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 tot​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 tot ​Latest News [ SOBAN NEWS: International and National ]
