Hindustan Coca-Cola Holdings (HCCH), the parent company of Hindustan Coca-Cola Beverages (HCCB), is expected to file its draft red herring prospectus (DRHP) with the market regulator this week, Moneycontrol reported.
The proposed initial public offering (IPO) could lead to a stock market listing in 2027.
The public issue could raise approximately $1 billion, primarily through a stake sale, with the company seeking a valuation of around $10 billion.
As per the report, Axis Capital and IIFL Capital Services are among the investment bankers expected to manage the proposed offering, sources said.
HCCH has also appointed Rothschild & Co as an adviser for the listing process. The proposed IPO follows a major ownership restructuring completed in July 2025, when Jubilant Bhartia Group acquired a 40% stake in HCCH.
The Coca-Cola Company retained the remaining 60% shareholding. The company has described the potential listing as an important milestone in its refranchising strategy, aimed at strengthening the bottler's position in India's growing beverage market.
Sanket Ray, President, India and Southwest Asia and Emerging Large Markets Lead at The Coca-Cola Company, said the listing would support the bottler's future growth under its partnership with Jubilant Bhartia Group.
14 Bottling Plants Across India
Established in 1997, HCCB manufactures, packages, distributes and sells several popular beverage brands, including Coca-Cola, Thums Up, Sprite and Fanta.
The company operates 14 bottling plants across 10 Indian states. Its distribution network includes more than 2,000 distributors, serving over 1.7 million customers.
The bottler also employs approximately 5,000 people across its operations.
Jubilant Bhartia Group Chairman Shyam Bhartia and Co-Chairman Hari Bhartia expressed optimism about the proposed public listing, highlighting opportunities to create shareholder value.
They also reiterated their commitment to maintaining their partnership with The Coca-Cola Company.
The timing and final size of the IPO will depend on regulatory approvals, market conditions and the company's formal filing.
