EPC firm Kalpataru Projects lists Swedish arm on Nasdaq Stockholm

Mumbai-based engineering and construction firm Kalpataru Projects International has listed its Sweden-headquartered step-down subsidiary, Linjemontage i Grastorp AB , on the Nasdaq Stockholm Exchange. This is the first time an Indian company is listing its foreign subsidiary on the Swedish exchange.Linjemontage i Grastorp AB specializes as an EPC (engineering, procurement, and construction) provider within the power infrastructure segment. The initial public offering (IPO) for the company was priced at SEK 46 per equity share, translating to a valuation of SEK 2,357-M (approximately INR 2,282 crore).Following the listing, Kalpataru Projects International retains an approximate 65.9% stake in the subsidiary through its wholly owned unit, Kalpataru Power Transmission Sweden. The parent firm expects to receive a gross consideration of SEK 711.5-M f(USD 71.74 M) from the transaction.