LNJ Spark Advisory LLP has reported an increase in its shareholding in HEG Advanced Materials Limited, formerly known as HEG Ltd. This change is a result of a composite scheme of arrangement. The overall shareholding of the promoter group, including LNJ Spark Advisory LLP, has increased from 56.28% to 60.72%. This disclosure is made as per SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Promoter Group Shareholding Update
LNJ Spark Advisory LLP, acting on behalf of the Promoter Group of HEG Advanced Materials Limited (formerly HEG Ltd.), has filed a report concerning an increase in shareholding. The disclosure, made under Regulation 10(6) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, highlights a shift in ownership following a composite scheme of arrangement.
Scheme of Arrangement Details
The increase in shareholding is attributed to the allotment of shares to LNJ Spark Advisory LLP by the target company, HEG Advanced Materials Limited. This allotment was made in accordance with a Composite Scheme of Arrangement involving HEG Limited (now HEG Advanced Materials Limited) as the Transferee Company, HEG Graphite Limited as the Resulting Company, and Bhilwara Energy Limited as the Transferor Company. The scheme was executed under Sections 230 to 232 of the Companies Act, 2013.
Shareholding Changes
Following the scheme, the overall shareholding of the Promoter Group, which includes LNJ Spark Advisory LLP and other related entities, has seen an increase. The collective shareholding has moved from 56.28% to 60.72%. The filing confirms that this increase is within the stipulated thresholds that require disclosure and that no open offer was triggered due to the acquisition being part of a court-approved scheme of arrangement.
Key Entities Involved
The report lists several entities as acquirers/transferees, including Ravi Jhunjhunwala, Rishabh Jhunjhunwala, Rita Jhunjhunwala, Riju Jhunjhunwala, Redrose Vanijya LLP, RSWM Limited, RLJ Family Trusteeship Pvt. Ltd, Norbury Investments Limited, Microlight Investments Ltd., and LNJ Spark Advisory LLP. The shareholding details before and after the transaction are provided in Annexure-1, detailing significant increases for several parties, most notably for Redrose Vanijya LLP and RSWM Ltd.
The disclosure was made on 17th September, 2026.
Source: BSE
