New Delhi, June 25 -- Hindalco share price rose by over 1% during Wednesday's trading session following the announcement that its step-down wholly owned subsidiary, Aditya Holdings LLC, has entered into a definitive agreement to acquire a 100% interest in the US-based specialty alumina producer AluChem Companies Inc.

The deal was valued at an enterprise amount of USD$125 million (approximately Rs.1,074 crores), and the transaction is anticipated to be completed within the next 2 to 4 months.

In an exchange filing, the company announced its acquisition of AluChem Companies, Inc. This decision to acquire the company as a stepdown subsidiary is a strategic initiative aimed at broadening the Company's global presence for its downstream rang...