HEG scheme effective Sept 1; demerger ratio 1:1, board reconstitution done

Demerger ratio announcedCore business divestedScheme filed with the NCLTStrategic Transactions View source PDF Explain this filing

HEG · price

Loading chart…

▲ 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

—————

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 Board confirms Composite Scheme of Arrangement, already approved by NCLT Indore on Aug 13, to be effective Sept 1, 2026, with record date Sept 7. Two parts: (a) Demerger of graphite business into HEG Graphite Limited at 1 share for every 1 HEG share held; (b) Amalgamation of Bhilwara Energy into HEG at 8 HEG shares for every 7 Bhilwara Energy shares. Post scheme, HEG will be renamed HEG Advanced Materials Limited, and HEG Graphite will take the HEG Limited name. Several director and KMP changes were approved including Riju Jhunjhunwala elevated to Chairman and MD and CEO.

Likely market impact

Shareholders get 1 HEG Graphite share per HEG share. HEG will focus on non-graphite biz as HEG Advanced Materials. Bhilwara Energy merges in.