Siemens Limited agreed to Spin-Off Siemens Energy India Limited on May 14, 2024. Upon the Scheme becoming effective, in consideration of the demerger of the Energy Business, Siemens Energy India shall issue and allot on a proportionate basis to the shareholders of the Company whose names are recorded in the register of members and records of the depository as shareholders of the Company as on the Record Date. The equity shares of SEIL shall be listed and admitted to trading on BSE and NSE.

The Proposed Transaction is, inter alia, subject to receipt of requisite approvals from statutory and regulatory authorities, including the approval from BSE Limited, National Stock Exchange of India Limited and the Securities and Exchange Board of India, the respective shareholders, creditors and National Company Law Tribunal. Siemens Limited board has approved the transaction. The demerger is expected to be completed in 2025.

Khaitan & Co. acted as a legal advisor and Axis Capital Limited provided the fairness opinion to Siemens Limited.