Coca-Cola Mulls Filing Draft Papers for $1 Billion India IPO
· Business · Economic Times, LiveMint
Coca-Cola Co. is considering filing a draft prospectus in December for an initial public offering of its Indian bottling unit, Hindustan Coca-Cola Beverages Pvt. The Atlanta-based beverage giant is targeting a valuation of about $10 billion for the deal, which is projected to raise roughly $1 billion largely through shares sold by existing investors. The company has added Axis Capital Ltd. and IIFL Capital Services Ltd. to a banking roster that already includes Kotak Mahindra Capital Co., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley. This potential offering rides a wave of record Indian equity fundraising, with IPO proceeds crossing $10 billion between July and September. Deliberations remain ongoing, meaning the final timing, valuation and structure of the offering could change.
Why it matters
The proposed $1 billion listing unlocks value from one of India's largest bottling operations and tests investor appetite for mega-cap consumer goods offerings.
Read the original report — Economic Times
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