Automotive lighting products and components manufacturer Neolite ZKW Lightings has filed a Draft Red Herring Prospectus (DRHP) for a ₹600 crore initial public offering (IPO), which combines a fresh issue of shares to raise ₹400 crore and an offer for sale (OFS) of ₹200 crore.
The company intends to use the net proceeds from the fresh issue of shares to finance the capital expenditure requirements for setting up a new greenfield manufacturing facility at Kancheepuram, Tamil Nadu.
It also intends to purchase plant and machinery, SMT lines and testing equipment for electronic expansion and upgradation of the existing Unit 1 manufacturing facility.
Besides, some parts of the net proceeds will be utilised for the payment of certain outstanding borrowings and for general corporate purposes.
Anand Rathi Advisors Limited and Systematix Corporate Services Limited are the book-running lead managers, while KFin Technologies Limited is the registrar of the issue.
Neolite ZKW Lightings business overview
As per the DRHP, the company manufactures and supplies automotive lighting products and components for OEMs (original equipment manufacturers), across vehicle categories, including PVs (passenger vehicles), CVs (commercial vehicles), 3Ws (three-wheelers), and 2Ws (two-wheelers).
The company also caters to the aftermarket segment for automotive lighting products and components.
The DRHP highlights a CRISIL report, which says Neolite ZKW Lightings is a leading player in the domestic commercial vehicle lighting segment, with a market share of 34.43% in FY25.
“We are amongst the few leading exporters of automotive lighting products and components from India, exporting to over 50 countries across CIS regions, North America and Western Europe. As of October 31, 2025, we supply our products to 38 OEMs in India and 6 OEMs globally through exports,” reads the DRHP.
As per the DRHP, the company earned a profit of ₹15.6 crore in FY23, which rose to ₹19.1 crore in FY24 and to ₹52.8 crore in FY25.
The company’s revenue from operations was ₹405.4 crore in FY23, ₹403 crore in FY24, and ₹512.1 crore in FY25.
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