Kalpataru Projects International522287IPO releated annoucment

Linjemontage IPO: over-allotment option partly exercised, KPTS stake at 66.45%

Green shoe option for Linjemontage's Nasdaq Stockholm IPO partly exercised for ~18.78 lakh shares.

By ScoutQuest · Sat 24 Oct 2026, 1:39 PM IST · 2 min read

66.45%KPTS shareholding in LMG the exercise

KPTS shareholding in LMG the exercise: 66.45%.

Green shoe option exercised: ~18.78 lakh shares
Unexercised shares returned to KPTS: ~2.69 lakh shares
KPTS stake in LMG: 66.45%, or ~3.4 crore shares

Kalpataru Projects International has updated the stock exchanges on the initial public offering of shares of Linjemontage i Grästorp AB (LMG), a first level step down material subsidiary, on Nasdaq Stockholm in Sweden.

What the update says

The over-allotment (green shoe) option granted in connection with the offering has been partly exercised, for ~18.78 lakh shares.
The part of the option that was not exercised, ~2.69 lakh shares, will be returned to Kalpataru Power Transmission Sweden AB (KPTS), the wholly owned subsidiary of Kalpataru Projects that holds the LMG stake.
Consequently, the shareholding of KPTS in LMG will stand at 66.45%, comprising ~3.4 crore shares.
The stabilisation period after the listing has ended and no further stabilisation measures will be conducted.

What the option was

KPTS granted the option to ABG Sundal Collier AB, the sole global coordinator and stabilisation manager, over up to 2,146,743 additional existing shares held by KPTS, to cover any over-allotment in the offering.
The offering itself was of ~1.43 crore shares, at an offer price of 46 SEK per share, on Nasdaq Stockholm.

In simple terms

An over-allotment or green shoe option lets the sellers make extra existing shares available if demand in the IPO is strong enough to need them. Here the manager used part of that allowance, so more of KPTS's existing LMG shares were sold than the base offering, and the unused allowance comes back to KPTS. Because these are existing shares and not new ones, the exercise changes the seller's residual stake rather than the company's share count.

Stabilisation

After listing, the manager had the option to buy shares in the market to support the price, without any obligation to do so.
It has reported the stabilisation transactions it carried out; these were done at the offer price of 46 SEK per share on Nasdaq Stockholm.
That window is now closed and no further stabilisation transactions will be conducted.

What it means for a Kalpataru Projects shareholder

KPTS continues to hold a clear majority of LMG at 66.45%, so LMG remains a subsidiary within the group.
The update is procedural in nature and sets out the final numbers from the subsidiary's listing process, including the exact residual shareholding of KPTS.

What to watch

LMG is described in the release as a pure-play Swedish EPC provider in power infrastructure, working on substations and transmission and distribution networks in Sweden and Norway. Its order book and project wins are the operating drivers that flow back to the parent through its majority stake.

2,146,743 sharesSize of the over-allotment option granted to ABG

Shares exercised under over-allotment / green shoe option1,877,911 shares

Unexercised option shares returned to KPTS268,832 shares

Size of the over-allotment option granted to ABG 2,146,743 shares: Shares exercised under over-allotment / green shoe option 1,877,911 shares, Unexercised option shares returned to KPTS 268,832 shares.

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