HEG has approved the demerger of its graphite business into a new company, and the merger of Bhilwara Energy Limited (‘BEL’) with itself to unlock value for shareholders.
"The existing company and the new company will script new paths as two independent, publicly listed companies," said Ravi Jhunjhunwala, Chairman and Managing Director, CEO of HEG.
“The underlying growth drivers, risk profile and capital allocation requirements are fundamentally different in the Graphite business compared to the green energy business” Jhunjhunwala said.