Kalpataru Projects’ Swedish arm Linjemontage lists on Nasdaq Stockholm.

IPO values Linjemontage at SEK 2,357 million, while KPIL retains a 65.9% majority stake.

Kalpataru Projects International Ltd (KPIL) has announced the listing of its Swedish step-down subsidiary, Linjemontage i Grästorp AB, on Nasdaq Stockholm under the ticker LMGAB. The listing marks a significant step in KPIL’s expansion across the Nordic power infrastructure market. The initial public offering was priced at SEK 46 per equity share, giving Linjemontage an overall market valuation of approximately SEK 2,357 million. Following the listing, KPIL will retain an approximately 65.9% majority stake in the Swedish company through its wholly owned subsidiary, Kalpataru Power Transmission Sweden AB (KPTS). The transaction is expected to provide KPTS with gross proceeds of around SEK 711.5 million, including the green-shoe option, subject to customary adjustments, expenses and set-offs. KPIL said the IPO reflects Linjemontage’s position in Sweden’s power infrastructure EPC sector and provides an opportunity to unlock value while supporting its international growth strategy.