Siemens Energy India listing on June 19; Jefferies shares likely listing price, target
The demerged business of Siemens Ltd, Siemens Energy India Ltd, is all set to make stock market debut on Thursday, June 19. Upon listing, Siemens Energy India could be India’s largest listed pure-play power T&D equipment player with $10 billion-plus market capitalisation (m-cap), followed by Hitachi Energy and GE Vernova T&D at $6.8-9.6 billion.
Siemens was demerged on April 7 and Siemens ex-energy price opened at Rs 2,450 per share, suggesting an implied Rs 2,478 per share value for the Siemens Energy entity, Jefferies said. It sees Siemens Energy logging 40 per cent EPS CAGR over FY24-27E, driven by the robust T&D pipeline and operating leverage implying healthy upside potential below Rs 3,000 per share.
Siemens Energy should be…
