Siemens Energy India lists on bourses

While Germany-based Siemens AG and its subsidiaries hold 69 per cent stake in SEIL, subsidiaries of Siemens Energy AG hold 6 per cent, with the remainder in free float

New Delhi: Siemens Energy India Ltd (SEIL) got listed on stock exchanges BSE and NSE on Thursday.

While Germany-based Siemens AG and its subsidiaries hold 69 per cent stake in SEIL, subsidiaries of Siemens Energy AG hold 6 per cent, with the remainder in free float.

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Siemens Energy shares opened at Rs 2,850 apiece on the BSE, and hit 5 per cent upper circuit Rs 2,992.45. The stock dropped 5 per cent from listing price and touched a low of Rs 2,707.50 per share.

On the NSE, the shares were listed at Rs 2,840, up 14% from its discovery price of Rs 2,478.20 per share. Soon after the listing, Siemens Energy share price hit a 5% upper circuit of Rs 2,982. It then dropped and was trading at 2,700 a share.

With the listing, SEIL is now positioned to operate with greater agility, transparency, and strategic focus, ready to lead in one of the world’s most dynamic and fast-growing energy markets, a statement said.

The company supports the integration of renewable energy, modernisation of the national grid, and decarbonisation of key industries.

“With this listing we reaffirm our long-standing commitment to India’s energy future. As India advances toward becoming a USD 7 trillion economy, a strong and resilient energy system will be essential. SEIL with its dedicated team is ready to support this important journey for India and its people,” MD and CEO Guilherme Mendonca said.

In December 2023, Siemens Ltd said its board has approved the demerger of its energy business into a separate entity.