Coca-Cola India Considers Filing Draft Papers for Bottling Unit IPO in December

Coca-Cola Co is reportedly considering filing a draft prospectus in December for an initial public offering of its Indian bottling unit, Hindustan Coca-Cola Holdings, targeting a valuation of about $10 billion.

The drinks giant has added Axis Capital and IIFL Capital Services to the roster of banks managing the deal, which could potentially raise around $1 billion.

Hindustan Coca-Cola Beverages operates 14 bottling plants across 10 states and holds a dominant market share in non-alcoholic ready-to-drink beverages in its operating territory.