Bengaluru | 25 September 2026: Kalpataru Projects International Limited (KPIL) has announced the successful listing of its step‑down subsidiary Linjemontage i Grästorp AB (LMG), Sweden on Nasdaq Stockholm under the ticker LMGAB.
- IPO priced at SEK 46 per equity share, valuing LMG at SEK 2,357 million.
- KPIL, through Kalpataru Power Transmission Sweden AB (KPTS), retains a 65.9% stake post‑listing.
- KPTS to receive gross consideration of SEK ~711.5 million (including over‑allotment option), subject to adjustments.
Manish Mohnot, MD & CEO, KPIL: “The listing of LMG on Nasdaq Stockholm represents a major milestone in KPIL’s global growth strategy and is a testament to our ability to scale international businesses. This IPO validates LMG’s strong position as a leading EPC provider in Sweden’s power infrastructure segment and marks a significant step in unlocking value for KPIL’s shareholders.”
Strategic Significance
- KPIL becomes the first Indian company to list a foreign subsidiary on Nasdaq Stockholm.
- Listing expected to accelerate LMG’s growth in the Nordic EPC power infrastructure market.
- Strengthens KPIL’s international footprint across 75+ countries.
About Kalpataru Projects International Limited (KPIL)
- Diversified Engineering, Procurement & Construction (EPC) company.
- FY2026 consolidated revenue: ₹27,143 crore (US$ 2.9 billion).
- Net profit: ₹1,031 crore (US$ 109 million).
- Order book: ₹65,457 crore (US$ 6.9 billion).
- Operations span power transmission & distribution, buildings & factories, water supply & treatment, railways, oil & gas infrastructure, urban mobility, highways, and airports.
- Projects executed in 25+ countries, footprint in 75+ countries across Asia, Africa, Middle East, Americas, and Europe.
🌐 Website: www.kalpataruprojects.com
About Linjemontage i Grästorp AB (LMG)
- Founded in 1993, headquartered in Sweden.
- Pure‑play EPC provider in power infrastructure across Sweden and Norway.
- Focuses on substations and transmission/distribution networks up to 400 kV.
- Customers include national transmission operators, regional distribution companies, industrial clients, and data centres.
- FY2026 net sales: SEK 3,225 million.
- Adjusted EBITA: SEK 245 million.
- Order book (as of June 2026): SEK 4,349 million.
🌐 Website: www.linjemontage.se
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