It’s a rout across global markets along with India. However, there are some pockets of gains. Siemens stock soared as much as 20% as the stock went ex-demerger. The capital goods major has demerged its Energy business and existing Siemens shareholders will get 1 share of Siemens Energy India for every 1 share of Siemens India shares.
Siemens Energy India – The new demerged entity
Siemens Energy India is poised to be the most valued energy technology company, and is dedicated to a sustainable future. The record date for the demerger was set for April 7 and the stock will be temporarily on the NSE, BSE indices till its listing date.
ALSO READSiemens India receives NCLT approval for energy business demerger – Check all details here
Meanwhile, the Board of Siemens Energy India appointed Sunil Mathur, Managing Director and Chief Executive Officer of Siemens as the Chairman of the newly constituted Board of Directors. Guilherme Mendonca, who was the Head of Siemens’ Energy Business, takes over as the Managing Director and Chief Executive Officer of the Company.
Siemens demerger after NCLT green signal
Siemens India received the approval from NCLT on March 25. The board approved the 1:1 share ratio. The company’s statement highlighted that 1 fully paid-up equity share of Siemens Energy with a face value of Rs 2 each for every 1 fully paid-up equity of Rs 2 each held in the company.
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