HEG Ltd. — Capital/Financing Update 2025

Apr 22, 2025

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[HEG / SECTT / 2025]

22[nd] April 2025

	BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai – 400001 Scrip Code: 509631	National Stock Exchange of India Limited Exchange plaza, C-1, Block G, Bandra-Kurla Complex, Bandra (E), Mumbai – 400051 Scrip Code: HEG

Sub: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time (“SEBI LODR”)

Dear Sir/Madam,

This is in furtherance of the our earlier intimation dated 10 March 2025 to the stock exchanges filed by the Company, regarding approval of the board of directors of the Company for execution of share subscription and shareholders’ agreement on 10 March 2025, by and amongst, HEG Limited (the Company), Singularity Growth Opportunities Fund II (“ Singularity ”), Bhilwara Energy Limited (“ BEL ”) and existing shareholders of BEL (“ SSSHA ”) inter alia in connection with investment of an aggregate amount of approx ~INR 250 crore (Indian Rupees Two Hundred Fifty Crore) by Singularity and its Affiliates and certain other Persons to be identified by Singularity pursuant to the terms of SSSHA (“ Investors ”) in BEL as consideration for subscription, allotment and issuance of 1,75,95,979 equity shares of face value INR 10 each at Rs 142.08 per share by BEL ‐ (“ Subscription Shares ”), in accordance with the terms of the SSSHA, such that post issuance, the Investors will hold 9.6% of the paid‐up share capital of BEL (“ Investment Transaction ”).

In this regard, we wish to inform you that BEL has completed all the conditions precedent to the Investment Transaction, in accordance with the terms and conditions set out under the SSSHA and have received the share application money of ~INR 25 crore (Indian Rupees Twenty Five Crore) from the Investors in relation to the Subscription Shares.

Accordingly, the board of directors of BEL in its meeting held today i.e., 22[nd] April 2025 has approved the allotment of the Subscription Shares to the Investors.

Vivek Digitally signed by Vivek Chaudhary Date: 2025.04.22 Chaudhary 12:59:25 +05'30'

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This may kindly be treated as a material development on the earlier disclosure under Regulation 30 of SEBI LODR.

This is for your information and record.

The aforesaid information is also available on the website of the Company i.e www.hegltd.com.

Thanking you,

Yours faithfully, For HEG Limited

Vivek Digitally signed by Vivek Chaudhary Chaudhary Date: 2025.04.22 12:58:56 +05'30' (Vivek Chaudhary) Company Secretary M.No. A-13263

heg.investor@lnjbhilwara.com

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