KPIL subsidiary Linjemontage lists on Nasdaq Stockholm

Kalpataru Projects International Limited (KPIL) announced the successful listing of its step-down subsidiary, Linjemontage i Grästorp AB (LMG), on Nasdaq Stockholm. This marks KPIL as the first Indian company to list its foreign subsidiary on this exchange. The IPO was priced at SEK 46 per share, valuing LMG at SEK 2,357 million. KPIL, through Kalpataru Power Transmission Sweden AB, retains approximately 65.9% stake in LMG post-listing and will receive gross proceeds of approximately SEK 711.5 million. This listing is expected to accelerate Linjemontage's growth in the Nordic power infrastructure market and unlock value for KPIL shareholders.