Stocks
Coca-Cola Eyes Billion-Dollar IPO for Indian Bottling Unit
Coca-Cola is considering an initial public offering (IPO) for its Indian bottling unit, which could raise around $1 billion.
The Atlanta-based drinks giant has added Axis Capital Ltd. and IIFL Capital Services Ltd. to the roster of banks working on the Hindustan Coca-Cola Beverages Pvt deal.
The IPO is expected to consist largely of shares sold by existing investors, with Coca-Cola seeking a valuation of about $10 billion.
A listing would help Coca-Cola tap strong investor demand for new offerings in India, while unlocking value from one of the country's largest bottling operations.