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Neolite ZKW Lightings Files DRHP for Rs 6 Bn IPO
ECONOMY & POLICY

Neolite ZKW Lightings Files DRHP for Rs 6 Bn IPO

Neolite ZKW Lightings, a leading automotive lighting manufacturer and global OEM supplier, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering aggregating up to Rs 6,000 million.

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

The net proceeds from the fresh issue are proposed to be utilised for setting up a new greenfield manufacturing facility at Kancheepuram, Tamil Nadu (Rs 1,525.10 million), expansion of plant and machinery at existing facilities (Rs 790.79 million), and repayment or prepayment of outstanding borrowings amounting to Rs 650 million. Remaining proceeds will be used for general corporate purposes.

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 in Fiscal 2025, as per CRISIL. The company operates three manufacturing facilities located in Bahadurgarh, Haryana, and Pune, Maharashtra, and exports automotive lighting products to over 50 countries.

As of October 31, 2025, the company served more than 40 OEM customers and offered a portfolio of over 830 SKUs across passenger vehicles, commercial vehicles, EVs, two-wheelers, three-wheelers, off-road vehicles and the aftermarket. Its order book stood at Rs 1,718.76 million, expected to be executed by FY27.

The company has reported strong financial growth, with revenue from operations rising to Rs 5,120.75 million in Fiscal 2025 and profit after tax increasing to Rs 528.24 million. Anand Rathi Advisors and Systematix Corporate Services are the book running lead managers to the issue. CW.

Neolite ZKW Lightings, a leading automotive lighting manufacturer and global OEM supplier, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering aggregating up to Rs 6,000 million. The proposed IPO comprises a fresh issue of equity shares worth up to Rs 4,000 million and an offer for sale (OFS) of shares worth up to Rs 2,000 million by existing shareholders, including Rajesh Jain, Neokraft Global Private and ZKW Group GmbH. The company may also consider a pre-IPO placement of up to Rs 750 million, subject to regulatory approvals. The net proceeds from the fresh issue are proposed to be utilised for setting up a new greenfield manufacturing facility at Kancheepuram, Tamil Nadu (Rs 1,525.10 million), expansion of plant and machinery at existing facilities (Rs 790.79 million), and repayment or prepayment of outstanding borrowings amounting to Rs 650 million. Remaining proceeds will be used for general corporate purposes. 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 in Fiscal 2025, as per CRISIL. The company operates three manufacturing facilities located in Bahadurgarh, Haryana, and Pune, Maharashtra, and exports automotive lighting products to over 50 countries. As of October 31, 2025, the company served more than 40 OEM customers and offered a portfolio of over 830 SKUs across passenger vehicles, commercial vehicles, EVs, two-wheelers, three-wheelers, off-road vehicles and the aftermarket. Its order book stood at Rs 1,718.76 million, expected to be executed by FY27. The company has reported strong financial growth, with revenue from operations rising to Rs 5,120.75 million in Fiscal 2025 and profit after tax increasing to Rs 528.24 million. Anand Rathi Advisors and Systematix Corporate Services are the book running lead managers to the issue. CW.

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