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As on : 15-Nov-2026

Corporate News
15-Nov-2026 11:01

Hindalco sells Novelis China subsidiaries to Shenzhen Hongzhi for about $275 million

Hindalco Industries Limited announced it has entered into a definitive agreement to sell Novelis (China) Aluminum Products Co. Ltd. and Novelis (Shanghai) Aluminum Trading Co. Ltd., wholly-owned subsidiaries of Novelis Inc., a subsidiary of Hindalco, to Shenzhen Hongzhi Industrial Investment Co., Ltd. and/or its affiliates for approximately USD $265 million, plus a potential earn-out of USD $10 million. The Novelis China Entities, which represent approximately 1% of Hindalco’s net sales and 2% of its net worth, generated USD $376 million or Rs 3,319 crore in net sales in fiscal year 2026. The transaction is expected to close within 12 months, subject to regulatory approvals.

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