Coca-Cola Taps Indian Market with $10B Valuation IPO Plan

Coca-Cola is considering an initial public offering (IPO) for its Indian bottling unit, Hindustan Coca-Cola Beverages Pvt. The Atlanta-based drinks giant aims to file a draft prospectus in December.

The IPO will likely consist of shares sold by existing investors and could raise around US$1 billion. This comes after Bloomberg News reported that the valuation for this deal is expected to be about US$10 billion.

Coca-Cola has added Axis Capital Ltd and IIFL Capital Services Ltd to its roster of banks working on the deal, which also includes Kotak Mahindra Capital Co, Citigroup Inc, JPMorgan Chase & Co, and Morgan Stanley.