HEG Ltd. — Capital/Financing Update 2022

Dec 26, 2022

HEG/SECTT/2022

26[th] December, 2022

1	BSE Limited 25thFloor, P J Towers Dalal Street MUMBAI - 400 001. Scrip Code : 509631	2	National Stock Exchange of India Limited Exchange Plaza, 5th Floor Plot No.C/1, G Block, Bandra - Kurla Complex Bandra (E), MUMBAI - 400 051. Scrip Code : HEG

Sub: Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") - Intimation of incorporation of a Wholly Owned Subsidiary of HEG Limited

Dear Sir/Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) we wish to inform you that the Company has incorporated a Wholly Owned Subsidiary Company named as “ TACC LIMITED” on 26[th] December, 2022.

The details as required under Regulation 30 of the Listing Regulations read with SEBI circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 is attached herewith as Annexure-A .

The aforesaid information is being made available on the Company's website i.e www.hegltd.com

Please take the same on record

Thanking you,

Yours faithfully, For HEG Limited

Digitally signed by VIVEK VIVEK CHAUDHARY CHAUDHARY Date: 2022.12.26 19:56:46 +05'30'

(Vivek Chaudhary) Company Secretary M.No. A-13263 heg.investor@lnjbhilwara.com

Encl. as above

Annexure-A

Incorporation of a Wholly Owned Subsidiary Company

S No.	Particulars	Description
1	Name of the Target entity, details in brief such as size, turnover etc.	TACC Limited is incorporated as a Wholly Owned Subsidiary (“WOS or Subsidiary”) of the Company on 26thDecember, 2022. CIN: U31909MP2022PLC064004 Authorised Capital: Rs. 100 Crores. Paid Up Capital: Rs. 10 Crores. Size/Turnover: Not Applicable (yet to commence its business operations)
2	Whether the acquisition would fall within related party transaction(s)and whether the promoter/ promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arms length”	TACC Limited is promoted by HEG Limited. The incorporation will not fall within related party transaction as the entity has become a related party post incorporation. The promoter/promoter group/ group companies are interested to the extent of the Shareholding in TACC Limited. The shares are subscribed at arm’s length basis.
3	Industry to which the entity being acquired belongs;	TACC Limited would manufacture graphite anode for Lithium-ion cells. The plant would be made in two phases, spending Rs. 1000 Crores in Phase 1 over the next 3 years which would cater to 10-12 GWH of cell manufacturing capacity. In Phase 2 the Company plans to double the capacity with another Rs. 1000 Crores approx. catering to a total of 20-22 MWH of cell manufacturing capacity.

VIVEK CHAUDHARY

Digitally signed by VIVEK CHAUDHARY Date: 2022.12.26 19:57:13 +05'30'

			The Company aims to finish both the phases in 5-7 years. The Company would be engaged in production of graphite anodes for lithium ion cells and other advanced materials as a part of the innovation wing. In order to support the local industrial growth, the Indian government's PLI scheme mandates 60% domestic value addition for cell production. Anode material produced by us will play an important role meeting this requirement. The Company shall leverage the position of its Parent as a graphite industry leader to research and develop next-generation graphite and its specialized derivative materials for clean energy storage and conversion technologies beginning with anode for Li–ion batteries. It will make a significant contribution to the sustainable and technological advancement of our nation and planet in the field of materials manufacturing for green energy technologies over the next decade.
	4	Objects and effects of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is outside the main line of business of the listed entity);	Newly Incorporated WOS will have the following Objects: 1. To produce graphite anode for lithium ion cells and other advanced carbon and anode materials for various energy storage systems and materials manufacturing for green energy technologies mainly focusing on carbon and graphite based materials as anode to contribute to the sustainability and technological advancement of the global energy ecosystem.

			2. To research and develop next-generation graphite or anode and its specialized derivative materials for clean energy storage and conversion technologies beginning with anode for Li - ion batteries including but not limited to fuel cells and electrolyzes.
	5	Brief details of any governmental or regulatory approvals required for the acquisition;	Not Applicable
	6	Indicative time period for completion of the acquisition;	Not Applicable as from inception TACC Limited is formed as wholly owned subsidiary company
	7	Nature of consideration - whether cash consideration or share swap and details of the same;	100% subscription to the paid-up share capital in cash.
	8	Cost of acquisition or the price at which the shares are acquired;	The Company to subscribe 1,00,00,000 (One Crore) Equity Shares of face value of Rs. 10 (Rupees Ten) Each aggregating to Rs. 10,00,00,000 (Rupees Ten Crore Only).
	9	Percentage of shareholding / control acquired and / or number of shares acquired;	100% ; 1,00,00,000 Equity Shares of face value of Rs. 10 Each aggregating to Rs. 10,00,00,000 .
	10	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief);	Products/Line of Business: 1. To produce graphite anode for lithium ion cells and other advanced carbon and anode materials for various energy storage systems and materials manufacturing for green energy technologies mainly focusing on carbon and graphite based materials as anode to contribute to the sustainability and technological advancement of the global energy ecosystem.

1. To research and develop next-generation graphite or anode and its specialized derivative materials for clean energy storage and conversion technologies beginning with anode for Li - ion batteries including but not limited to fuel cells and electrolyzes.

Date of Incorporation: 26[th] December, 2022.

Turnover History: Not Applicable TACC Limited is incorporated in India with Registrar of Companies of Madhya Pradesh. The Company is yet to commence its Business Operations.

VIVEK CHAUDHARY

Digitally signed by VIVEK CHAUDHARY Date: 2022.12.26 19:58:06 +05'30'