Hindalco Industries' Subsidiary, Novelis Inc., Enters Subscription Agreement with AV Minerals

Hindalco Industries Ltd. announced that Novelis Inc., a wholly owned subsidiary, has entered into a subscription agreement with AV Minerals (Netherlands) N.V. AV Minerals, the sole shareholder of Novelis, agreed to purchase 13,33,333 common shares of Novelis for $19,99,99,950 at a price of $150 per share. This agreement is in accordance with Regulation 30 of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Novelis has filed a Form 8-K with the U.S. Securities and Exchange Commission, which can be accessed here. The information is also available on the websites of the Company and Novelis.