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The latest announcement is out from Hindalco Industries Limited ( (IN:HINDALCO) ).
Novelis Inc., the wholly owned US-based subsidiary of Hindalco Industries Limited, has entered into a subscription agreement with AV Minerals (Netherlands) N.V., its sole shareholder and a wholly owned subsidiary of Hindalco. Under this transaction, AV Minerals will purchase 5 million Novelis common shares for a total consideration of $750 million at a price of $150 per share. The intra-group equity infusion strengthens Novelis’s capital base and underscores Hindalco’s continued financial support for its flagship overseas subsidiary, with implications for funding future growth, balance-sheet flexibility and reinforcing Hindalco’s consolidated position in the global aluminium value chain.
More about Hindalco Industries Limited
Hindalco Industries Limited, part of the Aditya Birla Group, operates in the metals sector with a focus on aluminium and related value-added products through its wholly owned subsidiary Novelis Inc. Novelis is a leading global producer of rolled aluminium products and is a key strategic asset within Hindalco’s international portfolio, serving automotive, packaging and industrial customers worldwide.
Average Trading Volume: 295,212
Technical Sentiment Signal: Buy
Current Market Cap: 1961.4B INR
Find detailed analytics on HINDALCO stock on TipRanks’ Stock Analysis page.