HEG Limited has completed a major corporate restructuring through a Scheme of Arrangement, separating its core graphite electrode business from its green energy and advanced materials businesses.
The Scheme has been sanctioned by the Hon’ble NCLT, Indore Bench and became effective on September 1, 2026.
Under the restructuring, the graphite electrode business will be transferred to HEG Graphite Limited, while the existing HEG entity will focus on green power, battery energy storage solutions and advanced materials.
Here’s what it means for shareholders
Existing HEG shareholders will receive shares of the resulting company under a 1:1 share entitlement ratio.
Record Date: September 7, 2026
Share Entitlement Ratio:
1 fully paid-up equity share of ₹2 each of HEG Graphite Limited
for every
1 fully paid-up equity share of ₹2 each held in HEG Limited
Key Highlights
Appointed / Effective Date: September 1, 2026
Record Date: September 7, 2026
NCLT Approval: Indore Bench
Share Exchange Ratio: 1:1
What changes for investors
Eligible HEG shareholders will receive 1 share of HEG Graphite Limited for every 1 share of HEG Limited held as on the Record Date.
The resulting company’s shares are proposed to be listed separately, subject to completion of the necessary regulatory and listing formalities.
Until listing, the newly allotted shares will appear under the unlisted section of your demat account and will become tradable after listing.
The average buy price of your existing HEG holdings will be updated after the company announces the applicable Cost of Acquisition (COA) following the demerger.
Additional Restructuring
The scheme also includes the amalgamation of Bhilwara Energy Limited into HEG Limited.
Under this arrangement, shareholders of Bhilwara Energy Limited will receive:
8 equity shares of ₹2 each of HEG Limited
for every
7 equity shares of ₹10 each held in Bhilwara Energy Limited.