HEG Limited Completes Share Allotment Under Composite Scheme of Arrangement
HEG Limited, now HEG Advanced Materials Limited, has completed a share allotment under a Composite Scheme of Arrangement involving Bhilwara Energy Limited and HEG Graphite Limited. The promoter group's overall shareholding increased from 56.28% to 60.72%. This transaction falls under SEBI Takeover Regulations exemption.
The Composite Scheme of Arrangement and the subsequent share allotment represent a significant corporate restructuring, involving multiple entities and a change in the company's name. This could have a medium-term impact on the company's structure and operations, affecting stakeholders.
The announcement details a corporate restructuring through a scheme of arrangement and share allotment, which is a procedural event. While it involves changes in shareholding, it does not inherently indicate a positive or negative financial or operational shift for the company.
HEG Limited (now renamed HEG Advanced Materials Limited) has completed the allotment of shares pursuant to a Composite Scheme of Arrangement. This scheme involves HEG Advanced Materials Limited (Transferee Company), HEG Graphite Limited (Resulting Company), and Bhilwara Energy Limited (Transferor Company), as approved under Sections 230 to 232 of the Companies Act, 2013.
The acquisition of shares by various entities, including Ravi Jhunjhunwala, Rishabh Jhunjhunwala, Rita Jhunjhunwala, Riju Jhunjhunwala, Redrose Vanijya LLP, RSWM Limited, RLJ Family Trusteeship Pvt. Ltd, Norbury Investments Limited, Microlight Investments Ltd., and LNJ Spark Advisory LLP, is in reliance upon exemption provided for in Regulation 10(1)(d)(ii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This exemption applies to acquisitions pursuant to a scheme of arrangement involving the target company as a transferor or transferee company, or reconstruction, including amalgamation, merger, or demerger, ordered by a court or tribunal.
LNJ Spark Advisory LLP, a part of the Promoter group and Persons Acting in Concert, made this disclosure under Regulation 10(6) of the SEBI Takeover Regulations due to an increase in its shareholding by more than 5% during the year, arising from the share allotment under the scheme. The overall shareholding of the Promoter/Promoter Group, including LNJ Spark Advisory LLP, has increased from 56.28% to 60.72%. The announcement was made on 17th September 2026.
What to do with a filing like this
HEG Limited filed this with the NSE as a statutory disclosure, categorised under merger. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by HEG Limited. Read the original for the full detail.