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.

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

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.

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..

Products

07 Jul 2026

EUROBOND Expands NABL Accreditation to 51 Testing Parameters

EUROBOND, the flagship brand of Euro Panel Products, has expanded the National Accreditation Board for Testing and Calibration Laboratories (NABL) accreditation of its in-house laboratory from 16 to 51 mechanical and chemical testing parameters, making it the only Indian aluminium composite panel (ACP) manufacturer with accreditation covering such an extensive testing scope.The expanded accreditation enables the company to independently test coils, coatings, cores, aluminium composite panels (ACP) and metal composite panels (MCP) in accordance with international standards, including IS, ASTM, ..