HEG Limited has officially been renamed HEG Advanced Materials Limited, effective September 2, 2026, following a composite scheme of arrangement. This restructuring involves demerging its graphite electrodes business into a separate entity, HEG Graphite Limited, which will be relisted. The company also amalgamated Bhilwara Energy Limited, expanding its focus on advanced materials, battery energy solutions, and green power.
HEG Limited Renamed HEG Advanced Materials Limited
HEG Limited has officially been renamed HEG Advanced Materials Limited, with the change taking effect from September 2, 2026. This significant corporate transformation follows the issuance of a fresh Certificate of Incorporation by the Registrar of Companies, Gwalior, Madhya Pradesh. The name change is a crucial step in the company’s composite scheme of arrangement, which was sanctioned by the National Company Law Tribunal, Indore Bench, on August 13, 2026, and became effective on September 1, 2026.
Composite Scheme of Arrangement Detailed
The composite scheme of arrangement marks a strategic reorganisation, splitting HEG’s operations into two distinct, independently listed entities. The graphite electrodes business has been demerged into a separate company, HEG Graphite Limited, which is proposed to be renamed as HEG Limited. This new entity is expected to be listed on the BSE and NSE in the second half of October 2026, approximately 45 days after the record date of September 7, 2026. This move aims to provide each business segment with a focused management and independent growth trajectory.
HEG Advanced Materials Focus and Amalgamation
The existing listed entity, now HEG Advanced Materials Limited, will retain and focus on advanced materials, battery energy solutions, and green power businesses. As part of the same scheme, Bhilwara Energy Limited has been amalgamated into HEG Advanced Materials Limited and stands dissolved without winding up. This amalgamation further consolidates HEG Advanced Materials’ position in its core growth areas.
Shareholder Entitlements Outlined
Shareholders of HEG Advanced Materials Limited (formerly HEG Limited) as on the record date of September 7, 2026, will receive one fully paid-up equity share of face value Rs. 2 each in HEG Graphite Limited for every one equity share of face value Rs. 2 each held in HEG Advanced Materials Limited, representing a 1:1 entitlement.
Under the amalgamation, HEG Advanced Materials Limited will issue eight equity shares of face value Rs. 2 each to existing shareholders of Bhilwara Energy Limited for every seven equity shares of face value Rs. 10 each held in Bhilwara Energy Limited.
Leadership Appointments
In line with the restructuring, Mr. Ravi Jhunjhunwala will continue to lead the graphite company as Chairman, Managing Director, and Chief Executive Officer from September 1, 2026, and will serve on the board of HEG Advanced Materials Limited in a non-executive capacity. Mr. Riju Jhunjhunwala has been elevated to Chairman, Managing Director, and Chief Executive Officer of HEG Advanced Materials Limited for a five-year term, subject to shareholder approval, and will also be on the Board of HEG Graphite Limited in a non-executive capacity.
About HEG Advanced Materials Limited
HEG Advanced Materials Ltd. is positioned as a new-age platform focused on advanced battery materials and graphene. Leveraging over 50 years of expertise in graphitization and manufacturing, the company is developing a large-scale anode materials business, alongside graphene and future material development, including silicon-based anodes. Its operations encompass research, product development, and commercialization for the evolving EV, BESS, and energy-storage ecosystem.
Source: BSE
