Kalpataru Projects International (KPIL) announced that its step-down subsidiary Linjemontage i Grästorp AB (LMG), Sweden has successfully been listed on Nasdaq Stockholm (Sweden) under the ticker LMGAB.

The IPO was priced at SEK 46 per equity share, equivalent to a valuation of SEK 2,357 million (representing the total market value of all shares of LMG). KPIL through Kalpataru Power Transmission Sweden AB (KPTS), a wholly owned subsidiary of KPIL, retains an approximately 65.9 percent stake in LMG post-listing. KPTS shall receive a gross consideration of SEK ~711.5 Million (including the Over-allotment Option / Green shoe Option), subject to issue expenses, customary adjustments and set-offs.