HEG Limited Receives NCLT Approval for Demerger Scheme
HEG Limited has received NCLT approval for a demerger scheme involving HEG Graphite Limited and Bhilwara Energy Limited. The restructuring will create two independently listed companies, with shareholders receiving one share of HEG Graphite Limited for every HEG Limited share held. This aims to unlock value by separating the graphite electrode business from advanced materials and renewable energy ventures.
The demerger is a significant corporate restructuring that will result in two independently listed entities, fundamentally changing the company's structure and potentially unlocking substantial shareholder value.
The NCLT approval for the demerger scheme is a positive development that is expected to unlock shareholder value and create focused growth platforms for the company's distinct business segments.
HEG Limited, a leading global manufacturer of graphite electrodes and part of the LNJ Bhilwara Group, has received approval from the Hon'ble National Company Law Tribunal (NCLT), Indore Bench, for its Composite Scheme of Arrangement. The order, uploaded on August 18, 2026, sanctions the scheme involving HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited. This approval signifies the commencement of the execution phase for a significant restructuring that will lead to two independently listed companies.
The demerger aims to unlock long-term value for shareholders by creating two distinct entities. One will focus on the established, cash-generative graphite electrode business, continuing the legacy of HEG Limited. The other will be a growth platform concentrating on advanced materials, battery energy solutions, and renewable energy, leveraging the group's expertise in carbon and advanced materials.
Shareholders of HEG Limited will receive one equity share of the newly formed HEG Graphite Limited for every one share they hold in HEG Limited. This restructuring follows earlier approvals from the boards and shareholders of the involved companies, as well as no-objection letters from the BSE and NSE. EY served as the structuring and tax advisor, and Khaitan & Co acted as the legal advisor for the scheme.
What to do with a filing like this
HEG Limited filed this with the NSE as a statutory disclosure, categorised under demerger. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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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.