LMG, 96.12% owned by KPIL, has received Swedish Financial Supervisory Authority approval for its IPO prospectus. The board on Wednesday green‑lit the offer of 15,466,413 equity shares at SEK 46 each, with a quota value of SEK 0.50. That pricing translates to a market value of roughly SEK 2.35 billion, or about ₹2.324 billion, and represents 30.19% of LMG’s equity capital.
In the fiscal year ended March 31, 2026, LMG posted a consolidated turnover of 3,225.11 million SEK (~$341 million), about 11.14% of KPIL’s total revenue. Its net worth stood at 334.25 million SEK (~$35 million), contributing roughly 4.5% to KPIL’s balance sheet. These numbers underscore LMG’s growing footprint within the parent’s portfolio.
Kalpataru Projects shares closed at ₹1,393.70 on the BSE, up ₹18.45 or 1.34% after the regulatory nod. Investors reacted positively to the prospectus approval, interpreting the IPO as a potential capital‑strengthening move. Analysts highlighted that the green‑shoe option could broaden the investor base and potentially lift the share price further.
The IPO remains subject to prevailing market conditions and final clearances. KPIL expects to wrap up the offering by the end of September 2026, after which LMG will continue as a step‑down subsidiary. Market watchers should keep an eye on the Nasdaq Stockholm filing and subsequent share‑price dynamics.