KPIL Subsidiary Linjemontage Successfully Lists Equity Shares on Nasdaq Stockholm
New Delhi, September 26, 2026: Engineering and construction major Kalpataru Projects International Limited (KPIL) announced today the successful debut listing of its Sweden-based step-down subsidiary, Linjemontage i Grästorp AB (LMG), on the Nasdaq Stockholm exchange under the ticker symbol LMGAB. With this transaction, KPIL becomes the first Indian company to list its foreign subsidiary on Nasdaq Stockholm, a move expected to drive LMG’s expansion across the Nordic engineering, procurement, and construction (EPC) power infrastructure market.
The Initial Public Offering was priced at SEK 46 per equity share, establishing a total market valuation for LMG of SEK 2,357 million (approximately Rs 2,276 crore). Post-listing, KPIL will retain an estimated 65.9 percent majority stake in LMG through its wholly owned step-down subsidiary, Kalpataru Power Transmission Sweden AB (KPTS). Following the transaction, KPTS is set to receive a gross consideration of approximately SEK 711.5 million (around Rs 687 crore), which includes the exercise of the over-allotment and green shoe options, subject to customary adjustments, issue expenses, and set-offs.
Commenting on the milestone, Manish Mohnot, MD & CEO of KPIL, said, “The listing of LMG on Nasdaq Stockholm represents a major milestone in KPIL’s global growth strategy and is a true testament to our ability to scale international businesses. This successful IPO validates LMG’s strong position as one of the leading EPC provider in the power infrastructure segment in Sweden and marks a significant step in unlocking value for KPIL’s shareholders. As they transition into an independent publicly listed entity, we look forward to supporting LMG’s continued journey. I would like to congratulate the LMG’s management team on this stellar achievement.”
