The SME IPO of Highness Microelectronics saw strong traction on its second day, with overall subscription exceeding eight times. Retail investors showed the highest interest, bidding aggressively, while non-institutional investors also contributed significantly to demand.
Institutional participation remained relatively subdued. The ₹21.67 crore issue, priced between ₹114 and ₹120 per share, will close on March 27. Market signals remain positive, with a grey market premium suggesting potential listing gains.
Proceeds from the issue will be used for capital expenditure, working capital requirements, and partial debt repayment. The company is set to list on the BSE SME platform.