Hindustan Coca-Cola Beverages IPO: Coca-Cola Co. has invited investment banks to submit proposals for roles in the upcoming proposed initial public offering of its Indian bottling business, an issue that could raise approximately $1 billion, Bloomberg reported, as said by sources familiar with the development.
The pitches are scheduled to take place in London next week, where Rothschild & Co., acting as Coca-Cola’s financial adviser for the transaction, will meet with interested banks regarding the proposed stock market debut of Hindustan Coca-Cola Beverages Pvt., the sources stated, requesting anonymity as the discussions are confidential.
The Atlanta-headquartered beverage maker is seeking for a valuation of around $10 billion for the Indian bottling unit, the people added.
However, discussions are ongoing, and details regarding the IPO’s timeline, size, valuation, and structure could be revised, according to the people.
Spokespersons for Coca-Cola and Rothschild & Co. did not immediately respond to a request for comment.
This planned listing would join to a queue of multinational companies capitalising their Indian businesses through public markets to monetize on strong domestic investor demand by spinning off and listing their Indian operations.
Last year, LG Electronics Inc. listed its Indian subsidiary, following Hyundai Motor Co.’s record-breaking $3.3 billion Indian IPO in 2024.
According to its official website, Bengaluru-based Hindustan Coca-Cola is one of India’s largest soft-drink bottlers, catering to over 1.7 million retail outlets and employing a workforce of more than 5,000 employees. The company operates 14 production plants spanning 12 states, distributing products across 236 districts throughout southern and western India.
As part of its broader push to bring in a local strategic partner while scaling up in a fastest-growing market, Coca-Cola divested a minority stake in Hindustan Coca-Cola Beverages to India’s Jubilant Bhartia Group last year.
