Novelis is the world’s largest recycler of aluminium and a global pioneer in the development of new aluminium goods and solutions. Novelis collaborates with suppliers and clients in the aerospace, automotive, beverage packaging, and specialty sectors in North America, Europe, Asia, and South America.
Novelis has initiated the roadshow for its IPO of 45,000,000 shares held by its only shareholder, A.V Minerals (Netherlands) N.V.
Novelis is a subsidiary of Hindalco Industries Limited, an aluminium and copper industry leader and the metals flagship firm of the Aditya Birla Group, a Mumbai-based global conglomerate.
The proceeds of the IPO will go to the promoter, and Novelis will not get any proceeds from the selling of common shares by its only shareholder. After the IPO, a fully owned subsidiary of Hindalco would possess 555,000,000 shares of Novelis’ common stock, accounting for 92.5% of Novelis’ total outstanding common stock (91.4% assuming the underwriters exercise their entire over-allotment option).
Novelis is the world’s largest recycler of aluminium and a global pioneer in the development of new aluminium goods and solutions. Novelis collaborates with suppliers and clients in the aerospace, automotive, beverage packaging, and specialty sectors in North America, Europe, Asia, and South America.
In fiscal 2024 , Novelis had total flat-rolled product shipments of 3,673 kt, net sales of $16.2 billion, net income of $600 million, and adjusted EBITDA of $1,873 million.
Novelis is North America’s leading aluminium recycling and manufacturing company.
In North America Geography, Company recorded robust financial numbers. This includes sales $6,717 million and Adjusted EBITDA of $749 million in Adjusted EBITDA.
Novelis anticipates that the selling shareholder will provide the underwriters an option to acquire up to an additional 6,750,000 common shares to cover any over-allotments for 30 days following the date of the final prospectus. The current estimate for the IPO’s price per common share is between $18.00 and $21.00. Novelis has sought to list its common shares on the New York Stock Exchange under the ticker name “NVL.”
Earlier on May 13th, Novelis filed Form F-1 with the Securities and Exchange Commission.
Company has roped in leading Investment banker i.e. BofA Securities, Morgan Stanley, and Citigroup as the main book-running managers for the planned offering.
Novelis operates an integrated network of 32 world-class, technologically sophisticated facilities in North America, Europe, Asia, and South America, with 14 recycling centres, 11 innovation centres, and 13,190 workers.
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