Coca-Cola Eyes $1 Billion IPO for Indian Bottling Arm
Coca-Cola is considering an initial public offering (IPO) for its Indian bottling arm, Hindustan Coca-Cola Beverages Pvt. The proposed IPO could raise around $1 billion and value the bottling business at about $10 billion.
The listing would give Coca-Cola access to India's public markets and allow it to unlock value from its bottling operation in the country. The company is working with several investment banks, including Kotak Mahindra Capital Co., Citigroup Inc., JPMorgan Chase & Co., and Morgan Stanley, on the proposed IPO.
The potential offering could be made up largely of shares being sold by existing investors. While Coca-Cola is considering a December filing for the proposed initial public offering, the timing, valuation, and structure are not final and could change as deliberations continue.