56 crore order from Indus Towers for lithium-ion battery banks. The order is to be executed by March 31, 2027.

The development comes as HEG progresses with its demerger into separate graphite electrodes and advanced materials businesses. comHEG’s Replus Engitech to supply lithium-ion battery banks under the new contract.

56 crore. According to the filing with the exchange, the company said that Replus Engitech Private, a subsidiary of the company, has been awarded by a domestic entity for supply of Lithium-Ion battery banks.

REPLUS Engitech Private Limited, a subsidiary of Bhilwara Energy Limited, is a fast-growing, technology-driven manufacturer at the forefront of India’s Battery Energy Storage System (BESS) and Electric Vehicle (EV) markets, according to the company’s website. The company said it specialises in advanced lithium-ion technology and delivers secure, intelligent and reliable energy storage solutions, backed by in-house expertise in battery management systems (BMS) and energy management systems (EMS).

Its offerings include AI-enabled battery pack manufacturing for stationary storage across residential, commercial, industrial and transmission and distribution (T&D) applications, as well as telecom, hybrid systems and e-mobility applications, including 2W, 3W, LCVs and AGVs. HEG demergerEarlier this month, the company announced its demerger into two separately listed entities focused on graphite electrodes and advanced materials.

The graphite electrodes business will move to HEG Graphite, which is proposed to be later renamed to HEG and run as a pure-play graphite electrodes company. The existing listed company will retain the advanced materials, battery energy solutions and green power businesses.

It is proposed to be renamed HEG Advanced Materials after the demerger. As part of the demerger, HEG shareholders will receive one share with a face value of Rs 2 each in the company being spun off for every share they hold in the existing HEG.

This means the demerger ratio has been fixed at 1:1. As part of the same scheme, Bhilwara Energy will be amalgamated into HEG.

Under the arrangement, HEG will issue eight equity shares with a face value of Rs 2 each for every seven equity shares with a face value of Rs 10 each held in Bhilwara Energy. 27% so far this calendar year.

24%, respectively. Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution.