Kalpataru Projects International Limited (KPIL) announced that its first-level step-down material subsidiary, Linjemontage i Grästorp AB (LMG), has received approval for its prospectus from the Swedish Financial Supervisory Authority. This approval, alongside the Board of Directors’ endorsement, is a crucial step for LMG’s initial public offering (IPO) on Nasdaq Stockholm, which is expected to complete by the end of September 2026.
LMG Prospectus Approved for IPO
Kalpataru Projects International Limited (KPIL) has announced that its subsidiary, Linjemontage i Grästorp AB (LMG), has achieved a significant milestone with the approval of its prospectus by the Swedish Financial Supervisory Authority (SFSA). This development, occurring on September 16, 2026, is in furtherance to the company’s earlier intimation and signals progress towards LMG’s initial public offering (IPO).
Key IPO Details
The IPO involves the offering of up to 15,466,413 equity shares of LMG. The shares are being offered at a value of SEK 46 per share, representing approximately 30.19% of LMG’s equity share capital. The board of directors for LMG has also officially considered and approved the prospectus in connection with this offering. The completion of the IPO is anticipated by the end of September 2026, subject to prevailing market conditions and necessary approvals.
Subsidiary’s Financial Contribution
For the financial year ended March 31, 2026, LMG contributed approximately 11.14% to KPIL’s consolidated revenue. Its consolidated net worth as of the same date was approximately SEK 334.25 million, representing about 4.5% of KPIL’s consolidated net worth.
Source: BSE
