Prime Highlights
- Coca-Cola moves toward one of India’s largest beverage sector IPOs, targeting about $1 billion.
- The company seeks a $10 billion valuation for its Indian bottling unit, among the highest in the sector this year.
Key Facts
- Rothschild & Co. is advising Coca-Cola on the planned listing of Hindustan Coca-Cola Beverages Pvt.
- Bank presentations for the IPO are scheduled to take place in London next week.
Background
Coca-Cola Co. has invited investment banks to pitch for roles on the planned initial public offering of its Indian bottling unit, in a deal that could raise about $1 billion, according to people familiar with the matter.
The Atlanta-based beverage maker is seeking a valuation of roughly $10 billion for its Indian bottling business as part of the proposed listing.
The presentations are scheduled to take place in London next week, where Rothschild & Co., the company’s adviser on the transaction, will meet prospective banks to discuss the planned listing of Hindustan Coca-Cola Beverages Pvt.
The people spoke on condition of anonymity because the discussions remain private. Deliberations are ongoing, and details including the timing, size, valuation and structure of the IPO could still change before a final decision is made.
The move would mark one of the largest listings tied to India’s beverage sector, reflecting continued global investor interest in the country’s consumer goods market and its scale of demand.
Coca-Cola’s Indian bottling arm handles distribution across the country, supplying and packaging its beverage lineup for one of its largest emerging markets.
A listing of this size would put Hindustan Coca-Cola Beverages among the bigger consumer sector offerings from India in recent years, drawing interest from both local and overseas investors watching the country’s consumption growth.
The planned IPO comes as several global consumer companies look for ways to unlock value from their India operations, given the country’s expanding middle class and rising demand for packaged beverages.
If the listing goes ahead as planned, it would count among the largest India-focused offerings from a multinational beverage company so far.
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