NCLT reserves order on HEG composite scheme of arrangement

Nclt Scheme FiledStrategic Transactions View source PDF Explain this filing

HEG · price

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Price reactionminutes from the announcement price · days from the prior close

-0.0%Reaction day

₹522.00

prior close

₹522.10

announcement price

In-mkt

timing

Nifty Smallcap 250market+1.0%-1.0% vs market

Electrodes & Refractories peers, median of 10sector+1.8%-1.8% vs sector

On the reaction day the stock moved 1.0 pts less than Nifty Smallcap 250 and 1.8 pts less than its Electrodes & Refractories peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

-0.0+1.0-1.0+1.8-1.8

Next day

+0.9+1.1-0.2+0.5+0.4

+4.3+1.6+2.7+1.3+3.0

+1.7+0.9+0.9-0.6+2.3

+0.6-1.1+1.7+0.4+0.2

-1.2+0.4-1.6+1.5-2.7

+10.4+2.1+8.3+2.6+7.8

15d

+19.2-0.8+20.0+1.2+18.0

+27.6+2.1+25.5+1.5+26.1

+35.0+2.6+32.5+3.0+32.0

-55.4-0.8-54.5-0.5-54.9

UpDownMarket · Nifty Smallcap 250Sector · Electrodes & Refractories peers, median of 10Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

NCLT Indore Bench has reserved its order on HEG's Composite Scheme of Arrangement involving HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited. HEG acts as demerged and transferee company, HEG Graphite as resulting company, and BEL as transferor. The order was reserved during the hearing on July 2, 2026, under Company Scheme Petition No. C.P.(CAA)/3/MP/2026. HEG will inform exchanges once the order is pronounced and uploaded on the NCLT website. The scheme was first intimated on March 10, 2025.

Likely market impact

NCLT order reserved means final approval is pending. Outcome will clarify the demerger and transfer structure, affecting shareholdings and business shape.