Birla eyes $1.2 billion from Novelis IPO

Billionaire Kumar Mangalam Birla‘s Hindalco Industries is considering seeking about $1.2 billion in a planned IPO of US aluminium products maker Novelis, people familiar with the matter said, in what could be one of the year’s biggest share sales. Hindalco may target a valuation of about $18 billion for Atlanta-based Novelis, the people said. The … Read more