HEG Limited announced that BSE and NSE have issued observation letters for its composite scheme of arrangement involving HEG, HEG Graphite, and Bhilwara Energy. The company will comply with conditions in the letters and proceed to file the scheme with the National Company Law Tribunal under Sections 230–232 of the Companies Act.
HEG Limited said BSE and NSE have issued their observation letters for the proposed composite scheme of arrangement amongst HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited. The company will address the conditions cited by the exchanges and move to file the scheme with the National Company Law Tribunal (NCLT).
The scheme, previously approved by HEG’s Board and disclosed in 2024–2025 updates, consolidates and re-aligns businesses within the group, including graphite electrodes and power assets, under Sections 230–232 of the Companies Act, 2013. This restructuring aims to streamline operations, unlock synergies, and optimize corporate architecture for long-term growth and governance.
Key highlights
-
Observation letters received: BSE and NSE have issued letters for the composite scheme of arrangement.
-
Next step: HEG will comply with conditions and file the scheme with NCLT.
-
Scheme scope: Involves HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited; covers shareholders and creditors under Sections 230–232.
-
Strategic rationale: Streamlining electrodes and power businesses to enhance efficiency and scale.
-
Board approvals: Prior board-level clearance and public disclosures reaffirm intent and timeline.
Sources: HEG Limited exchange updates and scheme documents; InvestyWise company update