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Hindalco subsidiary Novelis postpones U.S. IPO
Novelis says it will continue to evaluate the timing of the offering in the future.
Novelis says it will continue to evaluate the timing of the offering in the future.
The proposed IPO is an offer for sale by the existing promoter Hindalco Industries.
The aluminium recycler is looking to raise up to $945 million by offering 45 million shares at a price range of $18 and $21 each.
The aluminium giant has submitted a draft registration statement with the Securities and Exchange Commission (SEC) of the US for IPO
Novelis expects to complete the public offering after the SEC completes its review process.
Novelis reported YoY improvement in net income and adjusted EBITDA in Q3 FY24, driven by higher pricing and lower operating costs.
The Aditya Birla Group company plans to invest ₹800 crore to build a new plant near Sambalpur in Odisha.
Hindalco has inked a power purchase agreement with Seven Renewable Power for the acquisition of a 26% stake in the company.
The hazardous nature of e-waste is compounded by improper handling leading to a significant loss of valuable materials, says Kumar Mangalam Birla
Revenue of Aditya Birla Group metals flagship rises 6% to ₹53,151 crore in Q3 FY23; EBITDA down 48% YoY to ₹3,930 cr.