HEG Shares Gain 5% After Subsidiary Bags ₹217.56 Cr Battery Bank Order

HEG Ltd shares gained up to 5% on Monday after the company announced that its subsidiary, Replus Engitech Private Ltd, had secured orders worth ₹217.56 crore from Indus Towers for the supply of lithium-ion battery banks.

Following the announcement, HEG shares climbed to ₹248.90 on the NSE, drawing investor attention to the company’s growing presence in the energy-storage segment.

According to HEG’s exchange filing, the total value of the orders stands at ₹217.56 crore, including GST. Replus Engitech is required to execute the orders on or before March 31, 2027, unless the parties mutually agree to extend the timeline.

HEG also clarified that the transaction does not constitute a related-party transaction. The company said that neither its promoter group nor its group companies have any interest in the entity awarding the orders.

Replus Engitech is a technology-focused manufacturer operating across the Battery Energy Storage System (BESS) and electric vehicle segments.

The latest order involves lithium-ion battery banks for Indus Towers and highlights the increasing use of battery-based energy-storage solutions across telecom and infrastructure applications.

Battery systems can play an important role in providing backup power and supporting reliable infrastructure operations, particularly as businesses increasingly explore alternatives to conventional power-backup solutions.

The contract also expands Replus Engitech’s order portfolio while bringing greater attention to HEG’s participation in the rapidly developing energy-storage ecosystem.

Growing investment in BESS, electric mobility and distributed energy infrastructure is creating new opportunities for battery manufacturers and technology providers in India.

The ₹217.56 crore order therefore represents a significant business development for Replus Engitech as it expands its presence across battery storage and related energy technologies.