HEG Share saw a strong jump of 5.02% in morning trade on Tuesday, reaching ₹407.50, following an announcement about its fundraising plans. The stock opened at ₹408.00 on the National Stock Exchange (NSE), marking a 5% rise from its previous close of ₹387.80. During the session, it hit an intraday high of ₹416, even as the broader Nifty-50 index dropped 0.5% due to weak global market trends.
HEG Ltd is a top graphite electrode manufacturer with the world’s largest single-site plant. It exports 65-70% of its products to 35+ countries. Business includes UHP, HP, and RP electrodes, with 99% revenue from graphite. The Bhopal facility has a 100,000 TPA capacity, expanded by 20,000 TPA. Expansion plans involve a ₹2,000 crore investment to increase cell manufacturing from 10-12 GWH to 20-22 GWH. Financials show a ₹7,834 Cr market cap, ₹406 stock price, 1.03% dividend yield, and 24% CAGR over 10 years.
Overview of Contents
Why HEG Share Jumps Today
On March 10, 2025, HEG Ltd’s Board of Directors held a meeting to finalize a fundraising plan for Bhilwara Energy Ltd (BEL). The company later announced that Singularity Growth Opportunities Fund will invest ₹250 crore in BEL, with an option to invest an additional ₹250 crore in the future.
A share subscription and shareholders’ agreement was signed between HEG Ltd, Singularity Growth Opportunities Fund II, Bhilwara Energy Ltd, and BEL’s existing shareholders. Under the agreement, BEL will issue 1,75,95,979 new equity shares at a face value of ₹10 per share. This will result in investors holding a 9.6% stake in BEL after the issuance.
Impact on HEG Ltd’s Ownership in BEL
Currently, HEG Ltd owns a 49.01% stake in BEL. After this investment, its holding will be reduced to 44.30%. If Singularity decides to invest another ₹250 crore, the ownership structure will shift further.
BEL’s Expansion Plans and Future Strategy
BEL has approved a ₹500 crore fundraising round, led by Singularity AMC, a growth equity firm backed by Madhusudan Kela. This investment will help BEL build HEG Greentech, an integrated energy transition platform. The funds will be used for:
- Organic growth
- New greenfield projects
- Strategic acquisitions in sectors like power assets, battery-grade anode materials, bottle-to-bottle recycling, graphene, and advanced battery systems.
BEL’s Managing Director, Riju Jhunjhunwala, stated that this investment shows confidence in BEL’s vision to drive India’s clean energy transition. Yash Kela, Cofounder & CIO of Singularity AMC, added that HEG Greentech’s ₹3,000-crore capex plan is close to financial closure, with execution being the key challenge.
BEL, part of the LNJ Bhilwara Group, has primarily focused on hydropower projects but is now diversifying. HEG Greentech is expected to go public after the demerger of HEG Ltd’s graphite business and merger with BEL, as approved by HEG Ltd’s board in May 2024.
Conclusion
HEG Ltd’s stock reacted positively to the fundraising news, defying the weak market trend. The investment from Singularity AMC will strengthen BEL’s clean energy initiatives and help accelerate India’s low-carbon energy transition. With supportive government policies in place, BEL is well-positioned for growth in the energy sector.