Business · India Bureau
Coca-Cola eyes December IPO filing for India bottling arm
Coca-Cola is preparing to launch an initial public offering for its Indian bottling subsidiary, with plans to file documents as early as December. The beverage giant has expanded its banking syndicate to include Axis Capital Ltd. and IIFL Capital Services Ltd. to advise on the potential $1 billion transaction.
LSN India ·
Coca-Cola is reportedly moving forward with plans to launch an initial public offering for Hindustan Coca-Cola Beverages Pvt Ltd, with a potential December filing on the horizon. The Atlanta-headquartered multinational is targeting a valuation of around $1 billion for the public markets debut of its key Indian bottling operations.
To manage the transaction, Coca-Cola has bolstered its roster of investment banks advising on the deal. Axis Capital Ltd. and IIFL Capital Services Ltd. have been brought on to the syndicate working on the offering, joining other financial institutions already engaged in the process.
The IPO would mark a significant milestone for Coca-Cola's operations in India, one of its most strategically important emerging markets. By taking the bottling unit public, the company seeks to unlock value from its Indian business while maintaining operational control through its majority stake.
A December filing would position the offering for potential listing in early 2024, though market conditions and regulatory approvals could influence the timeline. The move reflects broader industry trends of multinational beverage companies increasingly seeking to monetize their bottling infrastructure through public markets.