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Kumar Mangalam Birla's Hindalco is selling part stake in cash cow Novelis. Will it benefit investors?

Hindalco is expected to raise up to USD5 billion from the sale of a part stake in Novelis. However, investors and analysts are puzzled as to how the proceeds of the sale will be utilised, especially since th reinvestment of funds in capex or acquisitions in the past has had a limited impact on stock performance.

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Baldwin Co. Novelis Plant cost increased and opening delayed

Novelis announced earlier this month in its third quarter fiscal year 2024 report, the cost of the state-of-the art rolling and recycling plant is over cost est

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Novelis could be a good bet if valuations top $10 bn

What Hindalco intends to do with the proceeds is still unknown. There are no details beyond the fact that the IPO proceeds will benefit AV, with no direct financial impact on Novelis's balance sheet

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Hindalco-owned aluminium company Novelis to launch US IPO

India Business News: Kumar Mangalam Birla plans to launch an IPO of Novelis, his aluminium company, in the US market. It will be the first Indian conglomerate to sell comm

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Hindalco: Hindalco arm Novelis eyes US IPO, files papers

The company is wholly owned by Hindalco through its subsidiary AV Minerals (Netherlands) NV, which will offload shares for the public offering. India-listed Hindalco will get all the proceeds from the sale, but the company did not disclose how many shares will be sold in the offer.

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Hindalco subsidiary Novelis files draft papers for proposed US IPO

New Delhi, Atlanta-based Novelis Inc., a fully-owned subsidiary of Hindalco Industries, has announced that it has confidentially submitted a draft registration

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Hindalco shares jump 5% after Novelis files for IPO in the US

In Wednesday's early trading, Hindalco Industries, the leading metals company under the Aditya Birla Group, surged 5% to reach ₹538 per share. This uptick follows the company's decision to take its US subsidiary, Novelis Inc., public.

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Novelis IPO: Aditya Welekar on Novelis IPO, Hindalco and more

Aditya Welekar of Axis Securities discusses the Novelis IPO's potential uses of funds, including capex and acquisitions. Hindalco aims to unlock Novelis' value and raise cash without increasing net debt. The stock's performance and valuation will depend on the IPO's outcome. Welekar says "let us hear from the management how they want to use the proceeds and based on that, we will take a call on the stock."

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Hindalco subsidiary Novelis files documents with SEC for proposed US IPO

The shares are expected to be offered by Novelis’ sole shareholder (a unit of Hindalco Industries Ltd). Novelis will not receive any proceeds from the sale of shares by its shareholder

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novelis ipo: Hindalco's arm Novelis files draft papers for US IPO

In the IPO, the common shares are expected to be offered by Novelis sole shareholder. Novelis will not receive any proceeds from the IPO and the public offering is expected to be completed after the SEC completes its review process.

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