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HEG Receives NSE and BSE Approval for Composite Scheme of Arrangement
HEG Limited has reached a significant regulatory milestone by receiving 'Observation Letters' from both BSE and NSE regarding its proposed Composite Scheme of Arrangement. This scheme involves HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited, following the initial board approval granted on March 10, 2025. The receipt of these letters allows the company to move forward with the legal process of restructuring. HEG will now proceed to file the scheme with the National Company Law Tribunal (NCLT) for final sanction and implementation.
Key Highlights
BSE and NSE issued their respective Observation Letters on January 8th and 9th, 2026.
The scheme involves a composite arrangement between HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited.
The company will now move to the next phase by filing the scheme with the Hon’ble National Company Law Tribunal (NCLT).
This progress follows the original board decision for the arrangement made on March 10, 2025.
💼 Action for Investors
Investors should monitor the NCLT approval timeline as the next major milestone for this corporate restructuring, which could impact the company's future capital structure.
HEG Receives Stock Exchange Approval for Composite Scheme of Arrangement
HEG Limited has reached a significant regulatory milestone by receiving Observation Letters from both BSE and NSE regarding its proposed Composite Scheme of Arrangement. This scheme involves HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited, following the initial board approval on March 10, 2025. With these clearances from the stock exchanges, the company is now set to file the scheme with the National Company Law Tribunal (NCLT) for final approval. This restructuring is part of the company's long-term strategy to streamline its business entities and energy holdings.
Key Highlights
Received Observation Letters from BSE on January 8, 2026, and NSE on January 9, 2026
Scheme involves merger/restructuring of HEG Limited, HEG Graphite Limited, and Bhilwara Energy Limited
Company will now proceed with filing the scheme with the Hon’ble National Company Law Tribunal (NCLT)
The process follows the initial Board of Directors approval granted on March 10, 2025
💼 Action for Investors
Investors should view this as a positive step toward corporate restructuring and should monitor future NCLT hearing dates for final implementation timelines. No immediate portfolio changes are required, but the progress indicates the deal is on track.
HEG Associate Bhilwara Energy to Acquire 76 MW Hydro Project in Uttarakhand
Bhilwara Energy Limited (BEL), an associate company of HEG Limited, has signed a Share Purchase Agreement to acquire a 100% stake in Mandakini Jal Urja Private Limited. This acquisition includes the 76 MW Phata Byung Hydroelectric Project in Uttarakhand, which is currently under construction. The deal marks BEL's entry into the Uttarakhand power sector and will increase its total hydro capacity to 375 MW. The stake is being acquired from Statkraft IH Holding AS as part of their international portfolio streamlining.
Key Highlights
Acquisition of 100% equity shares of Mandakini Jal Urja Private Limited from Statkraft.
Includes the 76 MW Phata Byung Hydroelectric Project located in Rudraprayag, Uttarakhand.
Total hydropower capacity of Bhilwara Energy Limited to increase to 375 MW.
Strategic entry into Uttarakhand's renewable energy market for the LNJ Bhilwara Group.
💼 Action for Investors
Investors should note this as a positive expansion of HEG's associate company into the renewable energy space. While HEG's core business is graphite electrodes, the growth of its power-sector associate adds long-term value to its consolidated portfolio.