Hindalco-owned Novelis postpones US IPO: What we know
6 months, 2 weeks ago

Hindalco-owned Novelis postpones US IPO: What we know

Hindustan Times  

Aluminum products maker Novelis, owned by Indian billionaire Kumar Mangalam Birla's Hindalco Industries, on Tuesday postponed its initial public offering citing market conditions. Novelis IPO: Hindalco was looking to raise up to $945 million through the sale of 45 million shares at a price of $18 to $21 per share. The world's largest recycler of aluminum, whose customers include Coca-Cola, Ford and Jaguar LandRover, said last month it was targeting a valuation of up to $12.6 billion in its US IPO. Novelis was acquired in 2007 by aluminum and copper manufacturing company Hindalco, a unit of Indian multinational conglomerate Aditya Birla Group, headquartered in Mumbai.

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History of this topic

America First gives an edge for Novelis in US
1 month, 1 week ago

America First gives an edge for Novelis in US

Live Mint  

Mumbai: The election of Donald Trump as the next president of the US bodes well for aluminium maker Novelis Inc., a top executive of its parent Hindalco Industries Ltd said. “This administration will be good for Novelis, because Novelis produces metal in the US for the US,” said Satish Pai, managing director of Hindalco Industries, the Aditya Birla Group flagship. …

Novelis IPO: US subsidiary of Hindalco Industries declares price band at $18 to $21 per share
6 months, 3 weeks ago

Novelis IPO: US subsidiary of Hindalco Industries declares price band at $18 to $21 per share

Hindustan Times  

US-based Novelis Inc, which is part of Hindalco Industries, will launch an initial public offer to raise up to USD 945 million, with an estimated equity valuation of up to USD 12.6 billion. Novelis IPO: Novelis announced the launch of its roadshow for the initial public offering of 45,000,000 common shares held by its sole shareholder. In the proposed public …

Hindalco Firm Novelis To Launch IPO; Seeks To Raise Up To $945 Million
6 months, 3 weeks ago

Hindalco Firm Novelis To Launch IPO; Seeks To Raise Up To $945 Million

ABP News  

Novelis Inc., a US-based subsidiary of Hindalco Industries, has announced plans to launch an initial public offering aimed at raising up to $945 million. In the proposed public issue, nearly 45 million shares will be sold by Novelis Inc.'s sole shareholder, A V Minerals NV, which is a wholly-owned subsidiary of Hindalco Industries Ltd. Novelis will not receive any proceeds …

Novelis plans $1.2 billion US IPO by June, looking at $18 billion valuation
7 months, 1 week ago

Novelis plans $1.2 billion US IPO by June, looking at $18 billion valuation

Hindustan Times  

Novelis Inc., the aluminum products maker owned by billionaire Kumar Mangalam Birla’s Hindalco Industries Ltd., is seeking to complete a planned US initial public offering as soon as early June, according to people familiar with the matter. Hindalco is seeking to raise about $1.2 billion in the IPO for Atlanta-based Novelis and may target a valuation of about $18 billion, …

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