employees, which could materially and adversely affect its business, reputation, results of operations, financial condition, and cash flows.
- No monitoring agency has been appointed as the Offer size is below Rs. 5,00,000.00 Thousands. Utilization of proceeds will be overseen by the Statutory Auditors and Audit Committee, which may be less effective than independent monitoring.
- The company's future fund requirements, in the form of further issue of capital or securities and/or loans taken by the company, may be prejudicial to the interest of the Shareholders depending upon the terms on which they are eventually raised.
- Both the Company and the Selling Shareholders are required to bear Offer-related expenses in proportion to their respective components of the Offer, which may increase the financial burden on each party. Any escalation in Offer expenses may adversely impact the Company's liquidity as well as the Selling Shareholders' net proceeds.
- The company has not commissioned an industry report for the disclosures made in the chapter titled `Industry Overview' and made disclosures on the basis of publicly available data and such data has not been independently verified by the company. There can be no assurance that such publicly available data is either complete or accurate.
- The Equity Shares may not be listed on BSE Limited, as listing approval is subject to BSE's discretion and various regulatory conditions. Any refusal or delay in listing may result in illiquidity of the investment and potential financial loss to investors.
- The company's ability to pay dividends in the future will depends upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
- The Equity Shares have never been publicly traded, and, after the Offer, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Offer Price, or at all.
The Issue type of Highness Microelectronics Ltd is Book Building - SME.
The minimum application for shares of Highness Microelectronics Ltd is 2400.
The total shares issue of Highness Microelectronics Ltd is 1806000.
Initial public offer of 18,06,000 equity shares of face value of Rs.10/- each of Highness Microelectronics Limited (the "Company" or the "Offeror ") at an offer price of Rs. 120 per equity share (Including a Share Premium of Rs. 110 Per Equity Share) for cash, aggregating to Rs. 21.67 Crore ("Public Offer") comprising of a fresh issue of 16,53,600 equity shares aggregating to Rs. 19.84 Crore (the "Fresh Issue") and an offer for sale of 38,400 equity shares by Gaurav Manjul Kejriwal and 1,14,000 equity shares by Manjul Kumar Kejriwal ("The Promoter Selling Shareholders"),aggregating to 1,52,400 equity shares by the promoter selling shareholders ("Offer For Sale") aggregating to Rs. 1.83 Crore, out of which 91,200 equity shares of face value of Rs. 10/- each at an offer price of Rs. 120 per equity share including a share premium of Rs. 110 per equity share aggregating to Rs. 1.09 Crore will be reserved for subscription by market maker to the offer (the "Market Maker Reservation Portion"). The offer less the market maker reservation portion i.e. Net offer of 17,14,800 equity shares of face value of Rs. 10/- each at an offer price of Rs. 120 per equity share including a share premium of Rs. 110 per equity share aggregating to Rs.20.58 Crore is herein after referred to as the "Net Offer". The offer and the net offer will constitute 34.98% and 33.21%, respectively, of the post offer paid up equity share capital of the company.
Price Band: Rs. 120/- per equity share of face value Rs. 10/- each.
The floor price is 12.0 times the face value of the equity.
Bids can be made for a minimum of 2 lots and in multiples of 1200 equity shares thereafter.