Kalpataru Projects International: Linjemontage Lists on Nasdaq Stockholm After IPO
Kalpataru Projects International Limited (KPIL) has announced that Linjemontage i Grästorp AB (LMG), its first-level step-down material subsidiary, has been admitted for trading on Nasdaq Stockholm from September 25, 2026.
The listing follows an offer for sale by existing shareholders, with shares offered at SEK 46 per share.
KPIL disclosed the development to the Indian stock exchanges on September 25, 2026.
LMG Lists on Nasdaq Stockholm
The Board of Directors of Linjemontage i Grästorp AB approved the offering on September 24, 2026, followed by the admission of LMG’s equity shares for trading on Nasdaq Stockholm effective September 25, 2026.
The offering comprises up to 16.46 million equity shares, representing approximately 32.1% of LMG’s total shares if the over-allotment option is fully exercised.
Key IPO Details
- Company: Linjemontage i Grästorp AB (LMG)
- Exchange: Nasdaq Stockholm
- Listing date: September 25, 2026
- Offer type: Offer for Sale
- Offer price: SEK 46 per share
- Base offering: 14,311,620 shares
- Maximum offering: 16,458,363 shares
- Maximum stake offered: Approximately 32.1%
The offering does not involve the issue of new shares by LMG. Existing shareholders are selling shares as part of the offering.
Kalpataru Power Transmission Sweden to Sell Stake
Kalpataru Power Transmission Sweden AB (KPTS) is the principal selling shareholder.
Under the base offering, KPTS is selling 13,319,670 shares, with the possibility of selling an additional 2,146,743 shares if the over-allotment/green shoe option is exercised.
Employee and director shareholders are selling another 991,950 shares.
If the offering is fully subscribed and the green shoe option is fully exercised, KPTS’s stake in LMG will fall from 96.12% to 65.93%.
This means KPTS will continue to hold a controlling stake in LMG after the offering.
KPTS Could Receive SEK 711.45 Million
Based on the company’s disclosure, KPTS is expected to receive gross proceeds of approximately SEK 711.45 million, assuming full subscription and full exercise of the over-allotment option.
The proceeds are subject to customary adjustments, issue expenses and set-offs.
The transaction is therefore primarily a secondary share sale, with the proceeds going to the selling shareholders rather than being raised as fresh capital by LMG.
Green Shoe Option and Price Stabilisation
The offering also includes a green shoe/over-allotment option of up to 2,146,743 additional shares.
These shares, provided by KPTS, represent approximately 15% of the total offering and may be used by the issue managers for price stabilisation under the applicable EU Market Abuse Regulation framework.
The stabilisation mechanism can be exercised within 30 calendar days from the listing.
If the green shoe option is not fully utilised, is partially utilised, or shares are bought back by the issue managers as part of stabilisation measures, the exchanges will be informed accordingly within the stipulated period.
What the Listing Means for KPIL
The listing of LMG provides a publicly traded valuation reference for the business while KPIL continues to retain control through KPTS.
Following the proposed maximum stake sale, KPTS would retain approximately 65.93% of LMG, according to the disclosure.
For KPIL investors, important factors to track include LMG’s performance after listing, the market valuation assigned to the subsidiary and the financial impact of KPIL’s continuing ownership.
The listing could also provide greater visibility into the value of KPIL’s holding in the Swedish business.
LMG Listing: Key Numbers
| Particular | Details |
|---|---|
| Offer price | SEK 46/share |
| Base offering | 14.31 million shares |
| Maximum offering | 16.46 million shares |
| Maximum stake offered | ~32.1% |
| Current KPTS stake | 96.12% |
| KPTS stake after full exercise | 65.93% |
| Potential KPTS gross proceeds | ~SEK 711.45 million |
| Green shoe shares | 2.15 million |
| Listing | Nasdaq Stockholm |
| Listing date | September 25, 2026 |
What Investors Should Watch
Following the listing, investors tracking KPIL may focus on:
- LMG’s market valuation on Nasdaq Stockholm
- KPIL/KPTS’s remaining 65.93% stake under the full green-shoe scenario
- LMG’s operating and financial performance
- Potential impact of the listing on KPIL’s consolidated accounts
- Future monetisation or stake-sale decisions, if any
- Performance of LMG’s shares following listing
It is also important to distinguish between the gross proceeds from the secondary sale and funds raised by LMG itself. Since the offering is an offer for sale by existing shareholders, the proceeds disclosed for KPTS are not fresh capital raised by LMG for its business.
Bottom Line
Linjemontage i Grästorp AB has commenced trading on Nasdaq Stockholm on September 25, 2026, following an offer for sale priced at SEK 46 per share.
Up to 16.46 million shares, representing approximately 32.1% of LMG, are being offered, including the potential green shoe option.
If the offering is fully subscribed and the over-allotment option is fully exercised, KPTS’s holding will decline from 96.12% to 65.93%, while KPTS could receive gross proceeds of approximately SEK 711.45 million, subject to adjustments and expenses.
For KPIL shareholders, the key development is that a major subsidiary is now publicly traded, creating a market reference for the value of the business while KPIL’s group continues to retain control.
This article is based on Kalpataru Projects International Limited’s stock-exchange disclosure dated September 25, 2026. It is for informational purposes only and should not be considered investment advice.
