Siemens Ltd. today announced that its Board of Directors has approved the sale of its Low Voltage Motors and Geared Motors businesses, along with the related customer service operations, collectively known as the Low Voltage Motors business, as a going concern on a slump sale basis, to Innomotics India Private Limited for a consideration of INR 2,200 crore, on a cash-free, debt-free basis, subject to mutually agreed adjustments.
The transaction is likely to be completed in June 2026, subject to the completion of customary conditions precedent, including all necessary regulatory and statutory approvals such as approval of the Competition Commission of India, if required. The Board has determined the consideration, that is, the enterprise value for the sale and transfer of the Low Voltage Motors business, upon negotiation with the Buyer, having regard to two separate independent valuation reports for the Low Voltage Motors business as of 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 ending September 30, 2025, Revenue from Operations of the Low Voltage Motors Business was INR 967 crores, and Profit from Operations was INR 35 crores. This accounts for 6% of the Company’s Revenue from Operations and 2% of the Company’s Profit from Operations (each excluding Energy Business, which was demerged from the Company effective from March 1, 2025) for the 12 months ending September 30, 2025.
On October 1, 2024, the Company completed a sale of Innomotics GmbH (and its affiliates, Innomotics) – the global leaders in electric motors and large drives – to KPS Capital Partners, LP (KPS). This was an acquisition via share sale as well as the transfer of all the intellectual property rights relating to the business. The Company itself lacks the necessary intellectual property rights along with the necessary capabilities to support the Low Voltage Motors business of the Company. With the Low Voltage Motors business being a sales-oriented entity with contract manufacturing and reliance on intellectual property and other resources from Innomotics (now with KPS), the Board of directors decided that the sale of the business to Innomotics India Private Limited was the best course of action.
Sunil Mathur, Managing Director and Chief Executive Officer, Siemens Limited. “We are glad that finally, a suitable home for the business is found with Innomotics, thereby ensuring continuity for our customers and employees. This decision serves best the interest of all the stakeholders since Siemens Limited has minimal synergies with the Low Voltage Motors business.
