Hindalco-owned Novelis aims for $12.6 billion valuation with US IPO
Shortpedia
Content Team
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Novelis Inc, a subsidiary of Hindalco Industries, is targeting a valuation of up to $12.6 billion, through its initial public offering (IPO) in the United States. The aluminum producer plans to offer 45 million shares at an estimated price band between $18 and $21 per stock. As per documents filed with the US Securities and Exchange Commission (SEC), Hindalco wants to raise up to $945 million from this offering.
