HEG Limited Board Pledges Majority of TACC Shares for Rs 1,239 Cr Loan

HEG Limited’s board pledged a majority stake in its subsidiary TACC Limited to secure a Rs 1,239 crore credit line from State Bank of India (SBI).

• 51% of TACC’s equity shares were pledged to SBICAP Trustee, with a non‑disposal promise on the remaining 49% and hypothecation over unsecured loans.
• The arrangement is a guarantee, so there’s no immediate impact on HEG’s balance sheet or profit‑and‑loss, but drawn funds could raise the group’s consolidated debt.
• If TACC defaults, the pledged shares could be transferred to SBI, potentially diluting HEG’s control and net asset value.
• The facility is intended to fund a major growth project for TACC, giving the group large financing without immediate equity dilution at the group level.