Coca-Cola India’s bottling company to launch IPO:Filed draft papers with SEBI, will sell 100 crore shares; plans listing in 2027

Hindustan Coca-Cola Holdings Limited (HCCH) has filed its draft red herring prospectus (DRHP) for its IPO with market regulator SEBI. The company is the parent of Coca-Cola’s Indian bottling unit, Hindustan Coca-Cola Beverages (HCCB). Parent company to sell shares through OFS The company plans to list its shares on the BSE and NSE in 2027 through the IPO. The IPO will be entirely an offer for sale (OFS). Under the offer, Hindustan Coca-Cola Overseas Holdings Private Limited will sell approximately 100 crore (99,74,61,456) equity shares with a face value of ₹10 each. Morgan Stanley and Goldman appointed as IPO managers Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, Morgan Stanley India Company Private Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited and IIFL Capital Services Limited have been appointed as the book-running lead managers for this IPO. India is the company’s fifth-largest market globally India is the fifth-largest market in the world for this Atlanta-based beverage company. The company expects India could become its third-largest global market in the coming years. June 2026 quarter figures: Revenue up 20.46% The bottling company performed exceptionally well in the three months ended 30 June… Company structure and stake calculation HCCH operates its business primarily in southern and western India through its subsidiary HCCB. In 2025, Jubilant Beverages acquired a 40% stake in the company. HCCH currently holds a 60% majority stake, which will now be reduced to 45%. Focus on states with a population of 61.69 crore According to the DRHP, the total population of the company’s key selected states is approximately 61.69 crore. These regions include five of India’s eight largest metropolitan cities, and their per capita GDP is approximately 1.5 times the all-India average. The DRHP states that the value of the non-alcoholic ready-to-drink (NARTD) beverage market in these states stood at ₹63,730 crore in financial year 2026. It is expected to grow at a CAGR of 13.17% to reach ₹1,18,320 crore by financial year 2031. Expansion of Portfolio and Network According to the DRHP, the company has recently changed its strategy. This includes expanding its distribution network, broadening its product portfolio, and optimising its package-price architecture to fill gaps in the portfolio. What are DRHP and OFS?