Archive · 7 Sep 2026
HEG Demerger Begins With One-to-One Share Ratio
HEG is splitting its businesses into two companies.
Its graphite electrode business will become a separate company called HEG Graphite Limited.
Shareholders recorded on September 7, 2026, will receive one share in the new company for every share they own in HEG Advanced Materials.
This is called a one-to-one, or 1:1, demerger ratio.
HEG Graphite is expected to be listed on stock exchanges in the second half of October 2026.
The remaining company will focus on advanced materials, battery energy solutions and green power.
Its share price will be adjusted because part of the business is moving to the new company.
Ravi Jhunjhunwala will lead HEG Graphite, while Riju Jhunjhunwala is set to lead HEG Advanced Materials, subject to shareholder approval.
HEG’s graphite electrode business is being separated into HEG Graphite Limited, while HEG Advanced Materials Limited will retain advanced materials, battery energy solutions and green power businesses.
September 7, 2026, is the record date; eligible shareholders will receive one ₹2 share of HEG Graphite for every one ₹2 share held in HEG Advanced Materials.
HEG Graphite is expected to be listed on stock exchanges in the second half of October 2026 and is proposed to be renamed HEG Limited.
HEG Advanced Materials’ share price will be adjusted after the demerger and will trade on an ex-demerger basis from September 7.
HEG shares closed 0.38% lower at ₹725.50 on NSE on Friday, with a market capitalisation of ₹11,579 crore as of September 4.
- Who
- HEG shareholders, HEG Graphite Limited, HEG Advanced Materials Limited, Ravi Jhunjhunwala and Riju Jhunjhunwala.
- What
- HEG is demerging its graphite electrode business into a separate company through a 1:1 share distribution.
- When
- The record date is September 7, 2026; listing is expected in the second half of October 2026.
- Where
- The companies are expected to be listed on stock exchanges; HEG shares closed at ₹725.50 on the NSE.
- Why
- To separate the graphite electrode business from the advanced materials, battery energy solutions and green power businesses.
- Record date
- September 7, 2026
- Demerger ratio
- One ₹2 HEG Graphite share for every one ₹2 HEG Advanced Materials share
- Expected listing
- Second half of October 2026
- Friday closing price
- ₹725.50 per share on the NSE, down 0.38%
- Market capitalisation
- ₹11,579 crore as of September 4
- Graphite company
- HEG Graphite Limited, proposed to be renamed HEG Limited
- Advanced materials company
- HEG Advanced Materials Limited will retain advanced materials, battery energy solutions and green power businesses