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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 ....
Novelis Inc has confidentially submitted a draft registration statement on form F-1 with the SEC relating to the proposed primary stake sale of its common shares. ....
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. ....
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." ....
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. ....