HEG Limited announced the sanctioning of its Composite Scheme of Arrangement by the National Company Law Tribunal on August 13, 2026. The scheme involves HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited. The Board of Directors has approved the scheme’s effectiveness for September 1, 2026, and set September 7, 2026, as the record date. Significant board and committee realignments are also underway.
Scheme of Arrangement Effective September 1
HEG Limited has announced that its Composite Scheme of Arrangement, involving HEG Graphite Limited (as the Resulting Company) and Bhilwara Energy Limited (as the Transferor Company), has been sanctioned by the National Company Law Tribunal, Indore Bench, on August 13, 2026. The Board of Directors, at a meeting held on August 24, 2026, has approved making the Scheme effective from Tuesday, September 1, 2026 (the “Effective Date”). The company has also fixed Monday, September 7, 2026, as the Record Date for determining shareholders eligible for consideration under the scheme.
Shareholder Consideration
Under the Scheme, for every 1 (One) equity share of HEG Limited, shareholders will receive 1 (One) fully paid-up equity share of the Resulting Company (HEG Graphite Limited) with a face value of INR 2 each. For the amalgamation of the Transferor Company (Bhilwara Energy Limited), shareholders will receive 8 (Eight) fully paid-up equity shares of INR 2 each of HEG Limited for every 7 (Seven) equity shares of INR 10 each of the Transferor Company.
Board and Committee Reconstitution
Following the effectiveness of the Scheme, the Board has approved several changes in directorships and Key Managerial Personnel (KMP) to ensure business continuity, particularly for the Graphite Business. Key changes include the cessation and appointment of Directors and other senior management roles, effective from September 1, 2026. The company also announced the reconstitution of its Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, Risk Management Committee, and Corporate Social Responsibility & ESG Committee, effective from the same date.
Company Name Changes Proposed
Pursuant to the Scheme and subject to approvals from the Registrar of Companies and other statutory authorities, 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”. This extensive restructuring aims to streamline operations and align with the company’s strategic objectives.
Source: BSE
