Hindalco Industries Ltd Share Price – NSE  / BSE

Non Ferrous Metals, Mid Cap

The notes will be guaranteed, jointly and severally, on a senior unsecured basis, by Novelis, and by certain of Novelis' subsidiaries. Novelis expects to close the offering of the notes on 13 January 2025, subject to the satisfaction of customary closing conditions.

The company intends to use the net proceeds from the offering to repay $738 million of outstanding borrowings under its revolving credit facility and to use any remaining net proceeds to fund cash on its balance sheet for general corporate purposes.

Hindalco Industries, the metals flagship of the Aditya Birla Group, is the world's largest aluminium rolling and recycling company, a major copper player, and one of Asia's largest producers of primary aluminium. In India, Hindalco's aluminium manufacturing units cover the complete value chain, from bauxite mining, alumina refining, coal mining, captive power generation and aluminium smelting, to downstream value-addition of aluminium rolling, extruding, and foil making.

The Aditya Birla Group company’s consolidated net profit surged 78.01% to Rs 3,909 crore in on 7.45% increase in revenue from operations to Rs 58,203 crore in Q2 FY25 over Q2 FY24.

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Novelis Inc. (a wholly owned subsidiary of Hindalco Industries) today announced that its indirect wholly owned subsidiary, Novelis Corporation, has priced an offering of $750 million aggregate principal amount of 6.875% senior notes due in January 2030 (Notes), which represents an increase of $250 million from the offering size previously announced. The Notes were priced at par value and will bear an interest rate of 6.875% per annum.

The Notes are being offered in a private offering that is exempt from registration under the Securities Act of 1933, as amended (Securities Act). The Notes will be guaranteed, jointly and severally, on a senior unsecured basis, by Novelis, and by certain of Novelis' subsidiaries. Novelis expects to close the offering of the Notes on 13 January 2025, subject to the satisfaction of customary closing conditions.

Novelis intends to use the net proceeds from the offering to repay $738 million of outstanding borrowings under its revolving credit facility and to use any remaining net proceeds to fund cash on its balance sheet for general corporate purposes.

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This development follows the successful signing of the Coal Mine Development and Production Agreement (CMDPA) on 22 November 2024.

The Meenakshi coal mine, located in Odisha, is a fully explored block with a peak rated capacity (PRC) of 12 million tonnes per annum and nearly 285.23 million tonnes of geological reserves.

The company expects to commence coal production in CY2028, subject to receipt of regulatory clearances and requisite approvals.

With a favourable coal-to-waste stripping ratio of less than 1, the G12 grade mine is poised to be a cost-effective and sustainable energy source for company’s operations, making the company self-reliant in coal production,” Hindalco said in a statement.

Hindalco Industries, the metals flagship of the Aditya Birla Group, is the world's largest aluminium rolling and recycling company, a major copper player, and one of Asia's largest producers of primary aluminium. In India, Hindalco's aluminium manufacturing units cover the complete value chain, from bauxite mining, alumina refining, coal mining, captive power generation and aluminium smelting, to downstream value-addition of aluminium rolling, extruding, and foil making.

The Aditya Birla Group company’s consolidated net profit surged 78.01% to Rs 3,909 crore in on 7.45% increase in revenue from operations to Rs 58,203 crore in Q2 FY25 over Q2 FY24.

The scrip shed 0.35% to currently trade at Rs 600.10 on the BSE.

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Hindalco Industries will hold a meeting of the Board of Directors of the Company on 13 February 2025.

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