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Coca-Cola Prepares to File Indian Bottling Subsidiary IPO in December
Coca-Cola is planning to file a draft prospectus in December for an initial public offering of its Indian bottling subsidiary, Hindustan Coca-Cola Beverages Pvt Ltd.
The IPO will largely comprise an offer for sale by existing investors, with Coca-Cola seeking a valuation of around USD 10 billion for the bottling business.
According to sources, Axis Capital Ltd and IIFL Capital Services Ltd have been added to the list of investment banks involved in the proposed transaction.
Coca-Cola is also working with Kotak Mahindra Capital Co, Citigroup Inc, JPMorgan Chase & Co, and Morgan Stanley on the proposed IPO.