Neolite ZKW Lightings Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering.
According to the DRHP, the proposed IPO comprises a combination of a fresh issue of equity shares and an offer for sale by existing shareholders, aggregating to a total issue size of ₹600 crore. The equity shares offered have a face value as disclosed in the draft prospectus.
The company proposes to utilise the net proceeds from the fresh issue towards capital expenditure for setting up a new manufacturing facility in Tamil Nadu, repayment or prepayment of certain borrowings, and general corporate purposes.
The equity shares are proposed to be listed on the BSE Limited and the National Stock Exchange of India Limited. The DRHP has been filed subject to regulatory approvals and market conditions.
Neolite ZKW Lightings operates in the automotive lighting segment, supplying lighting systems and solutions to original equipment manufacturers.
