HEG to Demerge Graphite Business, Merges Bhilwara Energy with Itself

Graphite electrode manufacturer HEG on Wednesday, May 22 approved the demerger of its graphite business into a new company and merged Bhilwara Energy with itself, to unlock value for shareholders.

 

Key Takeaways from the Merger and Demerger:

  • HEG approved the demerger of its graphite business.
  • HEG has merged Bhilwara Energy with itself.
  • The move intends to unlock value for shareholders.

 

HEG will be turned into a platform for green energy businesses, hydro and wind energy, advanced carbon business and some other opportunities in the new age businesses. 

 

Further, the equity shares of the resulting company will be listed on both the BSE and the NSE.

 

Ravi Jhunjhunwala, Chairman and Managing Director, and CEO of HEG said, "The existing company and the new company will script new paths as two independent, publicly listed companies”.

 

“The underlying growth drivers, risk profile and capital allocation requirements are fundamentally different in the Graphite business compared to the green energy business," Jhunjhunwala added.

 

About HEG Limited:

HEG Limited is a premier company of the LNJ Bhilwara group. It is India’s leading graphite electrode manufacturer and one of the largest integrated Graphite Electrode plants in the world, processing ultra-high power electrodes. The company has exported over 70% of its production to more than 30 countries across the world. 

 

Read More About HEG Limited Share Price Here!

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