Highness Microelectronics IPO Day 3: Issue subscribed over 76x, NIIs steal the show. GMP hints 20% listing pop
Highness Microelectronics IPO commenced on March 24, ending March 27, with a price band of ₹114 to ₹120 per share. The IPO is oversubscribed at 76.53x, with strong interest from retail and institutional investors, indicating a robust market response.
The Highness Microelectronics IPO started on Tuesday, March 24 and is set to end on Friday, March 27. Highness Microelectronics IPO price band has been established at ₹114 to ₹120 per equity share, each having a face value of ₹10. Investors are allowed to place bids for a minimum of 1,200 equity shares, with additional shares to be bid in multiples of 1,200.
Highness Microelectronics boasts more than twenty years of expertise and operates in the realms of design, development, integration, assembly, and manufacturing of digital imaging technologies. The company has established robust internal capabilities and emphasizes medical-grade monitors and tailored imaging solutions, serving industries such as defense and aerospace, rail transportation, healthcare, and industrial automation.
Regarding allocations, 5.11 lakh equity shares have been set aside for anchor investors, while qualified institutional buyers are allocated 3.42 lakh shares. Non-institutional investors will receive 2.59 lakh shares, retail investors are allotted 6.02 lakh shares, and 91,200 shares have been designated for the market maker.
Highness Microelectronics IPO GMP today
Highness Microelectronics IPO GMP is ₹25. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Highness Microelectronics shares is indicated as ₹145 apiece, which is 20.83% higher than the IPO price of ₹120.
Given the grey market activities over the past nine sessions, today's IPO GMP is on an upward trend, indicating an anticipated strong listing. Experts have noted that the lowest GMP is ₹4.00, while the highest stands at ₹30.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Highness Microelectronics IPO Subscription Status
Highness Microelectronics IPO subscription status was 76.53x on day 3. The retail portion is subscribed 81.99x, and NII portion has been booked 140.73x, QIBs portion receive 18.24x bids.
The company has received bids for 9,21,06,000 shares against 12,03,600 shares on offer, at 13:39 IST, according to data on BSE.
Highness Microelectronics IPO details
Highness Microelectronics IPO comprises a new issue of 16.53 lakh shares along with an offer for sale of 1.52 lakh shares. Each share has a face value of ₹10, and the price range is established between ₹114 and ₹120 per share, with a minimum lot size of 1,200 equity shares.
Prior to the issuance, the company’s share capital is 35.10 lakh shares, which will rise to 51.63 lakh shares after the issue, resulting in a market capitalisation of ₹61.96 crore upon listing.
The company intends to allocate the net proceeds from the issue for establishing an assembly line as part of its capital expenditures, fulfilling working capital needs, repaying or prepaying loans, and for general corporate purposes.
Fintellectual Corporate Advisors Private Limited is serving as the lead manager for the offering, whereas Skyline Financial Services Private Limited has been chosen to act as the registrar.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
About the Author
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
Wait for it…
Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.