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Press Release14 May 2024Siemens AGMumbai
Siemens Limited Board approves demerger of Energy Business into a separate listed legal entity; Share Entitlement Ratio fixed at 1:1
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.
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.”
The process of
demerger, including receipt of requisite approvals, and subsequent listing of
Siemens Energy India Limited is expected to be completed in 2025.
More information is available in the Investor Relations section of the
Company’s website.
Siemens Limited is a technology company focused on industry, infrastructure, transport as well as transmission and generation of electrical power. From more resource-efficient factories, resilient supply chains, and smarter buildings and grids, to cleaner and more comfortable transportation, the company creates technology with purpose adding real value for customers. By combining the real and the digital worlds, Siemens empowers its customers to transform their industries and markets, to transform the everyday for people. Siemens Limited is the flagship listed company of Siemens AG in India. As of September 30, 2023, Siemens Limited had Revenue from continuing operations of Rs. 17,701 crore and 8,888 employees. Further information is available on the Internet at
www.siemens.co.in.
Forward-looking statements: “This document contains forward-looking statements based on beliefs of Siemens' management. The words 'anticipate', ‘believe’, ‘estimate’, ‘forecast’, ‘expect’, ‘intend’, ‘plan’, ‘should’, and ‘project’ are used to identify forward looking statements. Such statements reflect the company's current views with respect to the future events and are subject to risks and uncertainties. Many factors could cause the actual result to be materially different, including, amongst others, changes in the general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products, lack of acceptance of new products or services, and changes in business strategy. Actual results may vary materially from those projected here. Siemens does not intend to assume any obligation to update these forward-looking statements.”
Contact
Bijesh Kamath / Shahzad Bagwan
Siemens Limited, Media Relations
+91 22 6251 7000