Hindalco subsidiary Novelis postpones U.S. IPO
Novelis says it will continue to evaluate the timing of the offering in the future.
Novelis says it will continue to evaluate the timing of the offering in the future.
The proposed IPO is an offer for sale by the existing promoter Hindalco Industries.
The aluminium recycler is looking to raise up to $945 million by offering 45 million shares at a price range of $18 and $21 each.
The aluminium giant has submitted a draft registration statement with the Securities and Exchange Commission (SEC) of the US for IPO
Novelis expects to complete the public offering after the SEC completes its review process.