Novelis Inc., owned by Hindalco Industries Ltd., plans to complete a US IPO in early June to raise $1.2 billion with a target valuation of $18 billion. The company filed publicly with the SEC and is working with Morgan Stanley, Bank of America, and Citigroup for the NYSE listing.
Kumar Mangalam Birla’s Novelis plans $1.2 billion worth US IPO as early as June, targets $18 billion valuation
