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The delay will likely have a short-term negative impact on Hindalco, said Sneha Poddar, associate vice president at Motilal Oswal Financial Services
Hindalco, a leading aluminium and copper manufacturer, holds a 100 per cent stake in Novelis, which is in a similar business
On successful completion of its IPO, Novelis will be among the few subsidiaries of Indian companies to be listed separately on foreign bourses
We bought Novelis for $6 billion and we got equity of $3 billion in the first three years itself, says K M Birla