Kalpataru Power’s Sweden arm completes acquisition of 15% stake in Linjemontage Grastrop; stock jumps ~1%

Kalpataru Power Transmission Limited knowledgeable that Kalpataru Energy Transmission Sweden AB (KPT Sweden), its Wholly Owned Subsidiary in Sweden has accomplished the acquisition of the remaining 15% fairness stake of Linjemontage i Grastrop AB, a Swedish EPC Firm headquartered in Grastrop, Sweden. LMG additionally has two wholly-owned subsidiaries.

The corporate accomplished the acquisition of the steadiness 15% stake on July 7, 2022.

The estimated consideration for the 15% stake shall be roughly USD 11.5 million (approx. Rs91.13 crore).

The Firm will purchase 300 fairness shares representing 15% of the share capital of LMG by means of its WOS KPT Sweden.

LMG, based on March 22, 1993, is concerned in three main enterprise areas: EPC of Substations, Transmission & Distribution Networks, and O&M of Electrical energy Community Providers within the voltage vary of 0.4 – 400kV.

LMG (together with its wholly-owned subsidiary) has a presence in Sweden and Norway, with an order e-book of roughly SEK 1.31 billion (USD 137.88 million).

The acquisition will bolster KPT’s place within the Nordic market. As a result of they’ve the oldest grid community, Sweden and Norway are very interesting markets for transmission line infrastructure. KPTL will profit from elevated investments in grid infrastructure and renewable power within the Nordic markets.

At round 11.17 AM, Kalpataru Energy was buying and selling at Rs362.20 up by Rs4.45 or 1.24% from its earlier closing of Rs357.75 on the BSE. The scrip opened at Rs360 and has touched intraday excessive and low of Rs371.45 and Rs359 respectively.