35
/ 2
Min Read
Hindustan Coca-Cola Holdings Ltd (HCCH), backed by The Coca-Cola Company and Jubilant Beverages, has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO), as shared in media reports. The DRHP is dated November 6.
The proposed IPO comprises an offer for sale (OFS) of up to 99,74,61,456 equity shares with a face value of INR 10 each by promoter Hindustan Coca-Cola Overseas Holdings Pte Ltd. Since the issue is entirely an OFS, HCCH will not receive any proceeds from the IPO. The net proceeds, after deducting offer-related expenses, will go to the selling shareholder.
The company has not disclosed the proposed issue size or price band. The shares are proposed to be listed on the BSE and NSE, with the IPO being conducted through the book-building process.
The Coca-Cola Company holds a 60% stake in HCCH through its Singapore-based subsidiary, while Jubilant Beverages owns the remaining 40%. HCCH operates through its material subsidiary, Hindustan Coca-Cola Beverages Pvt Ltd (HCCB), which manufactures, packages, distributes and sells beverages across 10 states and four Union Territories, primarily in southern and western India.
According to the TKC report cited in the DRHP, HCCH was the largest non-alcoholic ready-to-drink beverage company by revenue operating exclusively in India in FY26. The company operates 14 manufacturing facilities.
Kotak Mahindra Capital, Citigroup Global Markets India, J.P. Morgan India, Morgan Stanley India, Axis Capital, Goldman Sachs (India) Securities and IIFL Capital Services have been appointed as book-running lead managers for the issue. KFin Technologies will serve as the registrar.
