Hindustan Coca-Cola Holdings (HCCH), the parent company for Indian Coca Cola bottler Hindustan Coca-Cola Beverages, is likely to file its draft red herring prospectus (DRHP) with the market regulator this week, according to sources. The listing will likely occur in 2027.
Some of the key investment bankers making up the issue's syndicate are Axis Capital and IIFL Capital Services, the same sources added. A report by Bloomberg suggested that the issue size could be around $1 billion, which would largely be a stake-sale, with the firm seeking valuation of $10 billion.
The company has retained Rothschild & Co to advise on the listing.
In July 2025, the Coca-Cola Company completed a transaction in which Jubilant Bhartia Group acquired a 40% stake in HCCH, while the firm retained 60%. "The potential listing will be a significant milestone, completing the refranchising of HCCH and positioning it well to capitalize on the opportunities in the Indian market," said the company in a media statement.
"This announcement is another important step for HCCB,” said Sanket Ray, president, India and Southwest Asia and Emerging Large Markets Lead for The Coca-Cola Company. “Under the leadership of our trusted partners in Jubilant Bhartia Group, following the listing the bottler will be well placed to continue to pursue growth."