Neolite ZKW, Aspri Spirits, SS Retail Get SEBI Nod For IPO Launch

Market regulator, the Securities and Exchange Board of India (SEBI), has approved the initial public offering (IPO) plans of three companies, Neolite ZKW Lightings, Aspri Spirits and SS Retail, clearing the way for them to launch share sales in the primary market.

The approvals come as IPO activity remains steady in the mid-cap and emerging business segments, with companies continuing to tap equity markets for expansion, debt reduction and shareholder exits.

Neolite ZKW Lightings Plans ₹600 Crore Issue

Neolite ZKW Lightings will raise ₹600 crore through its IPO, which combines a fresh issue and an offer-for-sale. The structure of the Neolite ZKW Lightings IPO includes:

• Fresh issue worth ₹400 crore

• Offer-for-sale (OFS) of ₹200 crore by existing shareholders, including Rajesh Jain, Neokraft Global and ZKW Group GmbH

The company plans to deploy proceeds from the fresh issue toward multiple expansion-linked objectives. These include setting up a greenfield manufacturing facility in Kancheepuram, Tamil Nadu, scaling up existing production capacity and repayment of borrowings.

Founded in 1992, Neolite ZKW Lightings operates in the automotive lighting systems and components for OEMs across passenger vehicles, commercial vehicles, electric vehicles, two-wheelers and off-road vehicles.

A Crisil report cited by the company shows it held a 34.43% market share in India’s commercial vehicle lighting segment in FY25. The company works closely with Austria-based ZKW Group, which became part of LG Electronics in 2018. ZKW supplies premium lighting systems such as LED and laser headlamps to global carmakers, including BMW and Audi.

As of October 2025, Neolite ZKW Lightings catered to more than 40 original equipment manufacturer (OEM) clients and offered over 830 product stock keeping units (SKUs). Its customer list includes Tata Motors, JSW MG Motor India, Daimler India Commercial Vehicles, Piaggio Vehicles and JCB India.

Aspri Spirits IPO Consists Of Fresh Issue And OFS

Aspri Spirits IPO consists of:

• Fresh issue aggregating up to ₹140 crore

• An OFS of up to 50 lakh equity shares by existing shareholders

The company operates in the premium and luxury alcoholic beverages segment. It imports, markets and distributes international wine and spirit brands in India. Motilal Oswal is the book-running lead manager for the issue, while Bigshare Services is the registrar.

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SS Retail To Raise ₹500 Crore

SS Retail has received regulatory clearance for an IPO worth ₹500 crore. The SS Retail IPO includes:

• Fresh issue of ₹300 crore

• An OFS of up to ₹200 crore

SS Retail runs a multi-brand retail chain focused on mobile phones, accessories and consumer electronics. It operates across Maharashtra, Karnataka, Madhya Pradesh and Goa, serving customers in metro cities as well as tier-I, tier-II and smaller towns.

The company sells products across multiple electronics categories and operates in the organised retail space within the fast-growing smartphone and consumer electronics market.

Sources:

The Economic Times

Moneycontrol