The board of Siemens Ltd has given its approval for the formation of a wholly-owned subsidiary in India to facilitate the proposed demerger of its energy business. The company revealed that key stakeholders, including Siemens Aktiengesellschaft, Germany, Siemens International Holding BV, Siemens Energy Holding BV, and its ultimate parent company Siemens Energy Aktiengesellschaft, have individually requested the board of directors to consider, assess, and subsequently initiate preliminary measures for a potential demerger of the energy business into a distinct entity. As reported by The Indian EXPRESS, additionally, the board has approved the immediate establishment of a wholly-owned subsidiary in Mumbai, anticipating its potential necessity in the event that the board decides to execute the demerger.
