Hindalco Industries and AluChem Companies Inc. have jointly terminated their agreement for the acquisition of AluChem’s specialty calcined and tabular alumina business after prolonged delays in completing the transaction.
Hindalco disclosed the termination through an exchange filing dated October 1, 2026. The proposed acquisition had been announced in June 2025 and subsequently received multiple updates as the companies extended the closing process.
The transaction was being pursued through Aditya Holdings LLC, a step-down wholly owned subsidiary of Hindalco. Both companies said the decision to terminate the agreement followed delays that were beyond their control.
Hindalco said the termination does not change its broader strategy for the specialty alumina business. The company remains focused on expanding technology-led, high-value and value-added alumina products and will continue evaluating opportunities, including in the United States, in line with its strategy.
AluChem will continue operating independently and serving customers across the specialty alumina value chain. The termination therefore does not represent a shutdown of AluChem’s operations or an integration of the business into Hindalco.
Hindalco shares closed at ₹944.40 on October 1, gaining 0.22% during the session, according to the report. The company had a market capitalisation of around ₹2.12 lakh crore. Its shares were about 20% below their 52-week high at the time, while the stock had declined around 7% over the preceding month.
The termination marks the end of a transaction process that had continued for roughly 16 months, while Hindalco’s specialty alumina expansion strategy remains unchanged.
