Novelis IPO

hindalco shares: Hindalco shares surge 2% after company arm Novelis files 45 million shares in IPO

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Shares of Hindalco jumped 2% on BSE in Wednesday’s trade to the day’s high of Rs 695 after the company’s arm Novelis filed to offer 45 million shares in the US initial public offering (IPO) with a price band of $18-21 per share. Novelis is owned by the Indian conglomerate Aditya Birla Group’s Hindalco and … Read more

KM Birla said to mull seeking $1.2 billion in Novelis IPO

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Billionaire Kumar Mangalam Birla’s Hindalco Industries Ltd. is considering seeking about $1.2 billion in a planned initial public offering of US aluminum products maker Novelis Inc., people familiar with the matter said, in what could be one of the year’s biggest share sales. Hindalco may target a valuation of about $18 billion for Atlanta-based Novelis, … Read more