SEBI approves IPO proposals of Neolite ZKW Lightings, Aspri Spirits, SS Retail

Neolite ZKW Lightings, Aspri Spirits, and SS Retail have received green signal from the Securities and Exchange Board of India to go ahead for raising funds via IPO.

All these three companies have filed their IPO draft papers with the capital markets regulator in December 2025.

The SEBI has issued observations on the preliminary papers of Aspri Spirits on May 6, while the observations on Neolite ZKW Lightings, and SS Retail IPO draft papers were issued by the regulator on May 14.

The issuance of observations on the draft papers means the company can file its Red Herring Prospectus with the Registrar of Companies for launching IPO within the next one year.

Automotive lighting products and components maker Neolite ZKW Lightings, which is backed by LG Electronics subsidiary ZKW Group GmbH, has approached capital markets to raise Rs 600 crore via initial share sale.

The IPO is combination of fresh issuance of shares worth Rs 400 crore, and an offer-for-sale of Rs 200 crore worth shares by existing shareholders - Rajesh Jain, Neokraft Global, and ZKW Group GmbH.

The Haryana-based company plans to utilise fresh issue proceeds for setting up a new greenfield manufacturing facility at Kancheepuram, Tamil Nadu, purchase of plant and machinery, SMT lines and testing equipment for electronic expansion and upgradation of existing Unit 1 manufacturing facility. Further, funds will also be used for repayment of debt, and general corporate purposes.

Mumbai-based alco-beverage distribution company Aspri Spirits, founded by Jaikishan Sham Matai, and Arunkumar Venkat Bangalore, proposed to raise Rs 140 crore via fresh shares, while existing shareholders including promoters will be selling up to 50 lakh shares via offer-for-sale, as per the draft papers filed with the SEBI in December.

The company will utilise Rs 105 crore of fresh issue proceeds for repayment of partial debt, and the remainder funds for general corporate purposes.

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SS Retail, the multi-brand retail chain for mobile phones, accessories and other electronic items, proposed to raise up to Rs 500 crore via initial public offering (IPO).

Of which, Rs 300 crore will be raised by the company via issuance of fresh shares, and existing shareholders including promoters will offload shares worth Rs 200 crore via offer-for-sale.

The company intends to spend Rs 12.4 crore of fresh issue proceeds for setting up of new stores, Rs 201.5 crore for incremental working capital requirements, and the remainder funds for general corporate purposes.