HEG fixes September 7 as record date for demeger

HEG’s graphite electrodes business will move into HEG Graphite, which will subsequently be renamed HEG Ltd and taken forward as a separately listed, pure-play graphite electrodes company

HEG Ltd, a manufacturer of graphite electrodes, completed the final operational steps of its proposed demerger that will create two independent listed entities. The LNJ Bhilwara Group company has set September 7 as record date for determining the shareholders eligible to receive consideration under the demerger scheme.

Shareholders of HEG as on the record date will receive one fully paid-up equity share of face value ₹2 in the resulting company for every one equity share of face value ₹2 held in HEG, a 1:1 entitlement.

As part of the same scheme, Bhilwara Energy will be amalgamated with HEG, with HEG issuing eight equity shares of face value ₹2 for every seven equity shares of face value ₹10 held in Bhilwara Energy.

HEG’s graphite electrodes business will move into HEG Graphite, which will subsequently be renamed HEG Ltd and taken forward as a separately listed, pure-play graphite electrodes company.

Retained businesses

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.

Ravi Jhunjhunwala will lead HEG Graphite as Chairman, Managing Director and Chief Executive Officer with effect from September 1. He will also continue on the board of HEG Advanced Materials.

Similarly, Riju Jhunjhunwala will be the Chairman, MD & CEO of HEG Advanced Materials for a five-year term.

Ravi Jhunjhunwala, Chairman & Managing Director, HEG said under the new leadership HEG Advanced Materials will scale into a differentiated, globally competitive business and create enduring value for all its stakeholders.

Riju Jhunjhunwala, Chairman, MD & CEO of HEG Advanced Materials said the company will be uilding on more than five decades of expertise in carbon science, graphitisation, and industrial manufacturing to create advanced materials capabilities from India for global markets.

The immediate focus includes scaling synthetic graphite anode material, where the company has been developing commercial-scale manufacturing capability, while continuing to advance graphene and its applications across industries,” he said.

Five non-executive independent directors have also been appointed to the board of HEG Advanced Materials Ltd.

Published on August 25, 2026