HEG demerger scheme effective Sept 1, name change to HEG Advanced Materials

Demerger ratio announcedScheme filed with the NCLTCore business divestedStrategic Transactions View source PDF Explain this filing

HEG · price

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▲ 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

₹726.35

announcement price

After-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

-0.5

10m

-1.1

15m

-1.5

30m

-1.6

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

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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 Limited board confirms NCLT has sanctioned its Composite Scheme of Arrangement effective September 1, 2026, with record date September 7. The graphite business will demerge into HEG Graphite Limited at 1:1 ratio (1 HEG Graphite share for every 1 HEG share held). Bhilwara Energy Limited will merge into HEG at 8:7 ratio. Post scheme, HEG Limited will be renamed HEG Advanced Materials Limited and HEG Graphite Limited will take the HEG Limited name. Board reconstituted: Riju Jhunjhunwala becomes Chairman/MD/CEO of the new HEG Advanced Materials, while Ravi Jhunjhunwala moves to lead HEG Graphite.

Likely market impact

Shareholders on record date Sept 7 will receive 1 share of new HEG Graphite for each HEG share held. Watch for listing of HEG Graphite shares.