Hindalco Industries’ wholly-owned subsidiary, Novelis Inc., has announced a subscription agreement with AV Minerals (Netherlands) N.V. Under the terms, AV Minerals agreed to purchase 13,33,333 common shares of Novelis. The total transaction value is $19,99,99,950, resulting in a price of $150 per share. This move strengthens the corporate structure related to Novelis, the global leader in aluminum rolling and recycling.
Novelis Announces Share Transaction
Hindalco Industries Limited confirms that its wholly-owned subsidiary, Novelis Inc., has entered into a subscription agreement with AV Minerals (Netherlands) N.V. (“AV Minerals”), which is the sole shareholder of Novelis. This disclosure was made public on February 24, 2026.
Details of the Subscription Agreement
Pursuant to the agreement, AV Minerals has committed to purchase 13,33,333 (Thirteen Lakhs Thirty-Three Thousand Three Hundred and Thirty-Three) common shares of Novelis. These shares carry no par value per share.
Key Financial Terms
- Total Purchase Value: $19,99,99,950 (Nineteen Crore Ninety-Nine Lakhs Ninety-Nine Thousand Nine Hundred and Fifty Dollars).
- Price Per Share: The transaction price is fixed at $150 per share.
Regulatory Filings
In connection with this private transaction, Novelis has simultaneously filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC). Further details regarding this agreement are also made available on the official websites of both Hindalco and Novelis.
Source: BSE
