Thursday, July 18, 2024
2024 banners [roshan]

Siemens board approves demerger of Energy Business into a separate listed entity

Subscribe to YouTube Channel

Subscribe to Mojo4Industry YouTube Channel and get Latest Industry Updates. Do press Bell Icon to get automated notifications whenever new video is uploaded.

Must Read

Meta opens new office in Gurugram

Meta opens new office in Gurugram Meta, formerly Facebook, unveiled a new office in Gurugram. Spanning 130,000 square feet, across...

MARPOSS eyes India’s thriving biomedical market

MARPOSS eyes India's thriving biomedical market Today, we introduce Federico Poli, the Biomedical Group Industry Manager at Marposs. Recently, during...

Vitesco Technologies unveils its 48V Demo Scooter

Vitesco Technologies unveils its  48V Demo Scooter Vitesco Technologies, a renowned global supplier of advanced powertrain technologies and solutions for...

Siemens board approves demerger of Energy Business into a separate listed entity

The Board of Directors of Siemens Limited 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).

The new entity will subsequently be listed on the BSE Limited and National Stock Exchange of India Limited, the company said in a regulatory filing. 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.

Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited, said, “Siemens Energy India Limited and Siemens Limited will script new paths as two independent, publicly-listed companies. The underlying market drivers and capital allocation requirements are fundamentally different in the energy business compared to the industrial business. The demerger will enable both companies to pursue their specific strategies, focus on their core portfolios and take decisions on capital allocation. This will enable the full value of each of the businesses to be unlocked for the benefit of the shareholders.”

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 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.

The process of demerger, including receipt of requisite approvals, and subsequent listing of Siemens Energy India Limited is expected to be completed in 2025.

Subscribe to our Newsletter

Keep up with the latest industry news in India and around the world by subscribing to our industrial news update. This way, you'll always be in the know about what's happening in your industry, and you can stay ahead of the competition.

banner ads v1 2 650x80
mojo4industry on google news

Tech Talks

00:11:32

How power will power Maharashtra’s growth?

How power will power Maharashtra's growth? Maharashtra, one of India's most progressive states, owes much of its economic and financial...
mojo4industry podcast episodes click here to listen