Hindalco Industries Limited has informed the stock exchanges that its subsidiary Novelis Inc. has entered into a definitive agreement for the sale of two China-based entities. The intimation, dated November 15, 2026, is filed pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.
The two entities being sold are Novelis (China) Aluminum Products Co. Ltd. and Novelis (Shanghai) Aluminum Trading Co. Ltd. Both are wholly-owned subsidiaries of Novelis Inc., which is itself a subsidiary of Hindalco Industries Limited. Together, they are referred to in the filing as the "Novelis China Entities."
What the Sale Involves
Upon consummation of the proposed transaction, the Novelis China Entities will cease to be subsidiaries of Hindalco Industries Limited. The agreement was entered into on November 14, 2026.
The buyer named in the filing is Shenzhen Hongzhi Industrial Investment Co., Ltd. and/or one or more of its affiliates. The filing confirms that the buyers do not belong to the promoter or promoter group companies of Hindalco Industries Limited.
The transaction is not classified as a related party transaction. The disclosure regarding whether the sale is outside the Scheme of Arrangement is marked as "Not Applicable", as the transaction does not pertain to the sale, lease or disposal of an undertaking of Hindalco Industries Limited.
Deal Value and Structure
The consideration for the sale is approximately USD 265 million. In addition to this base amount, the agreement includes a contingent earn-out of USD 10 million, payable upon the achievement of specified conditions.
The closing of the transaction is expected to occur within 12 months of the execution date, which is November 14, 2026. The completion is subject to regulatory approvals.
Scale of the China Entities
To put the size of the Novelis China Entities in context, the filing provides details of their financial contribution to the Hindalco group.
In financial year 2026, the Novelis China Entities had net sales of USD 376 million, which is approximately ₹3,319 crore. This represented approximately 1% of Hindalco's net sales during that period.
At the end of the last financial year, the Novelis China Entities contributed USD 259 million, approximately ₹2,420 crore, towards the company's net worth. This represented approximately 2% of Hindalco's net worth as of that date.
| Particular | Detail |
|---|---|
| Entities being sold | Novelis (China) Aluminum Products Co. Ltd. and Novelis (Shanghai) Aluminum Trading Co. Ltd. |
| Seller | Novelis Inc. (subsidiary of Hindalco Industries Limited) |
| Buyer | Shenzhen Hongzhi Industrial Investment Co., Ltd. and/or affiliates |
| Agreement date | November 14, 2026 |
| Consideration | ~USD 265 million + contingent earn-out of USD 10 million |
| Expected closing | Within 12 months of execution date, subject to regulatory approvals |
| Net sales of entities (FY2026) | USD 376 million (~₹3,319 crore) — ~1% of Hindalco net sales |
| Net worth contribution (last FY) | USD 259 million (~₹2,420 crore) — ~2% of Hindalco net worth |
| Related party transaction | No |
Filing Details
The intimation has been filed by Geetika Anand, Company Secretary and Compliance Officer of Hindalco Industries Limited, dated November 15, 2026. The intimation has been submitted to BSE Limited, National Stock Exchange of India Limited, and Luxembourg Stock Exchange.
Hindalco Industries Limited is registered at 21st Floor, One Unity Center, Senapati Bapat Marg, Prabhadevi, Mumbai — 400013. The company's Corporate ID is L27020MH1958PLC011238.