New Delhi, Dec 29 (PTI) Automotive lighting products maker Neolite ZKW Lightings on Monday filed preliminary papers with capital markets regulator Sebi to raise Rs 600 crore through an initial public offering (IPO) for expansion and debt reduction.
The proposed IPO will be a combination of a fresh issue of shares aggregating up to Rs 400 crore along with an offer for sale of shares valued Rs 200 crore by promoters and a shareholder, according to the draft red herring prospectus (DRHP).
Under the OFS, promoters -- Rajesh Jain and Neokraft Global -- will offload shares to the tune of Rs 114 crore and Rs 40 crore, respectively. Besides, existing shareholder ZKW Group GmbH will divest shares worth Rs 46 crore.
The company will use proceeds from the fresh issue for setting up a new manufacturing facility at Kancheepuram, Tamil Nadu; purchasing plant and machinery, electronic expansion at existing manufacturing facilities; payment of debt and general corporate purposes.
As of March 2025, Neolite ZKW had a total borrowing of Rs 97 crore, the draft papers showed.
The company may also consider a pre-IPO placement of shares aggregating up to Rs 75 crore.
Founded in 1992, Neolite ZKW is a manufacturer and global supplier of automotive lighting products catering to OEMs across passenger vehicles, commercial vehicles, off-road vehicles, two-wheelers and three-wheelers. The company has a strategic alliance with ZKW group GMBH (which became a subsidiary of LG Electronics in 2018).
It is one of the leading players in the global automotive lighting industry, known for its expertise in premium lighting solutions and for supplying high-tech LED and laser headlamps to global OEMs such as BMW and Audi.
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 Automobiles India, JSW MG Motor India, Daimler India Commercial Vehicles, VE Commercial Vehicles, Isuzu Motors India, Piaggio Vehicles, and JCB India and Escorts Kubota.
It exports products to over 50 countries across CIS regions, North America, and Western Europe.
Neolite ZKW operates three manufacturing facilities at Bahadurgarh (Haryana) and Pune (Maharashtra).
As of October 31, 2025, the company had an order book of Rs 172 crore comprising project-based assignments and tooling in the automotive lighting segment, which are expected to be executed by financial year 2026-27.
In fiscal 2025, the company's revenue from operations stood at Rs 512 crore, with exports contributing Rs 237 crore and domestic revenues at Rs 275 crore. It generated profit after tax (PAT) of Rs 53 crore.
Anand Rathi Advisors and Systematix Corporate Services are the book-running lead managers to the issue.