Coca-Cola Prepares $1 Billion Indian Bottling Unit IPO
Coca-Cola is planning to list its Indian bottling business on the stock market in December, aiming to raise around $1 billion. The move would value the business at approximately $10 billion.
The company has added Axis Capital and IIFL Capital Services to the banks working on the share offering, which also includes Kotak Mahindra Capital, Citigroup, JPMorgan, and Morgan Stanley. This comes as India's IPO market is experiencing an unusually active period, with companies raising almost $10 billion from IPOs between July and September.
Hindustan Coca-Cola Beverages operates the bottling and distribution infrastructure for Coca-Cola in India. A listing would establish a public valuation for the business while allowing existing shareholders to sell part of their holdings.