HEG name change to Advanced Materials: 2026 key dates

What has changed and why it matters

HEG Limited has officially announced a change in its corporate name to HEG Advanced Materials Limited, effective September 2, 2026. The change follows the issuance of a fresh Certificate of Incorporation by the Registrar of Companies (ROC), Gwalior. The development is linked to a broader corporate restructuring under a composite scheme of arrangement sanctioned by the National Company Law Tribunal (NCLT), Indore Bench. For investors, the update is not only a rebranding event but also a marker that the demerger-led reorganisation is moving through its final steps.

The legal approvals behind the decision

The name change is a consequence of a composite scheme of arrangement that was sanctioned by the NCLT Indore Bench. The tribunal approved the plan via an order dated August 13, 2026. Under the same framework, HEG is separating its core graphite electrode operations from its clean energy and advanced materials verticals. The company has linked the effectiveness of the actions to statutory filings and approvals, including the role of the ROC in issuing the fresh incorporation certificate.

Composite scheme becomes effective from September 1, 2026

HEG’s composite scheme of demerger and amalgamation became effective on September 1, 2026. The board had approved Tuesday, September 1, 2026, as the Effective Date for implementing the scheme. The scheme involves the demerger of an undertaking from HEG Limited into HEG Graphite Limited (the resulting company). It also includes the amalgamation of Bhilwara Energy Limited (BEL) with HEG Limited, as outlined in the scheme details provided.

Demerger structure: two separately listed, pure-play entities

Post-restructuring, the plan is to create two separate listed businesses aligned to distinct operating themes. The graphite electrodes business will move into HEG Graphite Limited, which is proposed to be later renamed HEG Limited and run as a pure-play graphite electrodes company. The existing listed entity will retain the advanced materials, battery energy solutions, and green power businesses and has now taken the name HEG Advanced Materials Limited. The retained entity’s focus areas are described as synthetic graphite anode materials, graphene, and green power.

Record date and who is eligible for the share entitlement

HEG has fixed Monday, September 7, 2026, as the Record Date to determine shareholder entitlement under the scheme. Only shareholders who hold HEG shares in their demat accounts as on the record date will be eligible to receive shares in the resulting company as part of the demerger. The company has also explained that the share price of the existing HEG shares is expected to adjust to reflect the demerger, which implies the post-event price may be lower than pre-event levels due to value being split across two listed vehicles.

Share entitlement ratios: 1:1 for demerger, 8:7 for BEL amalgamation

Under the demerger, the entitlement ratio has been fixed at 1:1. This means shareholders of HEG will receive one fully paid-up equity share of face value ₹2 in HEG Graphite Limited for every one equity share of face value ₹2 held in HEG Limited on the record date. The scheme also specifies an amalgamation ratio for Bhilwara Energy Limited: shareholders of the transferor company will receive 8 fully paid-up equity shares of ₹2 each of HEG Limited for every 7 equity shares of ₹10 each held in BEL.

Leadership changes announced alongside the restructuring

The restructuring also comes with leadership updates. Ravi Jhunjhunwala will be the Chairman, Managing Director and Chief Executive Officer of HEG Graphite Limited with effect from September 1, 2026. Separately, Riju Jhunjhunwala has been elevated to Chairman, Managing Director and Chief Executive Officer of HEG Advanced Materials Limited for a five-year term, subject to shareholder approval, according to the details shared.

Listing details and the stock reference points investors track

HEG is listed on both Indian exchanges: BSE Limited (Scrip Code: 509631) and the National Stock Exchange of India Limited (Symbol: HEG). The sector classification provided is Electrodes & Welding Equipment. The article data also cites a current share price for HEG of ₹737.35. These identifiers matter because investors tracking corporate actions and record dates typically verify holdings using the exact NSE symbol and BSE code.

Key facts at a glance

Market impact: what changes for shareholders and trading prices

From a shareholder perspective, the main mechanical outcome is the 1:1 entitlement into the resulting graphite entity for investors holding shares on the September 7, 2026 record date. The company has also noted that the existing share price will adjust after the demerger because part of the business is being separated into another listed vehicle. Practically, this means the value that was previously reflected in a single listed stock is expected to be represented across two listed companies once the process is completed. The name change to HEG Advanced Materials Limited also signals how management wants the continuing entity to be understood in the market, with a stated focus on advanced materials and green power.

Conclusion

HEG’s renaming to HEG Advanced Materials Limited from September 2, 2026 formalises a key step in its composite scheme implementation, following the NCLT’s August 13, 2026 order and the scheme’s September 1, 2026 effective date. Investors’ next key reference point is the September 7, 2026 record date, which determines who receives shares in HEG Graphite Limited under the 1:1 demerger entitlement. Further statutory processes will govern the concurrent plan to rename the graphite entity as HEG Limited under the same restructuring framework.