Kalpataru Projects' Swedish arm LMG lists on Nasdaq Stockholm after ₹600-crore IPO
Last Updated: 25th September 2026 - 12:03 pm
Kalpataru Projects International on Friday announced that its Swedish subsidiary, Linjemontage i Grästorp AB (LMG), has been listed on Nasdaq Stockholm.
LMG's equity shares were admitted for trading on the exchange with effect from September 25, 2026, after an offer for sale by its existing shareholders.
The offering covers up to 16.46 million equity shares priced at SEK 46 apiece, which works out to roughly 32.1% of LMG's total share count. Of this, 14.31 million shares form the base offering, with up to 2.15 million additional shares available under the over-allotment, or green shoe, option.
Kalpataru Power Transmission Sweden AB (KPTS) is selling 13.32 million shares in the base offering and up to 2.15 million more under the green shoe option. Employee and director shareholders are offering 991,950 shares between them.
The additional shares under the green shoe option are meant for use by the issue managers for price stabilisation under Article 5(4) of the EU Market Abuse Regulation (MAR). The option can be exercised within 30 calendar days of the listing.
If the offering is fully subscribed and the green shoe option is exercised in full, KPTS' holding in LMG will come down to 65.93% from 96.12% at present.
KPTS stands to receive gross proceeds of about SEK 711.45 million, subject to customary adjustments, issue expenses and set-offs.
Kalpataru Projects further stated that should the green shoe option go unused or be only partly used, or should the issue managers buy back shares as part of stabilisation measures, the stock exchanges will be informed within 30 calendar days from the first day of trading.
The company received this information from LMG on Friday at around 1:13 am IST.
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