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Coca-Cola said it is exploring a potential IPO in India for Hindustan Coca-Cola Beverages in 2027, alongside a partial stake sale, marking a key step in the refranchising of its bottling operations amid rising competition in the Indian beverage market
The Coca-Cola Company said on Monday it is exploring a potential initial public offering (IPO) in India for its bottling holding entity, Hindustan Coca-Cola Beverages, in a move that underscores the company’s deepening focus on one of its fastest-growing markets.
The company said it is preparing for a listing on the Bombay Stock Exchange and the National Stock Exchange of India next year, while also considering the sale of a portion of its shareholding in the unit as part of the transaction.
The proposed listing would mark a major milestone in the refranchising of Coca-Cola’s India bottling operations, which have been steadily restructured over recent years to bring in local partners and unlock value.
Indian conglomerate Jubilant Bhartia Group completed the acquisition of a 40 per cent stake in Hindustan Coca-Cola Beverages last year, strengthening its position as a key operating partner in the bottling ecosystem.
Bloomberg News had previously reported that a potential listing could value the bottling business at around $10 billion.
Founded in 1997, Hindustan Coca-Cola Beverages operates as Coca-Cola’s largest bottling network in India, with extensive distribution reach across millions of retail outlets.
First Published:
June 02, 2026, 05:19 IST
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