HEG Limited Renamed to HEG Advanced Materials Limited Post Scheme of Arrangement
HEG Limited is now HEG Advanced Materials Limited effective September 2, 2026. This follows a composite scheme of arrangement approved by NCLT. Bhilwara Energy Limited is amalgamated into HEG Advanced Materials Limited. The graphite electrodes business will be demerged into HEG Graphite Limited, expected to list in October. Shareholders receive a 1:1 entitlement for the graphite business shares.
The company is undergoing a major corporate restructuring, including a demerger and amalgamation, which will result in two separately listed entities. This significantly alters the company's structure and business focus, impacting shareholders and operations.
The announcement details a corporate restructuring involving a name change, demerger, and amalgamation. While it outlines significant changes, there are no immediate financial gains or losses explicitly stated that would sway the sentiment positively or negatively.
HEG Limited has officially been renamed to HEG Advanced Materials Limited, effective September 2, 2026, following the issuance of a fresh Certificate of Incorporation by the Registrar of Companies, Gwalior.
This name change is a result of a Composite Scheme of Arrangement sanctioned by the National Company Law Tribunal (NCLT), Indore Bench, on August 13, 2026. The Scheme became effective on September 1, 2026, with a Record Date set for September 7, 2026, for shareholder entitlements. The company will continue to be listed on the BSE and NSE.
The Composite Scheme of Arrangement involves reorganizing HEG into two separately listed entities. The graphite electrodes business will be demerged into a new company, proposed to be renamed HEG Limited, which is expected to be listed on the BSE and NSE in approximately 45 days, around the second half of October. Concurrently, Bhilwara Energy Limited is being amalgamated into the existing listed entity, now HEG Advanced Materials Limited, and will be dissolved without winding up.
Shareholders of HEG Advanced Materials Limited (formerly HEG Limited) as of the Record Date will receive one fully paid-up equity share of face value Rs. 2 in the new graphite company for every one equity share held in HEG Advanced Materials Limited (a 1:1 entitlement). Additionally, under the amalgamation, HEG Advanced Materials Limited will issue eight equity shares of face value Rs. 2 each to existing shareholders of Bhilwara Energy Limited for every seven equity shares of face value Rs. 10 held in Bhilwara Energy Limited.
Leadership roles have also been adjusted. Mr. Ravi Jhunjhunwala will continue to lead the graphite company as Chairman, Managing Director, and Chief Executive Officer from September 1, 2026, and will serve on the board of HEG Advanced Materials Limited in a non-executive capacity. Mr. Riju Jhunjhunwala has been appointed as Chairman, Managing Director, and Chief Executive Officer of HEG Advanced Materials Limited for a five-year term, subject to shareholder approval, and will also be a non-executive board member of HEG Graphite Limited.
HEG Advanced Materials Ltd. is positioned as a platform focusing on advanced battery materials, graphene, battery energy solutions, and green power, leveraging HEG's extensive experience in graphitization and manufacturing.
A plain-language summary of a public exchange filing by HEG Limited. Read the original for the full detail.