Siemens Energy India Begins Trading on BSE, NSE Post Demerger: Key Highlights of the Listing

Siemens Energy India, the newly demerged entity from Siemens Ltd., commenced trading on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Thursday, June 19, 2025, following its successful demerger. The listing comes at a strategically opportune moment for the company, poised to capitalise on significant investment and heightened activity within India’s power transmission and distribution (T&D) sector.

The demerger, which received approval from the National Company Law Tribunal (NCLT), saw Siemens Ltd. shareholders receive a 1:1 equity allotment, meaning one share of Siemens Energy India for every share held in Siemens Ltd. The record date for determining shareholder eligibility for this allotment was set as April 7, 2025. The demerger itself became effective on March 25, 2025.

Robust Listing Performance and Price Discovery

Siemens Energy India shares witnessed a strong market entry. On the NSE, the stock listed at ₹2,840, surpassing the reported dummy price discovery of ₹2,478.20 as of April 7, 2025. Similarly, on the BSE, the shares debuted at ₹2,850, exceeding its discovered price of ₹2,368.80. Immediately following its listing, the stock hit its 5% upper circuit limit on both exchanges, reaching ₹2,992.45 on the BSE and ₹2,982 on the NSE. This robust performance highlights significant investor interest in the new entity.

Strategic Positioning and Growth Catalysts

Siemens Energy India, now a pure-play power transmission and distribution (T&D) equipment company, is strategically positioned to capitalise on the evolving energy infrastructure landscape in India. According to Jefferies, the company is expected to emerge as the country’s largest listed pure-play T&D equipment provider, with a projected market capitalisation exceeding $10 billion. Key drivers of this outlook include sustained capital expenditure from both public and private sectors, rising energy infrastructure demand due to the data centre boom, and the potential rollout of multiple High Voltage Direct Current (HVDC) projects, each offering an addressable market of around ₹10,000 crore. Jefferies further projects a robust 40% compound annual growth in earnings per share (EPS) between FY24 and FY27, supported by a strong T&D project pipeline and operational leverage.

New Leadership at the Helm

In anticipation of its public market entry, the Board of Siemens Energy India appointed Sunil Mathur as the chairman of the newly constituted board of directors on March 25, 2025. Guilherme Mendonca, who previously headed Siemens Ltd.'s energy business, assumed the role of Managing Director and Chief Executive Officer. Harish Shekar was appointed Executive Director and Chief Financial Officer. The board also includes a mix of independent and non-executive non-independent directors, bringing diverse expertise to the new entity.

Investor Sentiment and Sectoral Impact

The listing comes at a time when India is accelerating its shift towards renewable energy, offering potential tailwinds for Siemens Energy India. Analysts expect the company to benefit from increased infrastructure investments, green energy push, and digitisation of energy systems.

Investor sentiment around the listing remains cautiously optimistic. While the demerger is structurally positive, analysts are evaluating the stock's standalone financials, order book visibility, and management commentary before building a medium-term outlook. The broader energy equipment sector is also expected to gain traction from increased electrification, grid modernisation, and clean energy mandates.

Outlook: Key Metrics to Watch

Post listing, the market will assess Siemens Energy India’s valuation relative to peers, margin profiles, and capacity to scale in the competitive energy solutions market. Attention will also be on upcoming quarterly earnings, execution of existing orders, and fresh tender activity in sectors such as transmission, hydrogen, and wind energy.

The company’s ability to independently secure and execute large-scale energy infrastructure contracts will play a crucial role in shaping its market performance in the coming quarters. Analysts also suggest monitoring how Siemens Energy India leverages Siemens AG’s global technology pipeline and partnerships for domestic advantage.

Conclusion

The listing of Siemens Energy India marks a significant milestone in Siemens’ corporate restructuring in India. While the full valuation trajectory will depend on execution, capital efficiency, and policy tailwinds, the demerger is seen as a move that brings sharper strategic clarity to the group’s industrial and energy operations. Investors and analysts will be keenly observing the next few quarters as the newly listed entity charts its path in India’s dynamic energy sector.

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