
The company plans to list it on the BSE and NSE in 2027 and may sell part of its ownership through the IPO.
Currently, Coca-Cola owns a 60% stake in the company after Jubilant Bhartia Group bought the remaining 40% in 2025.
The company has picked four lead managers, and the names on the mandate are JPMorgan, Citi, Kotak Mahindra Capital, and Morgan Stanley, as per the online news source.
About the company
Founded in 1997, Hindustan Coca-Cola Holdings operates 14 bottling plants across 10 Indian states and is responsible for manufacturing, packaging, distributing, and selling beverages, including Coca-Cola, Thums Up, Sprite, and Fanta.
Sources say Coca-Cola counts India as a major growth market. It reported sales of 50 billion rupees ($526.37 million) in 2024-25, its highest since at least 2021.
The company is also facing increasing competition from Reliance Consumer Products’ Campa Cola brand. According to a Bloomberg report, the IPO could value the bottling business at around $10 billion. Coca-Cola has appointed Rothschild as its advisor for the proposed listing.
As per the sources, “the Coca-Cola Company will stay invested in this important bottler and focus on growing our portfolio of global and local brands in India,” said Sanket Ray, Coca-Cola president for India and Southwest Asia and emerging large markets lead.