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News on Medial
Aditya Birla subsidiary Novelis files for US IPO, price band at $18-21 per share
Money Control
·
1y ago
Medial
Aditya Birla-subsidiary Novelis Inc, the world's largest producer of flat-rolled aluminium products, has filed for an initial public offering (IPO) in the US. It plans to offer 45 million shares in a price range of $18-$21 per share. The IPO aims to raise $945 million at the upper range and achieve a valuation of up to $12.6 billion. Hindalco Industries, owned by billionaire Kumar Mangalam Birla, will retain approximately 92.5% stake in the company after the IPO. The shares will be listed on the New York Stock Exchange under the ticker 'NVL'.
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Hindalco's Novelis files draft papers to target $12.6 bn valuation via US IPO
Livemint
·
1y ago
Medial
Hindalco Industries' subsidiary, Novelis Inc, aims to raise up to $945 million through an initial public offering (IPO) in the US. Novelis plans to offer 45 million shares at a price range of $18 to $21 per share, targeting a valuation of around $12.6 billion. After the IPO, Hindalco will retain about 92.5% ownership in Novelis. The company expects to list on the New York Stock Exchange under the symbol "NVL". Novelis is a leading producer of flat-rolled aluminum products and the world's largest aluminum recycler.
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Hindalco unit Novelis postpones IPO citing market conditions
Livemint
·
1y ago
Medial
Novelis Inc, the US subsidiary of Hindalco Industries, has decided to postpone its initial public offering (IPO) due to unfavorable market conditions. The company will assess the timing of the offering in the future. The IPO was expected to have a price band of $18 to $21 per share, with estimated net proceeds between $931.5 million and $1.08 billion. Further updates on the situation are yet to be announced.
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Aditya Birla Group taps Citi, BofA Securities and Morgan Stanley for Novelis US IPO
Money Control
·
1y ago
Medial
The Aditya Birla Group has appointed Citi, BofA Securities, and Morgan Stanley as investment banks for the proposed US IPO of its subsidiary, Novelis. This marks the first instance of an Indian conglomerate listing its subsidiary in the US market. Novelis recently submitted a confidential draft registration statement to the US Securities and Exchange Commission (SEC) for the IPO. The Birla group plans to raise $1 billion and expects a valuation of $15 billion for Novelis. The IPO will consist of common shares offered by Novelis' sole shareholder, Hindalco Industries Ltd.
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Hindalco unit Novelis makes US IPO filing public
VCCircle
·
1y ago
Medial
Hindalco Industries' subsidiary, Novelis, has publicly filed for an initial public offering (IPO) in the US. Novelis, a leading producer of flat-rolled aluminum products, is owned by the Indian conglomerate, Aditya Birla Group. The move comes at a time when the US IPO market is seeing a rebound, driven by hopes of a soft landing for the economy. Novelis aims to complete the IPO by early June, with the possibility of formally marketing the deal in two weeks. The company reported net sales of $16.21bn and net income of $600m in fiscal 2024.
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Hindalco gains 2.4% as US subsidiary Novelis files for IPO
Money Control
·
1y ago
Medial
Hindalco Industries' subsidiary, Novelis, has filed for an initial public offering (IPO) with the US Securities and Exchange Commission. The IPO is being offered by Novelis' sole shareholder AV Minerals, a wholly-owned subsidiary of Hindalco. Details about the offering and the amount of money Hindalco will receive are not yet known. The move comes after Hindalco's Q3FY24 net profit increased by 68% year-on-year. However, analysts believe the sale of shares by the promoter will not provide a case for rerating, and the IPO will not directly benefit Novelis.
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Hindalco mulls IPO for Novelis; Welspun Corp may sell ABG Shipyard land
VCCircle
·
1y ago
Medial
Hindalco Industries is considering an IPO for its subsidiary, Novelis, with hopes of raising $1.2 billion. The company is targeting a valuation of $18 billion for Novelis. Meanwhile, Welspun Corp is reportedly looking to sell land owned by ABG Shipyard.
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Falling energy costs, rising demand augur well for aluminium companies
Money Control
·
1y ago
Medial
Jefferies brokerage firm has maintained a buy rating on Hindalco stock with a revised target price of Rs 610 due to capex issues at its subsidiary Novelis. Hindalco shares closed flat on February 21 as investors awaited details of Novelis' plan for an IPO. While the IPO is seen as a positive development, analysts remain uncertain about the benefits for Hindalco shareholders. The aluminium industry is expected to see a recovery in demand driven by the global push towards renewable energy. However, the potential increase in supply may keep a lid on aluminium prices.
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Biggest SME IPO of ₹206 cr by Rosmerta Digital to open on Nov 18
Inshorts
·
8m ago
Medial
The biggest-ever SME IPO of ₹206 crore by Rosmerta Digital Services will open for subscription on November 18. The IPO, consisting of a fresh issue of 1.4 crore shares, has a price band of ₹140-147 per share. Earlier, Danish Power (₹197.9 crore), KP Green Engineering (₹189.5 crore), and Sahasra Electronics Solutions (₹186.16 crore) were some of the biggest SME IPOs.
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Aditya Birla Group makes $20B investment as it sets eyes on scaling biz: KM Birla
YourStory
·
8m ago
Medial
Aditya Birla Group has invested approximately $20 billion, mainly in the manufacturing sector, with the goal of becoming one of the top players in all the segments it operates in. The group has made tough decisions and acquisitions to build scale, such as acquiring Novelis by Hindalco. Aditya Birla Group Chairman KM Birla emphasized the importance of long-term investments in the manufacturing space, while consumer businesses have a shorter time frame. The group aims to expand its cement business from 100 million tonnes to 200 million tonnes over the next decade.
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ArisInfra Solutions sets IPO price band at Rs 210-222 per share for Rs 500 crore offering
IndianStartupNews
·
1m ago
Medial
ArisInfra Solutions, a Mumbai-based B2B startup, has set its IPO price band at Rs 210-222 per share, aiming to raise Rs 500 crore. The IPO will run from June 18 to June 20, with shares listing on June 25. The funds will primarily support the company's working capital, technology upgrades, and geographic expansion. Founded in 2021, ArisInfra targets the construction sector, offering a digital platform for procurement and supply chain management of bulk construction materials.
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