Grapevine: Hindalco mulls IPO for Novelis; Welspun Corp may sell ABG Shipyard land

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Hindalco Industries Ltd is contemplating a significant initial public offering (IPO) for Novelis Inc., its US-based subsidiary for making aluminum products, aiming to raise approximately $1.2 billion, a media report said  Hindalco is eyeing a valuation of around $18 billion for Novelis, positioning it as one of the year's most substantial ......