Swedish Step-Down Subsidiary Linjemontage Lists on Nasdaq Stockholm; Stake Retained at ~65.9%
KPIL's step-down subsidiary Linjemontage (LMG), Sweden is now listed on Nasdaq Stockholm under ticker LMGAB.
- IPO Price per Share
- SEK 46
- Company Valuation
- SEK 2,357 million
- KPIL Retained Stake
- ~65.9 percent
- Gross Consideration to KPTS
- SEK ~711.5 Million
What happened
Kalpataru Projects International Limited (KPIL) announced that its step-down subsidiary Linjemontage i Grästorp AB (LMG), Sweden, has been successfully listed on Nasdaq Stockholm under the ticker LMGAB. The company states it is the first Indian company to list its foreign subsidiary on Nasdaq Stockholm.
Deal terms
- IPO priced at SEK 46 per equity share
- Implied valuation of all LMG shares: SEK 2,357 million
- KPIL, through wholly owned Kalpataru Power Transmission Sweden AB (KPTS), retains approximately 65.9 percent in LMG post-listing
- KPTS to receive gross consideration of SEK ~711.5 Million, including the over-allotment / green shoe option, subject to issue expenses, customary adjustments and set-offs
About Linjemontage
Founded in 1993, LMG is a pure-play EPC provider in power infrastructure in Sweden and Norway, working on substations and transmission and distribution networks up to 400 kV. Customers include national transmission system operators, regional distribution companies, industrial customers and data centres.
- Net sales for the year ended 31 March 2026: SEK 3,225 million
- Adjusted EBITA: SEK 245 million
- Order book as of 30 June 2026: SEK 4,349 million
KPIL scale for context
- Consolidated revenue FY ended March 31, 2026: ₹ 27,143 crore
- Net profit: ₹ 1,031 crore
- Order book: ₹ 65,457 crore
How investors may read it
LMG remains a majority-held subsidiary, so it continues within the group, while the listing brings in cash proceeds to KPIL's Swedish arm and sets a public market value for the business. Management described it as a step in unlocking value for shareholders and supporting LMG's growth in the Nordic EPC power infrastructure market. The consideration is stated as gross and is subject to expenses and adjustments.
Also from Kalpataru Projects International
Kalpataru Projects won an arbitration award ruling from Delhi High Court in its favor
30 Sep 2026
Delhi High Court Upholds Order Partially Setting Aside JV's Arbitral Award Against NHAI
29 Sep 2026
KPIL wins EPC letter of award for UAE gas pipeline, classified 'Major' (over ₹4,000 crore)
28 Sep 2026
More numbers
- IPO price per LMG shareSEK 46 per equity share
- LMG total market valuationSEK 2,357 million
- KPIL stake in LMG post-listingapproximately 65.9 percent
- Gross consideration to KPTSSEK ~711.5 Million
- LMG net sales FY ended 31 Mar 2026SEK 3,225 million
- LMG adjusted EBITASEK 245 million
- LMG order book as of 30 June 2026SEK 4,349 million
- KPIL consolidated revenue FY26₹ 27,143 crore
- KPIL net profit FY26₹ 1,031 crore
- KPIL order book FY26₹ 65,457 crore
- Voltage range of LMG projectsup to 400 kV
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.