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Coca-Cola Co has taken a step forward in its plans to list its Indian bottling arm, Hindustan Coca-Cola Beverages (HCCB), by beginning the process of appointing investment banks for the proposed initial public offering (IPO).
The beverage giant is targeting a valuation of nearly $10 billion for HCCB and is expected to raise around $1 billion (approximately ₹9,500 crore) through the public issue.
As part of the banker selection process, adviser Rothschild & Co has scheduled pitch presentations with prospective investment banks in London next week to finalise advisory roles for the transaction.
Hindustan Coca-Cola Beverages (HCCB) is among India's largest soft drink bottlers, with an extensive nationwide manufacturing and distribution network. Headquartered in Bengaluru, the company reaches more than 1.7 million retail outlets and has a workforce of over 5,000 employees.
HCCB operates 14 manufacturing facilities spread across 12 states and distributes its beverage portfolio across 236 districts nationwide.
Earlier in 2025, Coca-Cola divested a minority stake in HCCB to India's Jubilant Bhartia Group as part of its long-term strategy to progressively franchise its bottling operations in the country.
