Coca-Cola's India bottler Hindustan Coca-Cola files for IPO
KO•Hindustan Coca-Cola Holdings has filed for an IPO consisting entirely of a stake sale by its majority shareholder, which plans to offer up to 997.5 million shares. Revenue fell 9.4% to 115.49 billion rupees in the year to March 2026.
1. Stake sale details
Hindustan Coca-Cola Overseas Holdings plans to offer up to 997.5 million shares, reducing its stake in Hindustan Coca-Cola Holdings to about 45% from 60%. Jubilant Beverages, which owns the remaining 40%, is not selling shares, and no price band was disclosed.
2. Revenue and operations
The company's revenue fell 9.4% to 115.49 billion Indian rupees ($1.23 billion) in the year to March 2026. It attributed the decline to territories transferred to other Coca-Cola bottlers under its refranchising programme. Hindustan Coca-Cola bottles brands including Thums Up, Sprite and Maaza across 10 Indian states and four federal territories.
