Neolite ZKW Lightings Limited has submitted its Draft Red Herring Prospectus to market regulator SEBI, seeking approval to raise funds through an initial public offering.
The proposed public issue is sized at ₹600 crore and consists of a fresh issue of equity shares along with an offer for sale by existing shareholders. Details of the share structure and selling shareholders are outlined in the DRHP.
As per the filing, the company intends to deploy proceeds from the fresh issue towards establishing a new manufacturing unit in Tamil Nadu, meeting debt-related obligations, and funding general corporate requirements.
The company has proposed to list its equity shares on both the BSE and NSE. The IPO is subject to receipt of statutory approvals and prevailing market conditions.
Neolite ZKW Lightings is engaged in the manufacture and supply of automotive lighting products and systems.
