Siemens Energy business in India is now listed
Siemens Energy India Limited is now a separate, publicly listed company.
Image for illustration purposes. (Image credit: Tricky_Shark/shutterstock.com)
India, Mumbai: Siemens AG has successfully completed the listing of its energy business in India on BSE Limited and the National Stock Exchange of India Limited as Siemens Energy India Limited. This is a milestone in the strategic transformation of the company’s portfolio as it simplifies and strengthens its corporate structure in the Indian market. The demerger and listing of Siemens Energy India Limited creates two independent companies: Siemens Limited, India and Siemens Energy India Limited.
The development follows the agreement between Siemens AG and Siemens Energy AG to accelerate the unbundling of the business activities of the Indian subsidiary of Siemens. Siemens Energy AG will ultimately acquire a controlling stake in Siemens Energy India Limited, subject to applicable regulatory approvals.
“The listing of Siemens Energy India Limited simplifies and strengthens our corporate structure in India. This move demonstrates our long-term commitment to this fast-growing and strategically important market and reflects our strategic focus on empowering each business to succeed independently,” said Roland Busch, President and CEO of Siemens AG.
Siemens AG holds 69% in Siemens Energy India Limited, while Siemens Energy AG holds 6%. The remainder is in free float, mirroring the existing ownership structure of Siemens Limited India.
Source: Siemens AG
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