Coca-Cola Invites Banks For ₹9,500 Crore India IPO

Coca-Cola has invited investment banks to pitch for roles on the planned initial public offering (IPO) of its Indian bottling unit, Hindustan Coca-Cola Beverages, in a deal that could raise about $1 billion, or around ₹9,500 crore, according to people familiar with the matter.

Presentations are scheduled to take place in London next week. Rothschild & Co., which is advising Coca-Cola on the transaction, will meet prospective investment banks for the proposed listing.

Valuation Of About $10 Billion

The Atlanta-based beverage maker is seeking a valuation of about $10 billion for its Indian bottling business, they added. Discussions are still ongoing. The timing, issue size, valuation, and structure of the IPO could change before the company proceeds with the listing, according to the people. The proposed IPO would add another multinational company to India's active primary market.

Global companies have increasingly looked to list their Indian businesses to benefit from strong domestic investor demand. Last year, LG Electronics listed its Indian unit. In 2024, Hyundai Motor Co. raised about $3.3 billion through India's largest-ever IPO.

Hindustan Coca-Cola's Business

Headquartered in Bengaluru, the company supplies beverages across southern and western India. According to the company's website, Hindustan Coca-Cola Beverages is one of India's largest soft-drink bottlers. The table highlights its operation metrics:

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Strategic Stake Sale

Last year, Coca-Cola sold a minority stake in Hindustan Coca-Cola Beverages to Jubilant Bhartia Group. The company said the transaction was part of its strategy to bring in a local strategic partner while continuing to expand in India, one of its fastest-growing markets.