BAJAJ BROKING
Siemens Limited plans to demerge its energy business, forming Siemens Energy India Limited, listed on Indian stock exchanges. Shareholders will receive shares in 1:1 proportion. In FY23, the energy segment generated ₹59,869 crore in revenue, a third of the total.
Siemens Limited obtained board approval to demerge its energy business into a separate entity, Siemens Energy India Limited, listed on BSE and NSE. Shareholders will receive one share in the new entity for every share in Siemens Ltd.
The shareholding of Siemens Energy India will reflect that of the parent entity, with Siemens AG holding 69%, Siemens Energy (a global entity) 6%, and the rest with the public.
Additional Read: Share Market News
The demerger aligns with a global strategy initiated in 2020 by Siemens AG. It aims to allow both entities to focus on core activities, portfolios, and capital allocation independently.
Siemens Ltd will continue as a technology-focused company in industry, infrastructure, and mobility, while Siemens Energy India will specialise in energy technology to support sustainable practices.
Sunil Mathur, MD & CEO of Siemens Ltd, anticipates significant growth in the energy market, estimated to expand at 9% annually till 2030. Government infrastructure spending and renewable energy initiatives are expected to drive this growth.
The board also approved an investment of ₹519 crore to expand capacities at a switchgear factory in Goa and a metro train manufacturing unit in Aurangabad. These expansions are slated for completion by FY27 and FY28, respectively.
In the March quarter, Siemens Ltd reported a 74% rise in net profit to ₹896 crore, with revenue increasing by 19% to ₹5,248 crore. New orders amounted to ₹5,184 crore in the same period, despite some order deferrals and industrial slowdowns.
Sources:
https://www.thehindubusinessline.com/companies/siemens-ltd-spins-off-energy-business-shareholders-to-get-one-share-for-every-share-held/article68175275.ece
https://www.moneycontrol.com/news/business/companies/siemens-india-board-approves-demerger-of-its-energy-arm-into-separate-listed-entity-12721975.html
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Gold Price in India | Gold Rises 1% to $2,719 Ahead of U.S. PPI Data
12 Dec, 2024 | 39 Min. read
Indian Overseas Bank Receives ₹808.3 Crore Income Tax Refund
12 Dec, 2024 | 2 Min. read
Shakti Pumps Secures ₹754.3 Crore Solar Water Pump Order in Maharashtra
12 Dec, 2024 | 2 Min. read
Coca-Cola Sells 40% Stake in Bottling Arm to Jubilant Bhartia Group
12 Dec, 2024 | 2 Min. read
Vedanta to Consider Fourth Interim Dividend on December 16
12 Dec, 2024 | 2 Min. read
Share Market Today | Flat to Positive Start Expected for Indian Markets Amid Global Cues
12 Dec, 2024 | 4 Min. read
Securities Transaction Tax: Meaning & Charges
12 Dec, 2024 | 7 Min. read
International Gemological Institute India IPO Issue Date & Pricing
12 Dec, 2024 | 4 Min. read
How to Apply for International Gemological Institute India IPO?
12 Dec, 2024 | 3 Min. read
Robo Trading: Meaning, Examples, Features & Types
12 Dec, 2024 | 6 Min. read
India’s Leading Infrastructure Stocks for 2024
12 Dec, 2024 | 6 Min. read
India’s Leading Government Stocks in 2024
12 Dec, 2024 | 6 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading