HEG Ltd. saw its shares rise by nearly 2%, closing at ₹2,265, following the announcement of a significant investment. The company has acquired an 8.23% stake in GrafTech International Ltd., a New York Stock Exchange (NYSE) listed company, through secondary market transactions. This strategic acquisition, valued at ₹248.62 crore, aims to diversify HEG’s investment portfolio.
About the Acquisition
HEG Ltd., a leading manufacturer of graphite electrodes, purchased shares of GrafTech under the Overseas Portfolio Investment (OPI) scheme of Foreign Exchange Management (Overseas Investment) Rules, 2022. The investment does not involve any related-party transactions, and HEG made this acquisition purely for investment purposes.
GrafTech International is a prominent player in the graphite electrodes industry, primarily used in electric arc furnace steel production. The company operates globally, with a strong manufacturing presence, producing high-quality graphite electrodes. The acquisition of this stake strengthens HEG’s footprint in the graphite electrode market, aligning with its core business activities.
