“We are pleased to have found the right home for the business with Innomotics, ensuring continuity for our customers and employees. Given Siemens Limited having limited synergies with the Low Voltage Motors business, this decision is in the best interests of all stakeholders.” Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited
Siemens Limited has recently announced that its Board of Directors has approved the sale of its Low Voltage Motors and Geared Motors businesses, including the related customer service operations (collectively referred to as the Low Voltage Motors business) as a going concern on a slump sale basis, to Innomotics India Private Limited for a consideration (enterprise value) of ₹2,200 crore, on a cash-free, debt-free basis, subject to mutually agreed adjustments.
The transaction is expected to close in June 2026, contingent upon fulfillment of customary conditions precedent, including requisite regulatory and statutory approvals such as clearance from the Competition Commission of India, as may be applicable.
The Board has determined the consideration (enterprise value) for sale and transfer of the Low Voltage Motors business after negotiation with the Buyer, taking into account two separate independent valuation reports of the Low Voltage Motors business as at September 30, 2025 pursuant to independent valuation exercises conducted by each of Grant Thornton Bharat LLP and KPMG Valuation Services LLP.
For the twelve months ended 30 September 2025, the Low Voltage Motors business recorded revenue from operations of ₹967 crore and profit from operations of ₹35 crore. This represents 6% of the Company’s revenue from operations and 2% of the Company’s profit from operations (each excluding Energy business which got demerged from the Company effective 1 March 2025) for the 12 months ended 30 September 2025.
On 1 October 2024, Siemens AG completed a transaction for sale of Innomotics GmbH (together with its affiliates, Innomotics) – a world-leading electric motors and large drives company – to KPS Capital Partners, LP (KPS), by way of share sale, along with transfer of all intellectual property rights of the business. The Company itself does not have the requisite intellectual property or other capabilities to service the Low Voltage Motors business without support from Innomotics.
Given the Low Voltage Motors business functions largely as a sales organization with outsourced manufacturing and dependence on Innomotics (now owned by KPS) for intellectual property and other capabilities, the Board concluded that selling the Low Voltage Motors business to Innomotics India Private Limited was the best available option.
Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited. “We are pleased to have found the right home for the business with Innomotics, ensuring continuity for our customers and employees. Given Siemens Limited having limited synergies with the Low Voltage Motors business, this decision is in the best interests of all stakeholders.”
