New Delhi: Hindalco Industries on Tuesday said its arm and US-based aluminum products maker Novelis Inc has filed registration details with US securities regulator, Securities and Exchange Commission, for its proposed initial public offering.
Novelis will list its common shares on the New York Stock Exchange.
The offering of ordinary shares was made by Novelis' sole shareholder – A Minerals (Netherlands) N.V. It is expected to be manufactured by Hindaluk Industries Limited, which is also a wholly owned subsidiary of Hindalak Industries Limited.
Novelis Inc. will not receive any proceeds from the sale of common shares by its sole shareholder.
In a regulatory filing, the company said, “It has filed a registration statement on Form F-1 with the Securities and Exchange Commission (SEC) in connection with a proposed initial public offering of its common shares.,
The company said Novelis expects to complete the public offering after the SEC completes its review process, subject to market and other conditions. Additionally, the company said, "No assurance can be given as to when the offering will be completed or materialized." The size or terms of the offer.”
It said the registration statement in respect of the securities has been filed with the SE but has not yet taken effect.
Novelis is a subsidiary of Hindalco Industries Limited, a leader in the aluminum, copper and metals industries; And is a flagship company of Aditya Birla Group.Novelis is a leading sustainable aluminum solutions provider and is engaged in aluminum rolling and recycling. It operates an integrated network of technologically advanced rolling and recycling facilities in North America, South America Europe and Asia.
Morgan Stanley, BofA Securities and Citigroup will act as lead book-running managers for the proposed offering, with Wells Fargo Securities, Deutsche Bain Securities and BMO Capital Markets acting as additional book-running managers.
BNP Paribas, Academia Securities, Crédit Agricole CIB, PNC Capital Markets LL and SMBC Nikko will act as co-managers for the proposed offering.
Novelis will list its common shares on the New York Stock Exchange.
The offering of ordinary shares was made by Novelis' sole shareholder – A Minerals (Netherlands) N.V. It is expected to be manufactured by Hindaluk Industries Limited, which is also a wholly owned subsidiary of Hindalak Industries Limited.
Novelis Inc. will not receive any proceeds from the sale of common shares by its sole shareholder.
In a regulatory filing, the company said, “It has filed a registration statement on Form F-1 with the Securities and Exchange Commission (SEC) in connection with a proposed initial public offering of its common shares.,
The company said Novelis expects to complete the public offering after the SEC completes its review process, subject to market and other conditions. Additionally, the company said, "No assurance can be given as to when the offering will be completed or materialized." The size or terms of the offer.”
It said the registration statement in respect of the securities has been filed with the SE but has not yet taken effect.
Novelis is a subsidiary of Hindalco Industries Limited, a leader in the aluminum, copper and metals industries; And is a flagship company of Aditya Birla Group.Novelis is a leading sustainable aluminum solutions provider and is engaged in aluminum rolling and recycling. It operates an integrated network of technologically advanced rolling and recycling facilities in North America, South America Europe and Asia.
Morgan Stanley, BofA Securities and Citigroup will act as lead book-running managers for the proposed offering, with Wells Fargo Securities, Deutsche Bain Securities and BMO Capital Markets acting as additional book-running managers.
BNP Paribas, Academia Securities, Crédit Agricole CIB, PNC Capital Markets LL and SMBC Nikko will act as co-managers for the proposed offering.
