Synopsis
Coca-Cola is considering a public listing in India for the parent company of its largest bottler, Hindustan Coca-Cola Holdings (HCCH), with a potential 2027 debut on Indian stock exchanges. The move aims to complete the refranchising of HCCH and position it for growth in the Indian market. The company has appointed Rothschild & Co to advise it on the listing.
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P.A.Coca-Cola currently owns 60% of HCCH after selling a 40% stake to Jubilant Bhartia Group in July 2025.Coca‑Cola Company plans to IPO in India Hindustan Coca‑Cola Holdings Pvt Ltd (HCCH), parent company of its largest bottler in India, Hindustan Coca‑Cola Beverages (HCCB), the Atlanta-based beverage maker announced on Tuesday.
The manufacturer of Coke And Elf sparkling drinks and Minute Maid juices said in a statement that the potential listing is expected in 2027, with the sale of part of its stake in HCCH in connection with the listing.
Coca-Cola currently owns 60% of HCCH after selling a 40% stake to Jubilant Bhartia Group in July 2025.
“Early preparations are being made for a possible listing on the Bombay Stock Exchange and the National Stock Exchange of India, subject to market conditions and applicable regulatory and other approvals,” the statement said.
The company said the potential listing “will be an important milestone, completing HCCH’s refranchising and positioning it well to capitalize on opportunities in the Indian market.”
Sanket Ray, president of India and South West Asia and head of large emerging markets at The Coca‑Cola Company, called the move “another important milestone for HCCB. Post-listing, the bottler will be well positioned for further growth.”
HCCH and its operating subsidiary HCCB, established in 1997, operated a network of more than 2,000 distributors and reached more than 1.7 million customers as of March 31, 2026. The company has 5,000 employees and operates 14 bottling plants in addition to eight contract packers.
The Coca-Cola Company has retained Rothschild & Co to advise on the listing, it said, adding that “further details of the potential listing will be announced at a later date.”
Rival PepsiCothe bottling operator Varun Beverages Ltd. (VBL) made its stock market debut in November 2016.
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