Novelis, the world’s largest manufacturer of cutting-edge aluminum products and solutions, announced the start of its roadshow for the 45,000,000 (45 million) common shares that its only shareholder is holding in an IPO. Novelis Inc., a US-based company that is a division of Hindalco Industries,
Novelis and Hindalco company make ($945) milli IPO
plans to initiate an initial public offering (IPO) in order to generate up to USD 945 million, with an estimated USD 12.6 billion equity valuation. One of Novelis Inc.’s sole shareholders, A V Minerals (Netherlands) NV, a wholly-owned subsidiary of Hindalco Industries Ltd., will sell about 45 million shares in the proposed public offering.There will be no profits for the corporation.
There will be no profits for the corporation.
Novelis, the world’s largest manufacturers Novelis and Hindalco company make ($945) milli IPO
Novelis, the world’s largest manufacturer of cutting-edge aluminum products and solutions, announced the start of its roadshow for the 45,000,000 (45 million) common shares that its only shareholder is holding in an IPO.
The latest estimate for the price per common share of the IPO is between USD 18 and USD 21. Novelis has submitted an application to list its common shares under the ticker symbol “NVL” on the New York Stock Exchange,” the business announced in a statement on Tuesday.
Novelis recently submitted documents for its planned initial public offering (IPO) to the Securities and Exchange Commission, the US securities regulator. Through A V Minerals, Hindalco currently controls 100% of Novelis. Following its IPO, Hindalco will hold around 92% of Novelis.
For 30 days following the date of the final prospectus, Novelis anticipates that the selling shareholder will provide the underwriters the option to buy up to an extra 6,750,000 common shares to cover any over-allotments, if any.”
The profits are expected to be distributed to Novelis’s only shareholder, who is believed to be worth between USD 810 and USD 945 million. According to sources, the profits are expected to range from USD 931.5 million to USD 1.08 billion if the greenshoe option is exercised.
According to sources, the company’s equity worth is expected to be between USD 10.8 billion and USD 12.6 billion, with the possibility that it might reach USD 15.2 billion in valuation to 17 billion US dollars.
Prior to this month, Novelis had stated that, contingent on market and other factors, it anticipates concluding the public offering following the SEC’s review process.
It had said that there could be no guarantee regarding the completion date, the magnitude, or the terms of the offering.
Novelis is a division of Hindalco Industries Ltd., the principal enterprise of the Aditya Birla Group and a leader in the aluminum, copper, and metals industries.
After Birla Carbon (Thailand), this will be the second Aditya Birla group firm to pursue an international listing. Novelis, which runs an integrated global network of cutting-edge rolling and recycling operations in Europe, South America, and North America additionally & Asia, reported a 16.2 billion USD turnover in FY24.
Novelis and Hindalco company make ($945) milli IPO
In 2023–24, Hindalco’s revenue was Rs 2,15,962 crore.
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