Billionaire Birla’s Hindalco Prepares US Listing for Novelis

Billionaire Kumar Mangalam Birla plans a US listing for Novelis Inc., the world’s largest maker of flat-rolled aluminum products used in everything from cars to soda cans.

Atlanta-based Novelis has submitted a draft registration statement with the Securities and Exchange Commission for a proposed initial public offering of its common shares, the company said. Stock will be offered by a unit of parent Hindalco Industries Ltd. and Novelis won’t receive any proceeds from the sale, it said.

Kumar Mangalam Birla

Photographer: Prakash Singh/Bloomberg

Hindalco purchased Novelis in a multibillion-dollar deal in 2007 and the US unit contributed to more than 60% of the Indian ...