HEG Raises Stake In GrafTech To 9.98% With Fresh ₹345.9 Million Investment

HEG late Tuesday said it has raised its stake in US-based GrafTech International Ltd. to 9.98% from 8.23% by investing ₹345.9 million.
The stake increase was made through secondary market transactions under the overseas portfolio investment scheme of foreign exchange management, the company said in an exchange filing.

So far, HEG has invested a total of ₹2.83 billion in GrafTech. The US-based firm manufactures graphite electrode products used in producing electric arc furnace steel, as well as other ferrous and non-ferrous metals.

For the 2023-2024 (January-December) period, GrafTech reported a turnover of $538.78 million.