Page 2 - Novelis
Hindalco's arm Novelis files paper with US securities regulator for IPO
Hindalco Industries on Tuesday said its arm Novalis Inc has filed papers with the US securities regulator, the Securities and Exchange Commission, for its proposed Initial Public Offering (IPO). Novelis will be listing its common shares on the New York Stock Exchange. Hindalco, the flagship company of Aditya Birla Group, did not disclose the size of the IPO of its wholly-owned subsidiary Novelis Inc. It also did not give any timeline to hit the market with its public issue. The common shares are expected to be offered by Novelis' sole shareholder -- A V Minerals (Netherlands) NV, also, a fully-owned subsidiary of Hindalco Industries Limited. Novelis Inc will not receive any proceeds from the sale of common shares by its sole shareholder. Hindalco owns 100 per cent of Novelis through AV minerals. In a regulatory filing, the company said, "it has filed a registration statement on Form F-1 with the Securities and Exchange Commission (the SEC) relating to the proposed initial public .
 "Hindalco's arm Novelis files paper with US securities regulator for IPO")
Billionaire Birla's Novelis seeks to complete US IPO as soon as June
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, Bloomberg News has reported
 "Billionaire Birla's Novelis seeks to complete US IPO as soon as June")
K M Birla's Hindalco Industries mulls seeking $1.2 bn in Novelis IPO
Hindalco may target a valuation of about $18 billion for Atlanta-based Novelis, the people said, asking not to be identified because the matter is private
TMS Ep636: Private capex, Softbank AI, Novelis IPO, Mumbai Metaverse
Can private capex offset govt spend curbs in FY25? Can AI help Softbank turn around in India? What does Novelis IPO mean for Hindalco investors? What is Mumbai Megapolis Metaverse? Answers here
 "TMS Ep636: Private capex, Softbank AI, Novelis IPO, Mumbai Metaverse")
Novelis IPO in US SEC: A potential booster for base metals major Hindalco
The monetisation proceeds could be used to fund ongoing capex for Novelis' Bay Minette facility
 "Novelis IPO in US SEC: A potential booster for base metals major Hindalco")
Hindalco Ind gains 5% on report of Novelis Inc's likely IPO in US
On successful completion of its IPO, Novelis will be among the few subsidiaries of Indian companies to be listed separately on foreign bourses
 "Hindalco Ind gains 5% on report of Novelis Inc's likely IPO in US")
Hindalco Industries subsidiary Novelis files draft papers for US IPO
Novelis will not receive any proceeds from share sale
Analysts hopeful for Hindalco despite Novelis' capex revised upwards
Analysts maintained consensus 'buy' rating on Hindalco though the stock lost over 12 per cent post Q3 on Tuesday, mainly due to the sharp increase in Novelis' capex, and ended flat on Wednesday
 "Analysts hopeful for Hindalco despite Novelis' capex revised upwards")
Hindalco tanks 15% post Novelis December quarter results
Novelis has significantly increased its planned capex spends for its green field expansion at Bay Minette plant from $2.7-2.8 billion to $4.1 billion.
 "Hindalco tanks 15% post Novelis December quarter results")
Healthy prospects ahead for Hindalco; analysts positive on the stock
The stock gained over 1 per cent on results to around Rs 488. Analysts seem to be positive on the stock with valuations ranging up to Rs 580
Hindalco announces tech partnership with Italian firm to make rail coaches
Novelis, Indian firm's subsidiary, secures anchor customer for upcoming US plant
Novelis' disappointing Q4 suggests near-term weakness for Hindalco stock
Analysts though are positive on Hindalco, and see an improvement in business prospects from the second half of FY24
Hindalco recalibrates capex to $4.5 bn from $8 bn, cites challenges
Hindalco's stock closed flat at Rs 403.35 apiece on the BSE on Wednesday
 "Hindalco recalibrates capex to $4.5 bn from $8 bn, cites challenges")
Price volatility takes sheen off aluminium firms' capital expenditure
Hindalco's subsidiary Novelis as well as the aluminium division of Vedanta have trimmed guidance by 30-40 per cent for the year
 "Price volatility takes sheen off aluminium firms' capital expenditure")
Hindalco drops 5% as arm Novelis Q2 profit slides 23% YoY; Ebitda down 8%
As per reports, Novelis has also lowered its capital expenditure (capex) outlook for FY23 to a range of $900 million- $1 billion from the previously guided $1.3-1.6 billion
 "Hindalco drops 5% as arm Novelis Q2 profit slides 23% YoY; Ebitda down 8%")
Birla's Hindalco Industries plans $2.5 billion US aluminium recycling mill
The new facility will increase Novelis's, unit of Hindalco, recycling capacity to 90 billion cans globally, from 74 billion currently
 "Birla's Hindalco Industries plans $2.5 billion US aluminium recycling mill")
Novelis to invest $2.5 bn in US in Birla Group's biggest greenfield project
The plan is to build a new highly advanced low-carbon recycling and rolling plant in Bay Minette, Alabama, with initial 600 kilotonnes of finished aluminum goods capacity a year
Top headlines: MS cuts India GDP forecasts; Novelis to invest $2.5 bn in US
Business Standard brings you the top news of the evening
 "Top headlines: MS cuts India GDP forecasts; Novelis to invest $2.5 bn in US")
Novelis to build $50 million recycling, casting centre in South Korea
Novelis Inc, a subsidiary of Hindalco Industries, will build a USD 50 million (around Rs 373 crore) recycling and casting centre in South Korea to expand low carbon aluminium production.
 "Novelis to build $50 million recycling, casting centre in South Korea")
Hindalco PAT jumps 96% in December quarter, stands at Rs 3,675 crore
The company said that it reported its highest net profit in Q3 FY22, surpassing all previous quarterly performances