Siemens Energy India listing: Shares hit 5% upper circuit after debuting at ₹2,840 apiece on the NSE; check details

On the NSE, the stock listed at ₹2,840, against the discovered price of ₹2,478.20. On the BSE, the stock listed at ₹2,850. The discovered price on the BSE was ₹2,368.80.

Soon after listing, the stock hit its 5% upper circuit limit on both the stock exchanges. On the BSE, the stock hit the upper circuit limit of ₹2,992.45, while, on the NSE, the scrip touched the upper circuit limit of ₹2,982.

Last seen, shares were trading at ₹2,918 apiece on the BSE, up 2.39%. On the NSE, shares were trading at ₹2,924.60, up 3%.

The Board of Siemens Energy India, at its meeting held on March 25, 2025, appointed Sunil Mathur as the chairman of the newly constituted board of directors of the demerged entity, according to a statement.

Guilherme Mendonca, who was the head of Siemens Ltd's energy business, took over as the Managing Director and Chief Executive Officer of Siemens Energy India, while Harish Shekar, who was the finance head of Siemens Ltd's energy business, was appointed as the executive director and chief financial officer of the new company.

The board also appointed Ketan Dalal, founder of Katalyst Advisors, a boutique structuring and tax firm; Subodh Kumar Jaiswal, a retired IPS officer; and Swati Salgaocar, Director, Vimson Group, as independent directors of the company.

Karl-Heinz Seibert, Corporate Vice President and head of mergers, acquisitions and post-closing management of Siemens AG; Juergen Wagner, corporate financial controller and chief accountant of Siemens AG; and Tim Holt, member of the executive board and labour director of Siemens Energy AG, have also been appointed as non-executive non-independent directors.

Ketan Thaker, who has been the non-executive non-independent director of the company since February 2024, ceased to be a director with effect from April 1.

The demerger of Siemens Energy India from Siemens Ltd has become effective from March 25, 2025.

"I am delighted to announce the appointment of our distinguished Board of Directors, who will steer Siemens Energy India Limited on this exciting new chapter," Mathur had said.

In December 2023, Siemens Ltd's board approved the incorporation of a wholly owned subsidiary in India to execute a proposed demerger process of its energy business, the company said in a regulatory filing.

Certain promoters – namely, Siemens Aktiengesellschaft, Germany, Siemens International Holding BV and Siemens Energy Holding BV, and also its ultimate parent company, Siemens Energy Aktiengesellschaft – have each requested the board of directors (BoD) of Siemens Ltd to consider, evaluate and thereafter, start taking exploratory steps towards a potential demerger of its energy business into a separate entity, the BSE filing had said.

In May 2024, Siemens said that the company's board approved a proposal to demerge its energy business into a separate legal entity, Siemens Energy India Ltd (which was a wholly owned subsidiary of Siemens Ltd).

Siemens Energy India: Largest pure-play power T&D equipment player

Siemens Energy India, on listing, should be India’s largest listed pure-play power T&D equipment player at a $10 billion-plus market cap, followed by Hitachi and GE Vernova at $6.8-9.6 billion, said analysts at Jefferies in their research report issued on June 18.

"We believe Siemens Energy India should see 40% EPS CAGR in FY24-27E driven by the robust T&D pipeline and operating leverage," the analysts at Jefferies added.