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🥤 Coca-Cola Begins IPO Preparations for Its Indian Bottling Arm, HCCB
Coca-Cola has initiated preparations for the IPO of its Indian bottling subsidiary, Hindustan Coca-Cola Beverages (HCCB).
Key Highlights:
- 📌 Parent company Hindustan Coca-Cola Holdings (HCCH) has appointed Kotak Mahindra Capital, Morgan Stanley, J.P. Morgan, and Citigroup as advisors for the proposed IPO.
- 📌 The issue is expected to be a pure Offer for Sale (OFS), with no fresh equity issuance.
- 📌 Shareholding Pattern:
- Coca-Cola Group – 60%
- Jubilant Bhartia Group – 40%
- 📌 In December 2024, Jubilant Bhartia Group acquired its 40% stake in HCCB for ₹12,650 crore.
- 📌 The transaction valued HCCB at an Enterprise Value (EV) of approximately ₹31,250 crore.
HCCB is one of India’s largest beverage bottlers, manufacturing and distributing Coca-Cola’s portfolio of brands, including Coca-Cola, Thums Up, Sprite, Fanta, Maaza, Limca, Kinley, Minute Maid, and Charged.
This could become one of the most closely watched IPOs in the Indian consumer sector.