HEG Limited has disclosed a strategic long-term partnership between INOXAP and its wholly owned subsidiary TACC Limited for nitrogen supply, as announced through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The agreement involves INOXAP building and operating a dedicated onsite nitrogen plant for TACC's greenfield manufacturing facility in Dewas, Madhya Pradesh.

Regulatory Disclosure Details

The disclosure was made through an official communication dated February 24, 2026, to both BSE Limited and National Stock Exchange of India Limited. The filing includes a comprehensive press release detailing the partnership between INOXAP and TACC Limited for advanced carbon materials manufacturing support.

Partnership Structure and Operations

INOXAP will establish the nitrogen supply infrastructure on a Build, Own and Operate basis, ensuring consistent, safe and high-purity nitrogen supply aligned with TACC's manufacturing requirements. The partnership specifically targets the production of lithium-ion battery-grade graphite anode material at TACC's upcoming facility.

Strategic Leadership Perspectives

According to Diganta Sarma, Head – Business Development & Strategy at INOX Air Products, the partnership reflects strong alignment of purpose, sustainability and ambition, reinforcing INOXAP's expertise in enabling production of high-performance materials critical to India's electric mobility and energy storage sectors. He emphasized that this long-term agreement reinforces their operational capabilities in building resilient, future-ready industrial value chains.

Ankur Khaitan, Managing Director & CEO of TACC, emphasized that manufacturing battery-grade graphite demands precision, purity and reliability, with the partnership ensuring dependable, high-purity nitrogen supply critical to achieving global standards at scale. The collaboration aims to strengthen India's advanced materials ecosystem and support the nation's clean energy and electric mobility ambitions.

Market Position and Future Outlook

TACC specializes in developing battery-grade synthetic graphite anode materials for electric vehicles and energy storage systems, while advancing graphene-based derivatives for applications across construction, textiles, paints and industrial sectors. INOXAP, established in 1963, operates with manufacturing capacity of over 6000 TPD of liquid gases delivered from more than 50 operating locations, serving over 1800 manufacturing organizations across various sectors.

HEG Limited has disclosed significant violations of insider trading regulations by three members of its promoter group, highlighting serious compliance breaches that occurred on December 30, 2025. The company filed a comprehensive report with stock exchanges on February 21, 2026, detailing unauthorized share transactions and subsequent corrective measures.

Violation Details and Involved Parties

The violations involved three promoter group members who conducted unauthorized trading activities on December 30, 2025. The company identified multiple compliance failures including trading without pre-clearance, contra trading, and non-disclosure of transactions.

Regulatory Compliance Failures

The company's investigation revealed systematic violations of SEBI's Prohibition of Insider Trading Regulations, 2015. All three individuals failed to obtain mandatory pre-clearance before executing their trades and did not disclose their transactions to the company within the stipulated timeframe. The violations were discovered through the company's internal monitoring systems and reported following a show cause notice dated January 16, 2026.

The promoter group members only submitted their trading disclosures in Form B on January 17, 2026, after receiving the show cause notice, significantly exceeding the required disclosure timeline under Regulation 7 of SEBI PIT Regulations.

Company's Corrective Actions

HEG Limited implemented comprehensive corrective measures following the discovery of these violations. The company mandated that all violators immediately sell their acquired shares and deposit the entire sale proceeds with SEBI. Additionally, the individuals were required to place HEG Limited's scrip on their brokers' restricted lists to prevent future unauthorized trading.

Financial Penalties and SEBI Deposits

The company ensured that significant financial penalties were imposed and collected from the violators. All penalty amounts were transferred to SEBI's designated account through online transactions on February 21, 2026.

Governance and Compliance Framework

The company emphasized that these corrective measures were implemented to ensure regulatory compliance, uphold corporate governance standards, and maintain market integrity. HEG Limited confirmed that no previous instances of similar violations had occurred since the last financial year, indicating that this represents an isolated but serious compliance breach.

The company's response demonstrates its commitment to maintaining strict adherence to insider trading regulations and implementing robust internal controls. The comprehensive nature of the corrective actions, including financial penalties and operational restrictions, reflects the seriousness with which the company treats regulatory compliance violations.