HEG shares will undergo a crucial demerger process today, with the company set to split its graphite electrode business into a separate entity. Ahead of the demerger record date today, HEG Limited has already been renamed as “HEG Advanced Materials Limited” with effect from 2 September 2026.
The HEG demerger scheme will result into a separate entity - HEG Graphite Limited - which will run the graphite electrodes business. It 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 has been renamed HEG Advanced Materials Limited.
What Will Shareholders Receive?
HEG demerger record date to determine eligibility of shareholders is fixed as September 7.
HEG demerger ratio is 1:1. Hence, HEG Advanced Materials Ltd (formerly HEG Ltd) shareholders as on the record date today, 7 September 2026, will receive one fully paid-up equity share of face value Rs 2 each in the graphite company for every one fully paid-up equity share of face value Rs 2 each held in HEG Advanced Materials, a one-for-one (1:1) entitlement on a mirror basis.
Under the amalgamation, HEG Advanced Materials Limited (formerly HEG Limited) will issue eight equity shares of face value Rs 2 each to existing shareholders of Bhilwara Energy Limited (except to the HEG Advanced Materials Limited (formerly HEG Limited)) for every seven equity shares of face value Rs 10 each held in Bhilwara Energy Limited.
On the HEG demerger record date today, the stock price of HEG Advanced Materials Ltd (formerly HEG Ltd) will adjust to the price of demerged entity. HEG Advanced Materials shares will trade ex-demerger price from today.
HEG Graphite is expected to be listed on the stock exchanges in the second half of October 2026. After listing, HEG Graphite Ltd is proposed to become HEG Ltd.
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.
Meanwhile, 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
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