June 4 (Reuters) - Novelis, owned by Indian billionaire Kumar Mangalam Birla's Hindalco Industries on Tuesday it postponed its initial public offering citing market conditions.

"Novelis will continue to evaluate the timing of the offering in the future," it said in a statement.

(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Nivedita Bhattacharjee)