The Board of Directors of Siemens Limited has approved the proposal to demerge its Energy Business into a separate legal entity – Siemens Energy India Limited (currently a wholly owned subsidiary of Siemens Limited). Siemens Energy India Limited will be subsequently listed and will mirror the shareholding of Siemens Limited, upon the receipt of requisite approvals.
Siemens Limited will continue to be a leading technology-focused company in Industry, Infrastructure and Mobility while Siemens Energy India Limited will focus on being the most valued energy technology company supporting its customers in transitioning to a more sustainable world. Siemens Energy India Limited will provide solutions across the entire energy value chain – from power and heat generation, transmission to storage through a portfolio that includes conventional and renewable energy technology such as gas and steam turbines, hybrid power plants operated with hydrogen as well as power generators and transformers.
As per the scheme of arrangement, shareholders of Siemens Limited will receive 1 (one) share of Siemens Energy India Limited for every 1 (one) share of Siemens Limited. The new entity will subsequently be listed on the BSE Limited and National Stock Exchange of India Limited. The demerger will lead to the creation of two strong and independent entities which are able to better address their respective markets and customers with a more focused approach.
