# NCLT approves HEG demerger into two listed companies 2026-08-19T23:32:38+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 2 independent outlets HEG Ltd has received NCLT approval for its demerger into two independent companies: HEG Graphite Ltd and HEG Ltd. Shareholders will get one share of HEG Graphite for each HEG share they hold. The NCLT Indore Bench order was uploaded on August 18, 2026. The scheme will become effective after the certified copy is filed with the Registrar of Companies. Both Livemint and NDTV Profit report the approval following board, shareholder, and stock exchange clearances. HEG Graphite will house the world's largest graphite electrode plant, while the continuing HEG Ltd will focus on advanced materials, battery energy, and renewable power. Shares of HEG closed at Rs 232.60 on Wednesday, down 4.28%. The demerger aims to create separately valued businesses with distinct strategies. EY acted as structuring advisor and Khaitan & Co as legal advisor. ## Indian Opinion Analysis Both Livemint and NDTV Profit report the NCLT demerger approval for HEG Ltd in near-identical, neutral wire-reporting style. Livemint leads with the share-swap ratio and includes extended stock performance data and a Chairman quote. NDTV Profit leads with the NCLT bench details and the scheme's effective date after RoC filing. Neither outlet adopts a critical or pro-government stance, the coverage is uniform, straight factual reporting. The key difference is emphasis: Livemint frames the story for investors, NDTV Profit for regulatory watchers. Together, the coverage omits any dissenting creditor vote or regulatory concern. The effective date after RoC filing is the one concrete next step to watch. ## Coverage Coverage: 2 sources, 2 neutral - livemint.com (neutral report) Leads with share-swap ratio and stock price gain, frames story for equity investors - ndtvprofit.com (neutral report) Leads with NCLT bench and filing process, frames for regulatory compliance tracking This story was synthesised by AI from the 2 sources linked above. Updated: this story now draws on 2 sources. Last updated 2026-08-20T03:22:11+00:00. Tags: HEG, NCLT, Ravi Jhunjhunwala Canonical: https://indianopinion.org/nclt-approves-heg-demerger-shareholders-get-11-shares/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/nclt-approves-heg-demerger-shareholders-get-11-shares/#story-in-brief How this brief was made: an AI model read the reports linked above and wrote this summary and analysis, which were published automatically. Published briefs are sampled every hour by an automated quality check; the editor verifies its findings and approves corrections, and corrected briefs carry a dated correction line. Stance labels are editorial classifications of how each outlet framed this story, assigned by the same model, not ratings of the outlets. We do no original reporting. Methodology: https://indianopinion.org/ai-use-policy/