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News on Medial
Novelis and after: How Hindalco cracked the foreign buyout code
Livemint
·
14d ago
Medial
Hindalco Industries, part of the Aditya Birla Group, strategically utilized foreign acquisitions to achieve long-term growth. The pivotal 2007 $6 billion Novelis acquisition taught Hindalco to enhance its value chain and adopt advanced production technologies, especially in sustainable, low-carbon aluminum production. This model has since informed its international buyouts, including the recent $125 million acquisition of AlumChem, highlighting Hindalco's evolving capabilities despite challenges in the cyclical metals industry.
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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'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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Novelis plans $1.2bn worth US IPO by June, looking at $18bn valuation
Livemint
·
1y ago
Medial
Novelis Inc., the aluminum products maker owned by Hindalco Industries Ltd., is planning to complete its IPO as early as June. The company aims to raise about $1.2 billion in the IPO, with a potential valuation of around $18 billion. Novelis is the world's largest producer of flat-rolled aluminum products, utilized in various industries. The IPO will be facilitated by Morgan Stanley, Bank of America, and Citigroup. Novelis' parent company, Hindalco, acquired it in 2007 for approximately $6 billion. Around 42% of Novelis' global net sales come from North America.
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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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America First gives an edge for Novelis in US | Company Business News
Livemint
·
8m ago
Medial
The election of Donald Trump as the next US president is expected to benefit aluminium maker Novelis Inc., according to Satish Pai, managing director of parent company Hindalco Industries. Pai states that the Trump administration will be good for Novelis since it produces metal in the US for the US market. Though Novelis has recently faced challenges, including a 3% drop in EBITDA for the quarter, the company is well-positioned to deliver strong long-term performance as demand recovers and its Bay Minette plant becomes operational. Hindalco beat market estimates with a 78% YoY surge in net profit for Q2 2026.
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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 Shares Slip on Mixed Brokerage Calls; Rs 8,000 Cr FY26 Capex Planned, Novelis IPO in Pipeline
OutlookIndia
·
1m ago
Medial
Hindalco's shares fell following mixed broker reviews: Investec downgraded the stock due to tariff challenges, while CLSA expects short-term margin pressures but maintained an ‘outperform’ stance. Hindalco plans a FY26 capex of ₹8,000 crore, focusing on projects like Novelis' Bay Minette. The company’s net profit surged by over 66%; however, Novelis' EBITDA per tonne declined. Motilal Oswal recommends buying, citing strong domestic operations. A Novelis IPO is also considered post-project completion.
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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 net up 71% on lower cost, higher realisation
Thehindubusinessline
·
1y ago
Medial
Hindalco Industries, an Aditya Group company, reported a 71% increase in net profit for the December quarter, reaching ₹2,331 crore. This growth was attributed to lower costs and better realization. However, income slightly decreased to ₹53,088 crore. Hindalco Industries also prepaid long-term domestic debt of ₹2,778 crore in the same quarter, contributing to a reduction in net debt. The company's US subsidiary Novelis announced that its greenfield recycling and rolling aluminium project in Alabama will increase to $4.1 billion and be delayed by a year.
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