HEG Ltd: Ravi Jhunjhunwala Group Disclosure Under Takeover Regulations

HEG Ltd has filed a disclosure under SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011, concerning an acquisition by Ravi Jhunjhunwala and associated entities. This acquisition is part of a Composite Scheme of Arrangement involving HEG Limited (renamed HEG Advanced Materials Limited), HEG Graphite Limited, and Bhilwara Energy Limited. The exemption from making an open offer is under Regulation 10(1)(d)(ii) due to the acquisition being pursuant to a court/tribunal-approved scheme of arrangement. The promoter/promoter group's overall shareholding increased from 56.28% to 60.72% following the allotment of shares.