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Hindalco Industries company will be listed in America, Novelis took another step

Novelis

Novelis IPO: Novelis, wholly owned by Kumar Mangalam Birla’s Hindalco Industries, is preparing to launch an IPO. Novelis has filed a registration statement on Form F-1 with the US market regulator Securities and Exchange Commission (SEC). According to the filing, Novelis intends to list its common shares. These shares will be sold by the company’s shareholder AV Minerals. These shares will be listed on the New York Stock Exchange (NYSE). How many shares will be issued under the IPO and what will be the price band for the IPO have not been decided yet. SEC will complete its review, and then Novelis will proceed with its process.

Novelis IPO can be this big

According to some media reports, the entire IPO process of Novelis may be completed at the beginning of June. According to reports, it can formally start marketing this IPO in about two weeks. Morgan Stanley, BofA Securities, and Citigroup are the lead book-running managers for the proposed IPO. Fargo Securities, Deutsche Bank Securities, and BMO Capital Markets are acting as additional book-running managers. BNB Paribas, Academia Securities, Credit Agricole CIB, PNC Capital Markets LLC, and SMBC Nikko will act as co-managers. Hindalco plans to launch an IPO of $1200 million and some reports have claimed that this IPO could come at a valuation of $1800 million.

Hindalco Industries bought Novelis 15 years ago

Novelis is the world’s largest manufacturer of flat-rolled aluminum products used in everything from cars to soda cans. Hindalco had bought Novelis about 17 years ago in 2007 in a deal worth billions of dollars. In the last financial year 2023, it had more than 60 percent share in Hindalco’s revenue.