Sebi approves IPO plans of Neolite Lightings, Aspri Spirits and SS Retail

Synopsis

Sebi approved IPO plans of Neolite ZKW Lightings, Aspri Spirits and SS Retail, enabling them to raise funds through fresh issues and OFS routes. The companies operate in automotive lighting, premium alcohol distribution and consumer electronics retail, targeting expansion, manufacturing growth and debt repayment.

Capital markets regulator Sebi has approved the proposed public offerings of automotive lighting maker Neolite ZKW Lightings, alcohol importer and distributor Aspri Spirits and electronics retail chain SS Retail, paving the way for the companies to tap the primary market.

Among the three, Neolite ZKW Lightings plans to raise Rs 600 crore through a combination of fresh issue and offer-for-sale. The IPO comprises a fresh issue of shares worth Rs 400 crore and an OFS of Rs 200 crore by existing shareholders including Rajesh Jain, Neokraft Global and ZKW Group GmbH.

The company intends to utilise proceeds from the fresh issue towards setting up a greenfield manufacturing facility in Kancheepuram, Tamil Nadu, expanding existing manufacturing operations and repaying borrowings.

Founded in 1992, Neolite ZKW Lightings manufactures automotive lighting products and components for original equipment manufacturers across passenger vehicles, commercial vehicles, electric vehicles, two-wheelers and off-road vehicles.

According to a Crisil report cited by the company, it held a 34.43% market share in India’s commercial vehicle lighting segment in FY25.

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The company has a long-standing strategic alliance with Austria-based ZKW Group, which became a subsidiary of LG Electronics in 2018. ZKW is known globally for premium automotive lighting systems including LED and laser headlamps supplied to global carmakers such as BMW and Audi.

As of October 2025, Neolite ZKW Lightings served more than 40 OEM customers and offered over 830 product SKUs, including EV-focused lighting solutions. Its customer base includes Tata Motors, JSW MG Motor India, Daimler India Commercial Vehicles, Piaggio Vehicles and JCB India among others.

Meanwhile, Aspri Spirits also received Sebi approval for its public issue. The proposed IPO consists of a fresh issue aggregating up to Rs 140 crore along with an offer-for-sale of up to 50 lakh equity shares by existing shareholders.

The company operates in the premium and luxury alcoholic beverages segment and is known for importing, marketing and distributing international wine and spirit brands in India.

Motilal Oswal is acting as the book-running lead manager for the issue, while Bigshare Services is the registrar.

SS Retail, another company that secured regulatory clearance, plans to raise Rs 500 crore through its IPO. The issue comprises a fresh issue of shares worth Rs 300 crore and an OFS aggregating up to Rs 200 crore.

SS Retail operates a multi-brand retail chain focused on mobile phones, accessories and consumer electronics. The company has operations across Maharashtra, Karnataka, Madhya Pradesh and Goa, serving customers across metro, tier-I, tier-II and smaller cities.

The retailer sells products across multiple electronics categories and has positioned itself as a regional organised retail player in the fast-growing consumer electronics and smartphone market.

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