Neolite ZKW Lightings Limited has filed draft IPO papers with the Securities and Exchange Board of India.
The proposed initial public offering is expected to raise ₹600 crore through a combination of a fresh issue of equity shares and an offer for sale by existing shareholders, as detailed in the DRHP. The company plans to use the net proceeds from the fresh issue for setting up a new manufacturing facility in Tamil Nadu, repayment of certain borrowings, and for general corporate purposes.
The equity shares are proposed to be listed on both the BSE and NSE, subject to regulatory approvals. Neolite ZKW Lightings is engaged in automotive lighting manufacturing and supplies products to original equipment manufacturers.
