Introduction

Schneider Electric, a multinational corporation focusing on building automation, security, and power monitoring, is gearing up to relist its Indian subsidiary on the Metropolitan Stock Exchange of India (MSEI) following a directive from the capital market regulator, Sebi. This decision arrives after a prolonged absence from the stock exchanges lasting almost six years.

Key Points

• Compliance Mandate: After a directive from Sebi earlier this year, Securities Appellate Tribunal (SAT) accepted Schneider Electric's withdrawal application and directed the company to comply with Sebi's order to either relist or delist within six months. Schneider had expressed its intent to relist after delisting in the past.

• Background Context: The case stemmed from shareholders' dissatisfaction and regional stock exchange (RSE) grievances concerning Sebi's treatment of their complaints. Sebi mandated companies exclusively listed on RSEs to seek listings on national-level stock exchanges. Schneider Electric's shares were previously listed on Bangalore and Pune stock exchanges, which later closed down.

• Business Operations in India: Schneider Electric operates 30 active factories in India, including five smart factories located in Hyderabad, Bengaluru, and Chennai. The company focuses on building smart technologies for various sectors, including electrical energy, water, oil and gas, and construction.

• Future Expansion: In October, Schneider's Indian arm outlined plans to broaden its battery manufacturing scope, emphasizing advancements in battery technologies and chemistries. The company is actively researching and evaluating future battery technologies to enhance its offerings and cater to evolving market demands.

Conclusion

Schneider Electric's decision to relist its Indian subsidiary comes after a regulatory directive from Sebi, marking a significant step after nearly six years of delisting. This move aligns with the company's commitment to compliance and its vision for future business expansion in India, particularly in advanced battery technologies and diverse sectors served by smart technologies.