HEG Limited has informed the Exchange regarding a press release which is being issued by TACC Limited, a Wholly Owned Subsidiary, titled " TACC Limited Secures ₹1,230 Crore Credit Facility from State Bank of India for Lithium-ion Battery Grade Graphite Anode Facility ".
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Awaiting price reaction for this filing.
HEG Limited's wholly-owned subsidiary TACC Limited has secured a ₹1,230 crore credit facility from the State Bank of India. The funds will be used to build a Lithium-ion Battery Grade Graphite Anode Facility, marking a major capex commitment by the subsidiary into the EV battery materials space. HEG, traditionally a graphite electrode maker, is using TACC to expand into battery-grade graphite used in lithium-ion cells. This represents a significant greenfield investment push by the group.
Positive for long-term growth as it positions the HEG group in the fast-growing EV battery materials segment, though the large debt raise will increase subsidiary-level leverage and bring execution risk on the new plant.