Coca-Cola Co. is considering filing a draft prospectus in December for an initial public offering of its Indian bottling unit, Hindustan Coca-Cola Beverages Pvt.
The company added Axis Capital Ltd. and IIFL Capital Services Ltd. to the roster of working banks, joining Kotak Mahindra Capital, Citigroup, JPMorgan, and Morgan Stanley.
The offerings are expected to raise around $1 billion, with Coca-Cola seeking a valuation of about $10 billion largely through shares sold by existing investors.