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05 Mar, 2026
Neolite ZKW Lightings IPO
The DRHP was filed with SEBI by Neolite ZKW Lightings Ltd. on December 29, 2025. The Neolite ZKW Lightings IPO is a 100% book-built issue with a total size of up to ₹600 crore, consisting of a fresh issue of shares worth ₹400 crore and an offer for sale (OFS) of shares worth ₹200 crore.
The dates and the price band are yet to be announced; the shares are proposed to be listed on both the BSE and the NSE. The Book Running Lead Managers (BRLMs) for the Neolite ZKW Lightings IPO are Anand Rathi Advisors Ltd. and Systematix Corporate Services Ltd. The registrar for this Neolite IPO issue is KFin Technologies Ltd.
Company Background
Neolite ZKW Lightings Ltd. was incorporated in October 1992 as Praplasin Industries Pvt. Ltd. The company has decades of history in the automobile industry in India. Over 30 years, it has undergone various name changes, including ‘Neolite Industries’ in 2001 and finally Neolite ZKW Lightings Ltd. in December 2025, after it was converted into a public company.
Neolite ZKW Lightings Ltd. is headquartered in New Delhi and has evolved from being a private entity to a major force in the automotive lighting industry. One key step in its development was the technical and commercial collaboration with the Austrian ZKW Group, which held a joint venture interest in the company.
Operations & Product Range
Neolite ZKW Lightings Ltd. is a specialized car lighting system manufacturer in India. Its main business area is centered on the design, development, and manufacture of car lighting solutions. The company’s key solutions are:
- • Manufacturing of headlamps, tail lamps, and auxiliary lamps for original equipment manufacturers (OEMs).
- • Continuous business and technical partnership with ZKW Group GmbH to benefit from global design and development strengths.
- • Serving the lead automotive OEMs and tier-1 suppliers in the Indian market.
- • Addressing global requirements through its international partnerships.
Facilities & Capacity
The operational hub of Neolite ZKW Lightings Ltd. is situated in Bahadurgarh, Haryana, which houses its corporate office and production facilities. The company is also expanding with a "Proposed Project" in Tamil Nadu, which has received environmental approvals valid until 2030.
Current infrastructure includes an OEM warehouse in Bahadurgarh to handle supply chain and distribution. The South India expansion aims to move closer to automotive clusters, improving operational capacity and service delivery to automobile manufacturers.
Brands & Market Presence
Neolite ZKW Lightings Ltd. operates under the brand name Neolite, which has been in the industry for over 30 years. The collaboration with ZKW adds advanced lighting technology expertise.
The main business area remains domestic, aiming to reach every city in India, though the company is exposed to international trade trends due to its export-oriented operations. Neolite ZKW Lightings Ltd. holds multiple quality and environmental certifications to support global OEMs.
Revenue Streams & Business Model
The revenue model of Neolite ZKW Lightings Ltd. is based on the sale of automotive lighting components to large-scale manufacturers. The main sources of revenue are:
- • OEM Sales: Direct sales of lighting solutions to car manufacturers.
- • Operating Income: Earnings from manufacturing and after-market services.
- • Export Incentives: Recognition of export incentive receivables as part of financial assets.
Management & Shareholding
Promoters & Shareholding
The promoters of Neolite ZKW Lightings Ltd. are Rajesh Jain, Vaishali Jain, and Pramod Plastic Industries Private Limited. Before the IPO, promoters held the majority of equity, with Rajesh Jain alone holding over 3.96 crore shares. Other significant shareholders include ZKW Group GmbH and Neokraft Global Private Limited. Post-IPO, shareholding will be distributed among the public, employees, and existing promoters.
