HEG Limited has announced the successful completion of its Composite Scheme of Arrangement, effective September 1, 2026. Following this, the company’s name is proposed to change to HEG Advanced Materials Limited. Subsequently, HEG Graphite Limited will be renamed to HEG Limited. This strategic move aligns with the company’s evolving business focus and structural changes stemming from the sanctioned scheme.
Scheme of Arrangement Sanctioned and Effective
HEG Limited announced today, August 24, 2026, the outcome of its Board Meeting. The Board has approved making the Composite Scheme of Arrangement effective from Tuesday, September 01, 2026. This scheme, sanctioned by the National Company Law Tribunal, Indore Bench on August 13, 2026, involves the demerger of an undertaking from HEG Limited into HEG Graphite Limited (the ‘Resulting Company’) and the amalgamation of Bhilwara Energy Limited (the ‘Transferor Company’) with HEG Limited.
Key Considerations and Share Exchange Ratios
As part of the scheme, for every 1 equity share of HEG Limited held on the Record Date (September 7, 2026), shareholders will receive 1 fully paid-up equity share of INR 2 in the Resulting Company. For the amalgamation, shareholders of the Transferor Company will receive 8 fully paid-up equity shares of INR 2 each of HEG Limited for every 7 equity shares of INR 10 each of the Transferor Company.
Company Name Changes
Following the effectiveness of the scheme and subject to approvals from the Registrar of Companies, the name of HEG Limited is proposed to be changed to HEG Advanced Materials Limited. Subsequently, HEG Graphite Limited is proposed to be renamed as HEG Limited. These changes reflect the company’s strategic evolution.
Board and Committee Reconstitutions
The Board of Directors has approved the reconstitution of various committees, including the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee, effective September 01, 2026. Several directors have resigned to facilitate the proposed reconstitution of the Board following the effectiveness of the scheme. Key Managerial Personnel have also been authorized to determine the materiality of events or information.
Source: BSE
