HEG Limited has informed the Exchange regarding a press release dated Jun 18, 2025, titled "Press Release issued by Bhilwara Infotechnology Limited (Wholly Owned Subsidiary) of the Company."
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HEG's wholly-owned subsidiary, Bhilwara Infotechnology Limited (BIL), has announced the spin-off of its talent solutions (staffing) business into a newly formed company called Texnere India Pvt. Ltd. The move is aimed at accelerating AI-driven hiring innovation and capturing growing demand from India's IT sector and the Global Capability Center (GCC) ecosystem. Texnere will initially offer permanent hiring and contract-to-hire services, with plans to expand into managed services and Build-Operate-Transfer (BOT) offerings over the next 6–12 months. The new entity will start in India and target expansion into the USA and UAE, serving IT services, technology firms, and GCCs. BIL is part of the LNJ Bhilwara Group, a diversified conglomerate with USD 1.2 billion in annual revenue across graphite electrodes, power, textiles, and IT-enabled services.
This is a subsidiary-level restructuring and does not directly affect HEG's core business of graphite electrodes. Shareholders are unlikely to see an immediate impact on HEG's financials, but it signals the group's effort to sharpen focus and scale its staffing arm through a tech-led, independent brand.