HEG board reconstitution as composite demerger-merger scheme effective Sep 1

Ceo ResignedCfo ResignedMultiple Ind Directors ResignedPromoter Family Board EntryKmp ResignedManagement Changes View source PDF Explain this filing

HEG · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-0.1%Reaction day

₹721.65

prior close

₹718.55

announcement price

In-mkt

timing

Nifty Smallcap 250market-0.2%+0.0% vs market

Electrodes & Refractories peers, median of 9sector-1.3%+1.2% vs sector

On the reaction day the stock moved in line with Nifty Smallcap 250 and 1.2 pts more than its Electrodes & Refractories peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.1

10m

-0.2

15m

+0.3

30m

+0.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.1-0.2+0.0-1.3+1.2

Next day

-0.9+0.4-1.4-1.4+0.5

-1.3+0.3-1.6-0.2-1.1

+2.3+0.7+1.7+0.6+1.8

+1.2-0.0+1.2-0.8+1.9

+0.9-0.1+0.9-1.5+2.4

-1.8+0.4-2.2-0.7-1.1

15d

-70.0-2.8-67.2-4.0-66.0

-66.1-1.2-64.9+1.5-67.5

-71.6-9.8-61.8-10.8-60.9

—————

UpDownMarket · Nifty Smallcap 250Sector · Electrodes & Refractories peers, median of 9Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

HEG's Composite Scheme (demerger of graphite biz into HEG Graphite and amalgamation of Bhilwara Energy into HEG) becomes effective Sep 1, 2026. Record date Sep 7. Swap ratios: 1:1 for demerger; 8 HEG shares for every 7 Bhilwara Energy shares. Board reconstituted: Ravi Jhunjhunwala steps down as CMD-CEO, son Riju elevated to CMD-CEO. CFO and CS transfer to HEG Graphite; Neha Rajvanshi named new CFO, Ravi Gupta new CS. 4 Independent Directors resigned, 7 new directors appointed. Firm to rename as HEG Advanced Materials Limited.

Likely market impact

Promoter family leadership transition as Ravi Jhunjhunwala hands CEO role to son Riju. HEG shareholders to receive HEG Graphite shares; expanded entity post Bhilwara Energy merger.