Coca-Cola explores listing of India bottling unit in 2027

Coca-Cola said on Monday it was exploring a potential initial public offering in India for Hindustan Coca-Cola Holdings, the parent of its largest bottler in the country.

The beverage giant is preparing to list the bottling ‌unit on India’s ⁠BSE and ⁠the National Stock Exchange in 2027 and is exploring the sale of a portion of its stake in the bottler, it added.

It currently holds a 60% stake in Hindustan Coca-Cola Holdings after Indian conglomerate Jubilant Bhartia Group completed the purchase of a 40% stake ⁠in the ‌bottler in 2025.

The bottler, established in 1997, operates 14 bottling plants across 10 states in ⁠India and packages, distributes, and sells beverages, including Coca-Cola, Thums Up, Sprite, and Fanta.

“The Coca-Cola Company will stay invested in this important bottler and focus on growing our portfolio of global and local brands in India,” said Sanket Ray, Coca-Cola president for India and Southwest Asia and emerging large ‌markets lead. Coca-Cola counts India as a major growth market. It reported sales of 50 billion rupees ($526.37 million) in ⁠2024-25, its highest since at least 2021. The drinks giant has been facing competition in India from Reliance’s consumer-product brand Campa Cola. Bloomberg News reported last year that an IPO would value the Coca-Cola bottling unit at $10 billion.

Coca-Cola said it retained Rothschild to advise on the listing.

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