HEG Limited has informed the Exchange about Disclosure of details of agreements executed by its non-material wholly owned subsidiary under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("SEBI Listing Regulations") in which HEG Limited is not a party.
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Awaiting price reaction for this filing.
HEG's wholly owned subsidiary Bhilwara Infotechnology Limited (BIL) is selling its 'Infotech Division' (manpower staffing operations) to Texnere India Private Limited (also a wholly owned subsidiary of BIL) via a slump sale for Rs. 5.59 crores, based on an independent registered valuer's report. Separately, Texnere will issue 9.9 lakh fresh equity shares of Rs. 10 each at a Rs. 53 premium to external investors and BIL through a private placement. After the allotment, BIL's stake in Texnere will drop to 26%, meaning Texnere will cease to be a subsidiary of BIL and HEG. HEG Limited is not a party to either agreement, and both are effective from June 1, 2025.
Minimal direct impact on HEG shareholders - these are transactions at the subsidiary level involving a non-core staffing business, not HEG's main graphite electrode operations. The group structure simplifies as Texnere steps out of the subsidiary chain, but no change in HEG's management, control, or listed-entity financials.