Novelis, a leading provider of sustainable aluminum solutions and a global leader in aluminum rolling and recycling, has announced the filing of a registration statement with the Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of its common shares.
The shares are expected to be offered by Novelis’ sole shareholder, Hindalco Industries of the Aditya Birla Group. Novelis has stated that it will not receive any proceeds from the sale of the common shares by Hindalco Industries.
Novelis plans to list its common shares on the New York Stock Exchange under the ticker symbol “NVL.” The number of shares to be offered and the price range for the proposed offering have not yet been determined.
The public offering is expected to be completed once the SEC completes its review process, subject to market and other conditions. “There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering,” the company stated. 
