HEG Board Approves Scheme Effective Date, Record Date, and Management Changes
HEG Limited's board set September 1, 2026, as the effective date for its Composite Scheme of Arrangement and September 7, 2026, as the record date. Key management changes include Ms. Neha Rajvanshi appointed CFO and Shri Ravi Gupta as Company Secretary. Shri Riju Jhunjhunwala will become Chairman, MD & CEO.
The Composite Scheme of Arrangement and subsequent management restructuring are significant corporate events that will alter the company's structure and leadership. The record date and effective date are crucial for shareholders and stakeholders, indicating a material change in operations.
The announcement details a scheme of arrangement, record dates, and management changes. While these are significant corporate actions, they do not inherently suggest a positive or negative financial impact without further context on the scheme's financial implications. The management changes are part of the restructuring.
HEG Limited announced that its Board of Directors, at a meeting held on August 24, 2026, has approved key aspects of a Composite Scheme of Arrangement. The scheme, previously sanctioned by the National Company Law Tribunal (NCLT) on August 13, 2026, will become effective on Tuesday, September 1, 2026.
Additionally, Monday, September 7, 2026, has been fixed as the record date for determining shareholders eligible to receive consideration pursuant to the scheme. The scheme involves the demerger of a demerged undertaking from HEG Limited into HEG Graphite Limited, with the latter issuing one equity share of ₹2 each for every one equity share of HEG Limited held on the record date. It also includes the amalgamation of Bhilwara Energy Limited with HEG Limited, where HEG will issue eight equity shares of ₹2 each for every seven equity shares of ₹10 each of Bhilwara Energy Limited held on the effective date.
The board also noted significant changes in Key Managerial Personnel (KMP) and Senior Management Personnel effective from September 1, 2026. Shri Vivek Chaudhary and Shri Ravi Kant Tripathi will cease as Company Secretary & Compliance Officer and Chief Financial Officer, respectively, due to their employment transfer to HEG Graphite Limited. Ms. Neha Rajvanshi has been appointed as the new Chief Financial Officer, and Shri Ravi Gupta as the new Company Secretary & Compliance Officer.
Shri Ravi Jhunjhunwala will relinquish his roles as Chairman, Managing Director & CEO but will continue as a Non-Executive Non-Independent Director. Shri Riju Jhunjhunwala has been elevated from Vice-Chairman to Chairman, Managing Director & CEO, effective September 1, 2026, until August 31, 2031, subject to shareholder approval. Several additional directors have been appointed and some directors have resigned to facilitate the board's reconstitution post-scheme effectiveness. The company also proposes to change its name to "HEG Advanced Materials Limited" and rename "HEG Graphite Limited" to "HEG Limited". The board meeting commenced at 01:30 PM IST and concluded at 04:00 PM IST.
What to do with a filing like this
HEG Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
That call is the part a filing cannot make for you. On RealCase, SEBI-registered research analysts and investment advisers read announcements like this one and turn the ones that matter into actions inside their model portfolios: a change in weight, a hold, or nothing at all. You are not left working out which of the roughly 250 filings published each day needs a response. The portfolio you follow is updated when a filing actually warrants it, with the reason written down.
See the model portfoliosA plain-language summary of a public exchange filing by HEG Limited. Read the original for the full detail.