Board & Key Management
Neolite ZKW Lightings Ltd. is led by Promoter and Director Rajesh Jain. Vaishali Jain also serves as a promoter. Brajesh Kumar Tiwary is the Company Secretary and Compliance Officer, managing regulatory and corporate secretarial functions.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Neolite ZKW Lightings IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Neolite ZKW Lightings IPO Details
| Detail | Description |
|---|---|
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per Equity Share |
| Issue Price Band | [.] |
| Lot Size | [.] |
| Sale Type | Fresh Issue and Offer for Sale (OFS) |
| Total Issue Size | [.] shares (agg. up to ₹600 Cr) |
| Fresh Issue(Ex Market Maker) | [.] shares (agg. up to ₹400 Cr) |
| Offer for Sale | [.] shares of ₹10 (agg. up to ₹200 Cr) |
| Issue Type | 100% Book Built Offer |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 5,89,87,400 shares |
Neolite ZKW Lightings IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | [.] |
| IPO Close Date | [.] |
| Tentative Allotment | [.] |
| Initiation of Refunds | [.] |
| Credit of Shares to Demat | [.] |
| Tentative Listing Date | [.] |
| Cut-off time for UPI mandate confirmation | 5:00 PM on the Bid/Offer Closing Date |
Neolite ZKW Lightings IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 Lot | [.] | ₹14,000 – ₹15,000 |
| Individual investors (Retail) (Max) | Up to 14 Lots | [.] | Up to ₹2,00,000 |
| S-HNI (Min) | Over 14 Lots | [.] | Over ₹2,00,000 |
| S-HNI (Max) | Up to 70 Lots | [.] | Up to ₹10,00,000 |
| B-HNI (Min) | Over 70 Lots | [.] | Over ₹10,00,000 |
Neolite ZKW Lightings IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 69.04% |
| Promoter Holding Post Issue | [.] |
Competitive Strength:
- • Industry Experience of over 30 years in the automotive lighting industry, from a small private company to a public-ready manufacturer.
- • A cooperation agreement with ZKW Group GmbH provides access to modern design and development expertise.
- • Geographic expansion, with the new facility in Tamil Nadu, will allow the company to serve the South Indian automotive cluster.
Neolite ZKW Lightings IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Q1 FY 2025-26* | 200.70 | 172.96 | 17.89 | 132.22 | 131.04 | 73.25 | ||||||||||||||||||||||||||||||||||
| FY 2024-25 | 206.59 | 676.71 | 70.62 | 113.88 | 112.70 | 75.14 | ||||||||||||||||||||||||||||||||||
| FY 2023-24 | 184.81 | 598.63 | 44.91 | 94.81 | 93.63 | 68.27 | ||||||||||||||||||||||||||||||||||
| FY 2022-23 | 180.12 | 501.99 | 31.29 | 75.49 | 74.31 | 92.65 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 33.90% |
| ROCE | 31.34% |
| Debt/Equity | 0.55 |
| PAT Margin | 10.34% |
| EBITDA Margin | 17.17% |
| Price to Book Value | [.] |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | ₹8.96 (Basic) / ₹7.79 (Diluted) | [.] |
| P/E (x) | [.] | [.] |
IPO Objectives
The company plans to use the fresh issue proceeds of the Neolite ZKW Lightings IPO for growth-oriented goals:
- • Funding the proposed project, including investment in the new manufacturing facility in Tamil Nadu.
- • Capital expenditure to maintain competitiveness.
- • General corporate purposes.
Conclusion
The Neolite ZKW Lightings IPO marks the entry of an experienced player in the automotive components sector into the stock market. With strong brand heritage, technological collaboration with ZKW, and a clear South India expansion strategy, the company is positioned to grow its presence. Despite challenges in the global automobile sector, going public demonstrates its readiness for scale.
IPO DRHP Status
| # | Description | Date | File |
|---|---|---|---|
| 1 | Filed with SEBI/Exchange | 29-12-2025 | - |
| 2 | SEBI/Exchange approval received | - | - |
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Read More IPO ReviewsFrequently Asked Questions (FAQs)
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What is the total size of the Neolite ZKW Lightings IPO?
The total offer size is up to ₹600 crore. This consists of a fresh issue of up to ₹400 crore and an offer for sale (OFS) of up to ₹200 crore by existing shareholders.
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Who are the promoters of Neolite ZKW Lightings Ltd.?
The promoters are Rajesh Jain, Vaishali Jain and Pramod Plastic Industries Private Limited.
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What will the company do with the Neolite ZKW Lightings IPO proceeds?
The Neolite ZKW Lighting Ltd. plans to use the proceeds of the fresh issue mainly for its "Proposed Project" (a new facility in Tamil Nadu).
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When was Neolite ZKW Lightings Ltd. incorporated?
The company was originally incorporated under the name Praplasin Industries Private Ltd. on October 20, 1992.
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Does Neolite ZKW Lightings Ltd. have any international partnerships?
Yes, Neolite ZKW Lightings Ltd. has a Cooperation Agreement with ZKW Group GmbH (Austria) for commercial and technical cooperation in the design and development of lighting systems.
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Where will the shares of the Neolite ZKW Lightings IPO be listed?
The shares are proposed to be listed on both the BSE and the NSE.
