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Coca-Cola Co is considering filing a draft prospectus in December for an initial public offering (IPO) of its Indian bottling unit, people familiar with the matter told Bloomberg. The Atlanta-based drinks giant has also added Axis Capital Ltd and IIFL Capital Services Ltd to the roster of banks working on the Hindustan Coca-Cola Holdings Pvt Ltd deal, the report said, citing the same sources. It currently holds a 60% stake in Hindustan Coca-Cola Holdings (HCCH) after Indian conglomerate Jubilant Bhartia Group completed the purchase of a 40% stake in the bottler in 2025. HCCH and its operating subsidiary Hindustan Coca-Cola Beverages (HCCB) were established in 1997 and, as of March 31, operated a network of more than 2,000 distributors and reached over 1.7 million customers. HCCB operates 14 bottling plants across 10 states in India and works with eight co-packers. HCCB prepares, packages, distributes and sells both sparkling and still beverages, including Coca‑Cola, Thums Up, Sprite, Fanta, Limca, Maaza, Minute Maid and others, and is the market leader in non-alcoholic ready-to-drink beverages in the territory in which it operates. The IPO is expected to consist largely of shares sold by existing investors, with Coca-Cola seeking a valuation of about $10 billion, the people said. Bloomberg News has previously reported that the IPO could raise around $1 billion. Deliberations are ongoing, so details, including the timing, valuation, and structure of the offering, may change. Representatives for Coca-Cola and the banks did not immediately respond to Bloomberg's requests for comment. A listing would help Coca-Cola tap strong investor demand for new offerings in India while unlocking value from one of the country's largest bottling operations. While the secondary market is reeling under significant selling pressure, primary market activity remains robust, with companies lining up to list their stocks on exchanges. Proceeds from IPOs in India have reached almost $10 billion in July-September—the highest ever for the quarter—thanks to blockbuster offerings by National Stock Exchange of India Ltd. and SBI Funds Management Ltd. So far in 2026, 220 companies across the mainboard and SME segments have successfully listed their shares on stock exchanges, adding to the size of the Indian stock market. This follows a record 376 listings in 2025. Of all the IPOs that have listed in 2026, 136 stocks are trading in profit, while 84 are in the red, reflecting an overall average gain of 27.71%, Trendlyne data showed. (Disclaimer: The promoters of HT Media Ltd, which publishes Mint, and Jubilant Bhartia Group are closely related. There are, however, no promoter crossholdings.) Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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