Hindalco's Novelis to Acquire 50 Lakh Shares for $750 Million
Hindalco Industries Limited announced that its wholly-owned subsidiary, Novelis Inc., has entered into a subscription agreement with AV Minerals (Netherlands) N.V. Pursuant to this agreement, AV Miner...
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Why is Hindalco Industries Limited in the news today?
Hindalco Industries Limited (HINDALCO) is in the news due to the announcement details a significant acquisition by a subsidiary, indicating business expansion and investment, which is generally viewed positively.
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Hindalco's Novelis to Acquire 50 Lakh Shares for $750 Million
December 29, 2025, 03:01 PM
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Hindalco Industries Limited announced that its wholly-owned subsidiary, Novelis Inc., has entered into a subscription agreement with AV Minerals (Netherlands) N.V. Pursuant to this agreement, AV Minerals will purchase 50,00,000 (Fifty Lakh) of Novelis's common shares at a price of $150 per share, for a total consideration of $750 million.
Novelis has subsequently filed a Form 8-K with the U.S. Securities and Exchange Commission regarding this transaction. Further details are available on the websites of Hindalco Industries Limited (www.hindalco.com) and Novelis (www.novelis.com).
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