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Intriguing IPOs: Novelis Inc. (NVL)
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Intriguing IPOs: Novelis Inc. (NVL)

The aluminum fabricator is forging a unique path with metals recycling.

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Misfit Alpha
Jun 04, 2024
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Intriguing IPOs: Novelis Inc. (NVL)
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The Forge of Vulcan, Theodoor van Thulden, 1649, oil on canvas (Palais Huis ten Bosch)

You never know what will fall from the IPO tree after a stiff breeze. So far, the 2024 harvest has been much more fruitful than 2023. Of the 77 companies that have gone public so far this year, 30% have produced returns better than the S&P 500’s 11.4% year-to-date performance, compared to the 12% of IPOs that beat the market in 2023.

I realize that this is probably the whims of the market, but I do think there is something to the quality of companies going public this year compared to last year.

This week, a couple of interesting companies are going public, which I may touch on later. But one I wanted to focus on, in particular, is Novelis. After all, there aren’t many companies going public that have the label “world’s largest” attached to them.

Let’s dig in.


Shoutout to Koyfin for their data and charts. Koyfin has become an integral part of how I screen for, track, and analyze companies. It has made the analysis process much faster thanks to having a decade of data at my fingertips instead of manually going through stacks of quarterly and annual filings.

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