New Delhi, Dec. 30 -- Automotive lighting products and components manufacturer Neolite ZKW Lightings has filed a Draft Red Herring Prospectus (DRHP) for a Rs.600 crore initial public offering (IPO), which combines a fresh issue of shares to raise Rs.400 crore and an offer for sale (OFS) of Rs.200 crore.

The company intends to use the net proceeds from the fresh issue of shares to finance the capital expenditure requirements for setting up a new greenfield manufacturing facility at Kancheepuram, Tamil Nadu.

It also intends to purchase plant and machinery, SMT lines and testing equipment for electronic expansion and upgradation of the existing Unit 1 manufacturing facility.

Besides, some parts of the net proceeds will be utilised for the...