Archive · 19 Aug 2026
NCLT Approves HEG Demerger, Shareholders to Get 1:1 Shares
HEG received permission to split its businesses into two separate companies.
The approval came from the National Company Law Tribunal.
People who own HEG shares are expected to receive one share in HEG Graphite for each share they already own.
HEG Graphite will continue making graphite electrodes.
The other HEG company will work on advanced materials, batteries, renewable energy and storage.
The companies had already received approvals from their boards, shareholders and creditors.
HEG says the split could give investors clearer exposure to two different types of businesses.
HEG’s share price has risen significantly since May 2023.
The National Company Law Tribunal approved HEG’s Composite Scheme of Arrangement with HEG Graphite and Bhilwara Energy.
The demerger will create two independently listed companies, with HEG shareholders receiving one HEG Graphite share for every HEG share held.
HEG Graphite will focus on graphite electrodes, while HEG will focus on advanced materials, battery solutions, renewable power and storage.
The scheme had already received board, shareholder, creditor and BSE and NSE approvals or no-objection letters.
HEG shares have gained 284% since May 2023, reaching ₹708, while retail investors held a 26% stake as of the June-ended quarter.
- Who
- HEG Limited, HEG Graphite, Bhilwara Energy Limited and HEG shareholders.
- What
- The National Company Law Tribunal approved a demerger scheme that will create two independently listed companies.
- When
- The approval was announced on Wednesday; the article does not provide a calendar date.
- Where
- The approval was issued by the National Company Law Tribunal in India.
- Why
- The restructuring is intended to separate HEG’s mature graphite-electrode business from its advanced-materials and energy-focused growth businesses.
- Regulator approval
- The National Company Law Tribunal approved the Composite Scheme of Arrangement.
- Share exchange ratio
- HEG shareholders will receive one HEG Graphite share for every one HEG share held.
- Result of demerger
- Two independently listed companies will be created.
- HEG Graphite business
- Graphite electrodes, including the single largest plant of its kind in the world, according to the company.
- HEG business
- Advanced materials supported by green power and CNI-based solutions.
- Share-price performance
- HEG shares had gained 284% since May 2023 and reached ₹708 per share.
- Retail ownership
- Retail shareholders held a 26% stake as of the June-ended quarter, according to Trendlyne data.