HEG to increase stake in Bhilwara Energy

HEG has received approval to increase the stake in Bhilwara Energy (BEL), an Associate Company of HEG, from 29.48% to 49%. BEL is either itself or through its subsidiaries has portfolio of operational 278 MW of Hydro and 34 MW of Wind assets. A cash consideration of Rs 162.05 crore will be given for acquiring additional 3,23,51,004 equity shares to increase the Company's holding from 29.48% to 49%. The Board of Directors of the Company at its meeting held on April 02, 2019 has approved the same.

HEG is engaged in manufacturing of graphite electrodes, which are used by manufacturers of steel. The company’s segments include Graphite, Power and Unallocable items/others.