Kalpataru Projects’ Swedish arm LMG lists on Nasdaq Stockholm after Rs 600-crore IPO

Fresh updates from the financial markets indicate that Kalpataru Projects International on Friday announced that its Swedish subsidiary Linjemontage i Grästorp AB (LMG) has been listed on Nasdaq Stockholm.

The firm stated LMG's equity shares were admitted for trading on Nasdaq Stockholm, "effective today, 25th September, 2026", following an offer for sale by its existing shareholders.

The offering comprises up to 16.46 million equity shares at SEK 46 per share, representing around 32.1% of LMG's total shares. It includes 14.31 million shares in the base offering and up to 2.15 million additional shares under the over-allotment or green shoe option.

Kalpataru Power Transmission Sweden AB (KPTS) is offering 13.32 million shares in the base offering, along with up to 2.15 million additional shares under the green shoe option. Employee and director shareholders are offering 991,950 shares.

The firm stated the additional shares under the green shoe option will be used by the offering managers for "price stabilization under Article 5(4) of the EU Market Abuse Regulation (MAR)", and can be exercised within 30 calendar days from the stock-exchange debut.

Following full subscription and assuming full exercise of the green shoe option, KPTS' stake in LMG will slide to 65.93% from the current 96.12%.

KPTS will receive gross proceeds of around SEK 711.45 million, "subject to customary adjustments, offering expenses, and set-offs", the firm stated.

Kalpataru Projects further noted that if the green shoe option is not utilised or is partially utilised, or if shares are purchased back by the offering managers as part of stabilisation measures, the exchanges will be informed within 30 calendar days from the first day of trading.

The firm stated the information was received from LMG on Friday at around 1:13 am IST.