During early trading on Wednesday, Hindalco Industries, a prominent metals company within the Aditya Birla Group, saw its shares surge by 5% to reach ₹538 each. This increase in value comes after the company's decision to initiate the process of taking its US subsidiary, Novelis Inc., public. Hindalco Industries, a key player in the metals sector within the Aditya Birla Group, witnessed a 5% surge in its shares to reach ₹538 apiece during Wednesday's early trading session. This rise in stock value follows an announcement from the company's wholly owned subsidiary, Novelis Inc., made on Tuesday. Novelis, known for its production of flat-rolled aluminium products, revealed that it has made a confidential filing for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC) for its proposed IPO. In a statement, Hindalco stated, "Novelis Inc., a leading sustainable aluminum solutions provider and the world leader in aluminum rolling and recycling, today announced that it has confidentially submitted a draft registration statement on Form F-1 with the Securities and Exchange Commission (the SEC) relating to the proposed initial public offering of its common shares."