Neolite ZKW Lightings Moves Towards Market Listing With ₹600-Crore Issue

Neolite ZKW Lightings Limited has filed its DRHP with SEBI as part of its plan to launch an initial public offering.

The IPO will include a fresh issue of equity shares and an offer for sale by existing shareholders, with the total issue size aggregating to ₹600 crore.

According to the draft prospectus, funds raised from the fresh issue will be utilised for capital expenditure relating to a proposed manufacturing facility in Tamil Nadu, repayment or prepayment of borrowings, and general corporate purposes.

The company has proposed listing its equity shares on the BSE Limited and the National Stock Exchange of India Limited.

Neolite ZKW Lightings operates in the automotive components space, focusing on lighting solutions for the automotive sector.