Ibotta: Walmart-backed tech firm Ibotta files for US IPO
The Denver-based company, which counts PepsiCo, Nestle and Coca-Cola among its more than 850 clients, did not disclose the size of the offering.
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The Denver-based company, which counts PepsiCo, Nestle and Coca-Cola among its more than 850 clients, did not disclose the size of the offering.
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.
Novelis US IPO: The deal is arguably the first instance of an Indian conglomerate attempting a listing of its subsidiary in the US market. In 2019, Bharti Airtel's Africa subsidiary had listed on the London Stock Exchange and the Nigerian Stock Exchange.
International Business News: Chipmaker Astera Labs filed for an initial public offering in the United States on Wednesday.
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