Neolite ZKW Lightings Files DRHP for Rs 6,000 Mn IPO

30 Dec 2025 CW Team

The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 4,000 million and an offer for sale of equity shares aggregating up to Rs 2,000 million by existing shareholders — Rajesh Jain (Rs 1,140 million), Neokraft Global Private Limited (Rs 400 million) and ZKW Group GmbH (Rs 460 million). The company may also consider a pre-IPO placement of specified securities aggregating up to Rs 750 million, subject to regulatory approvals.

Incorporated in 1992, Neolite ZKW Lightings is among the leading players in the domestic commercial vehicle lighting segment, with a market share of 34.43 per cent, as per CRISIL. The company manufactures and supplies automotive lighting products to OEMs across passenger vehicles, commercial vehicles, electric vehicles, off-road vehicles, two-wheelers and three-wheelers, as well as the aftermarket segment.

The net proceeds from the fresh issue are proposed to be utilised towards setting up a new greenfield manufacturing facility at Kancheepuram, Tamil Nadu, involving an investment of Rs 1,525.10 million; purchase of plant and machinery and expansion of existing manufacturing facilities amounting to Rs 790.79 million; and repayment or prepayment of borrowings aggregating to Rs 650 million. The balance, if any, will be used for general corporate purposes.

Neolite ZKW has a strategic alliance with ZKW Group GmbH, a subsidiary of LG Electronics, which has strengthened its technological capabilities and global footprint. The company operates three manufacturing facilities located at Bahadurgarh, Haryana (Units 1 and 2), and Pune, Maharashtra (Unit 3), and exports to over 50 countries across Europe, North America and CIS regions.

As of October 31, 2025, the company served over 40 OEMs and offered a portfolio of more than 830 SKUs, including LED and EV-focused lighting solutions. Its customer base includes Tata Motors, Stellantis India, JSW MG Motor India, Daimler India Commercial Vehicles, VE Commercial Vehicles, Isuzu Motors India, Piaggio Vehicles, JCB India, Escorts Kubota and others.

For the quarter ended June 30, 2025, revenue from operations stood at Rs 1,248.55 million, with exports contributing 55.08 per cent and domestic sales accounting for 44.92 per cent. For FY25, revenue increased to Rs 5,120.75 million, with exports contributing Rs 2,373.51 million. Profit after tax rose to Rs 528.24 million, while EBITDA stood at Rs 964.60 million, translating into an EBITDA margin of 18.84 per cent.

As of October 31, 2025, the company’s order book stood at Rs 1,718.76 million. Anand Rathi Advisors Limited and Systematix Corporate Services Limited are acting as the book running lead managers to the issue.

Neolite ZKW Lightings Limited, an established manufacturer and global supplier of automotive lighting products for OEMs, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) aggregating up to Rs 6,000 million. The proposed IPO comprises a fresh issue of equity shares aggregating up to Rs 4,000 million and an offer for sale of equity shares aggregating up to Rs 2,000 million by existing shareholders — Rajesh Jain (Rs 1,140 million), Neokraft Global Private Limited (Rs 400 million) and ZKW Group GmbH (Rs 460 million). The company may also consider a pre-IPO placement of specified securities aggregating up to Rs 750 million, subject to regulatory approvals. Incorporated in 1992, Neolite ZKW Lightings is among the leading players in the domestic commercial vehicle lighting segment, with a market share of 34.43 per cent, as per CRISIL. The company manufactures and supplies automotive lighting products to OEMs across passenger vehicles, commercial vehicles, electric vehicles, off-road vehicles, two-wheelers and three-wheelers, as well as the aftermarket segment. The net proceeds from the fresh issue are proposed to be utilised towards setting up a new greenfield manufacturing facility at Kancheepuram, Tamil Nadu, involving an investment of Rs 1,525.10 million; purchase of plant and machinery and expansion of existing manufacturing facilities amounting to Rs 790.79 million; and repayment or prepayment of borrowings aggregating to Rs 650 million. The balance, if any, will be used for general corporate purposes. Neolite ZKW has a strategic alliance with ZKW Group GmbH, a subsidiary of LG Electronics, which has strengthened its technological capabilities and global footprint. The company operates three manufacturing facilities located at Bahadurgarh, Haryana (Units 1 and 2), and Pune, Maharashtra (Unit 3), and exports to over 50 countries across Europe, North America and CIS regions. As of October 31, 2025, the company served over 40 OEMs and offered a portfolio of more than 830 SKUs, including LED and EV-focused lighting solutions. Its customer base includes Tata Motors, Stellantis India, JSW MG Motor India, Daimler India Commercial Vehicles, VE Commercial Vehicles, Isuzu Motors India, Piaggio Vehicles, JCB India, Escorts Kubota and others. For the quarter ended June 30, 2025, revenue from operations stood at Rs 1,248.55 million, with exports contributing 55.08 per cent and domestic sales accounting for 44.92 per cent. For FY25, revenue increased to Rs 5,120.75 million, with exports contributing Rs 2,373.51 million. Profit after tax rose to Rs 528.24 million, while EBITDA stood at Rs 964.60 million, translating into an EBITDA margin of 18.84 per cent. As of October 31, 2025, the company’s order book stood at Rs 1,718.76 million. Anand Rathi Advisors Limited and Systematix Corporate Services Limited are acting as the book running lead managers to the issue.

Infrastructure Urban

04 May 2026

Jyoti Structures FY26 profit rises 56.5%

Jyoti Structures (JSL) recently reported strong financial results for the quarter and year ended 31 March 2026, driven by disciplined execution, cost management and steady progress across its order book.For Q4 FY2025-26, total income rose 44.2 per cent to Rs 2.41 billion from Rs 1.67 billion in Q4 FY2024-25. EBITDA increased 58.6 per cent to Rs 237 million, while EBITDA margin improved by 89 basis points to 9.84 per cent. Profit before tax grew 53.3 per cent to Rs 188.5 million, and net profit rose 51.9 per cent to Rs 181.4 million.For FY2025-26, total income grew 53.1 per cent to Rs 7.72 bill..

Infrastructure Energy

04 May 2026

Cat BEPU to Power Doppstadt Separator at IFAT 2026

Caterpillar’s Cat Battery Electric Power Unit (BEPU) has been selected by Doppstadt to power its SWS 6 Spiral Shaft Separator, which will be showcased for the first time at IFAT 2026 in Munich, Germany, from 4–7 May.The compact plug-and-play BEPU is designed to replace a diesel engine within the same space, using the same mounting locations and relative machine position. It integrates the battery, motor, inverter, onboard charging, cooling and controls, enabling OEMs to electrify existing chassis platforms without extensive redesign.Caterpillar and Cat dealer Zeppelin Power Systems have be..

Infrastructure Urban

04 May 2026

VECV sales rise 6.9% in April 2026

VE Commercial Vehicles, a joint venture between Volvo Group and Eicher Motors, recorded sales of 7,318 units in April 2026, compared to 6,846 units in April 2025, registering 6.9 per cent growth. The total included 7,159 units under the Eicher brand and 159 units under the Volvo brand.Eicher branded trucks and buses reported sales of 7,159 units during the month, up 6.6 per cent from 6,717 units in April 2025. In the domestic commercial vehicle market, Eicher sales rose 8.6 per cent to 6,797 units from 6,257 units a year earlier.Exports declined 21.3 per cent, with VECV recording 362 units in ..