Coca-Cola Considers $10 Billion Valuation for Indian Unit IPO
Coca-Cola is exploring a possible initial public offering (IPO) of its Indian bottling subsidiary, Hindustan Coca-Cola Beverages. The company is evaluating a December draft prospectus filing for the potential listing, according to Bloomberg News.
The proposed IPO would largely consist of existing shareholders selling part of their stakes, with a valuation of around $10 billion for Hindustan Coca-Cola Beverages. A prior report indicated that the share sale could raise approximately $1 billion.
Coca-Cola has brought in additional banks to advise on the potential offering, including Axis Capital and IIFL Capital Services. The company's advisors now include Kotak Mahindra Capital, Citigroup, JPMorgan, Morgan Stanley, as well as Axis Capital and IIFL Capital Services.