Coca-Cola is reportedly considering filing a draft prospectus in December for an initial public offering of Hindustan Coca-Cola Beverages (HCCB), its Indian bottling arm. The potential IPO could raise approximately $1 billion. The company is seeking a valuation of around $10 billion for the business.
The offering comes as India’s IPO market has seen record fundraising in the latest quarter. It is expected to consist mainly of share sales by existing investors.
Discussions are ongoing, and details could change. Coca-Cola has reportedly appointed Axis Capital, IIFL Capital Services, Kotak Mahindra Capital, Citigroup, JPMorgan, and Morgan Stanley to manage the transaction.