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

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.

 

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.  

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