Coca-Cola’s Indian Bottler HCCH Files for IPO; Nearly 100 Crore Shares on Offer
The issue is a pure offer for sale by Coca-Cola's overseas holding arm; June-quarter revenue rose 20.46% to ₹4,310.17 crore, according to the draft papers.
Hindustan Coca-Cola Holdings Ltd (HCCH), the parent of Coca-Cola’s bottling business in India, has filed its draft red herring prospectus with SEBI for an initial public offering.
The papers were filed on 6 November. The IPO will be entirely an offer for sale of up to 99,74,61,456 equity shares of ₹10 face value by the promoter, Hindustan Coca-Cola Overseas Holdings Pte Ltd. Because no new shares are being issued, HCCH will not receive any money from the sale. The price band and the size of the issue in rupees have not yet been announced. The shares are proposed to be listed on both BSE and NSE.
Ownership: The Coca-Cola Company currently owns 60% of HCCH through its overseas holding company, and Jubilant Beverages, which bought in during 2025, holds the other 40%. After the IPO, Coca-Cola’s stake is expected to fall to about 45%, while Jubilant’s holding is unchanged.
Numbers: For the quarter ended 30 June 2026, revenue from operations rose 20.46% year on year to ₹4,310.17 crore, and sales volumes grew 18.61%. EBITDA margin improved to 17.20% from 13.76% a year earlier.
The company operates through its subsidiary Hindustan Coca-Cola Beverages, mainly in southern and western India, across 10 states and four Union Territories. It sells 41 drinks, including Thums Up, Maaza and Kinley, through about 17 lakh retail outlets and 2,273 distributors, and runs 14 production facilities with 90 bottling lines.
Kotak Mahindra Capital, Citigroup, JP Morgan, Morgan Stanley, Axis Capital, Goldman Sachs and IIFL Capital Services are the book-running lead managers.
This report is for information only and is not investment advice.
Image: Soft drink stand, Rishikesh.jpg by David Lisbona, CC BY 2.0, via Wikimedia Commons
Sources
Related
SEBI’s New Settlement Rules Take Effect: ₹3 Lakh Is Only the Floor, Not the Price
E20 Petrol Row: Centre Rejects Karnataka’s 31% Ethanol Claim, Says All 893 Samples Passed
