HEG Ltd has fixed the record date for its proposed demerger which will result in the separation of its graphite electrode business into a separate entity.
The company, one of the world's leading manufacturers of graphite electrodes, has received the approval for its composite scheme of arrangement.
Under the HEG demerger scheme, the company's graphite electrodes business will move into the resulting company, HEG Graphite Limited, which is proposed to be renamed HEG Limited and taken forward as a separately listed, pure-play graphite electrodes company.
The existing listed entity will retain the advanced materials, battery energy solutions and green power businesses and is proposed to be renamed HEG Advanced Materials Limited.
Both name changes are subject to the approval of the Registrar of Companies and other statutory authorities, HEG said in a release.
HEG Demerger Record Date
HEG has fixed September 7 as the record date to determine eligibility of shareholders for its demerger.
“The Board of Directors of HEG has approved Tuesday, September 1, 2026, as the Effective Date and Monday, September 7, 2026, as the Record Date for shareholder entitlement,” HEG said.
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HEG Demerger: What it means for shareholders?
Under the demerger, HEG shareholders as on the Record Date will receive one fully paid-up equity share of face value Rs 2 in the resulting company for every one equity share of face value Rs 2 held in the company.
As part of the same Scheme, Bhilwara Energy Limited will be amalgamated into HEG, with HEG issuing eight equity shares of face value Rs 2 for every seven equity shares of face value Rs 10 held in Bhilwara Energy Limited.
Management Reshuffle
Ravi Jhunjhunwala will be the Chairman, Managing Director and Chief Executive Officer of HEG Graphite Limited with effect from September 1, 2026. He will also continue on the board of HEG Advanced Materials Ltd.
Riju Jhunjhunwala has been elevated to the positions of Chairman, Managing Director, and Chief Executive Officer of HEG Advanced Materials Ltd. for a five-year term, subject to shareholder approval.
At 11:55 AM, HEG share price was trading 2.55% lower at Rs 702.25 apiece on the BSE.
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