Siemens AG (Siemens Aktiengesellschaft) (XTRA:SIE) is seeking a discount from Siemens Energy AG (XTRA:ENR) for any possible purchases of shares in their Indian joint venture Siemens Limited (NSEI:SIEMENS), three people familiar with the matter said. Siemens AG hopes for a discount of around 15%, two of the people said, with one of them saying the discount would be from where shares in Siemens Ltd. have been trading in recent months. The source pointed to the asset's high valuation, which has more than doubled since 2020.

Siemens Energy is weighing the sale of a substantial part of its 24% stake in Siemens Ltd, in which Siemens AG already owns 51%, as one way to boost liquidity, sources said last week. While both companies in principle agree that a deal makes sense, talks are ongoing and no terms have yet been agreed, the people said. Siemens and Siemens Energy both declined to comment.