Novelis Inc., a Hindalco-owned aluminum manufacturer, plans a $1.2bn US IPO in June, targeting a $18bn valuation on the NYSE.

Novelis Inc., an aluminum products manufacturer owned by Hindalco Industries, plans a US Initial Public Offering (IPO) as early as June, seeking to raise $1.2bn and targeting a $18bn valuation. Novelis, the world's largest maker of flat-rolled aluminum products, is based in Atlanta and will list on the New York Stock Exchange. Morgan Stanley, Bank of America Corp., and Citigroup Inc. are working with Novelis on the potential NYSE listing.

May 13, 2024
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