HEG demerger scheme gets NCLT nod; record date Sep 7

Demerger ratio announcedCore 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

NCLT has sanctioned HEG's Composite Scheme of Arrangement, effective Sep 1, 2026. The graphite business will demerge into HEG Graphite Ltd at a 1:1 share ratio. Bhilwara Energy will merge into HEG at 8 HEG shares for every 7 Bhilwara shares. Record date fixed Sep 7, 2026. Company will rename to HEG Advanced Materials Ltd. Board reconstituted with Riju Jhunjhunwala as new CMD.

Likely market impact

Shareholders get 1 HEG Graphite share per HEG share held. Bhilwara Energy holders get 8 HEG shares per 7. Note record date Sep 7.