Coca-Cola Eyes $1 Billion IPO for Indian Bottling Unit

Coca-Cola is considering filing for an initial public offering (IPO) of its Indian bottling unit, Hindustan Coca-Cola Beverages Pvt, in December. The IPO is expected to raise around $1 billion and will consist largely of shares sold by existing investors. The Atlanta-based drinks giant is seeking a valuation of about $10 billion for the deal.

The company has added Axis Capital Ltd and IIFL Capital Services Ltd to the roster of banks working on the Hindustan Coca-Cola Beverages Pvt deal, alongside Kotak Mahindra Capital Co, Citigroup Inc, JPMorgan Chase & Co, and Morgan Stanley. This comes as India sees a surge in IPOs, with proceeds reaching almost $10 billion in July-September.

The IPO is expected to help Coca-Cola tap into strong investor demand for new offerings in India, while unlocking value from one of the country's largest bottling operations. However, deliberations are ongoing, and details such as timing, valuation, and structure may change.