HEG Limited announces plans to list new companies by January 26 and incorporate a subsidiary, Bhilwara Energy. The company has raised ₹500 crore to support a ₹3000 crore capital expenditure plan, signaling significant growth and expansion strategies. These moves suggest potential diversification and strengthening of HEG's market position in the graphite electrode and energy sectors.
10Mar 25
HEG's Subsidiary Bhilwara Energy Secures ₹250 Crore Investment and Approves Modified Composite Scheme
HEG Limited has approved several significant developments: 1) Singularity Growth Opportunities Fund II will invest ₹250 crore in subsidiary Bhilwara Energy Limited (BEL) for a 9.6% stake. 2) BEL approved a fund raise of up to ₹500 crore for the HEG Greentech platform. 3) HEG's board approved a modified composite scheme involving demerger of its graphite business and amalgamation with HEG Graphite and BEL. HEG's ownership in BEL will decrease from 49.01% to 44.30% post-investment. The agreement includes governance provisions and shareholder rights for Singularity.