Kalpataru Projects: LMG IPO Prospectus Approved by Board & SFSA

Kalpataru Projects International Ltd (KPIL) announced that its step-down subsidiary, LMG, has received approval for its IPO prospectus from its Board of Directors and the Swedish Financial Supervisory Authority (SFSA). The IPO involves the sale of up to 15,466,413 equity shares of LMG by Kalpataru Power Transmission Sweden AB (KPTS) and other selling shareholders, representing up to 30.19% of LMG's equity. The offer price implies a valuation of up to approximately SEK 2,350 million (approx. INR 2,324 Crores). LMG's shares are expected to be listed on Nasdaq Stockholm. LMG's consolidated turnover for FY26 was SEK 3,225.11 million (~USD 341.16 million), contributing ~11.14% to KPIL's consolidated revenue. LMG's consolidated net worth as of March 31, 2026, was SEK 334.25 million (~USD 35.36 million), representing ~4.5% of KPIL's consolidated net worth. The IPO is expected to be completed by the end of September 2026, subject to market conditions and approvals.