The Coca-Cola Company (KO) has disclosed that it is exploring the possibility of taking Hindustan Coca-Cola Holdings Pvt. Ltd. (HCCH), its Indian subsidiary, public in 2027. Furthermore, the company is considering divesting a portion of its stake in this entity.
HCCH functions as the parent company of Hindustan Coca-Cola Beverages Pvt. Ltd. (HCCB), which stands as the foremost bottler for Coca-Cola within India. Preparatory steps are currently underway for a potential listing on both the Bombay Stock Exchange and the National Stock Exchange of India, contingent upon favorable market conditions and the acquisition of requisite regulatory approvals.
In July of 2025, the Indian conglomerate Jubilant Bhartia Group acquired a 40% shareholding in HCCH. For advisory services concerning the listing process, The Coca-Cola Company has engaged the services of Rothschild & Co.
HCCH, along with its operational arm HCCB, was established in 1997. As of March 31st, the Company was overseeing a distribution network comprising over 2,000 distributors and reaching more than 1.7 million customers, supported by a workforce of approximately 5,000 employees. HCCB operates 14 beverage bottling plants spread across 10 Indian states and collaborates with eight contract manufacturers.
The bottler’s operations encompass the preparation, packaging, distribution, and sale of beverages, including popular brands such as Coca-Cola, Thums Up, Sprite, Fanta, Limca, Maaza, and Minute Maid. The company asserts its leadership position in the ready-to-drink non-alcoholic beverage market within its operational region.
“Under the stewardship of our trusted partners at Jubilant Bhartia Group, the bottler will be well-positioned for continued growth following the listing,” stated Sanket Ray, President of India, Southwest Asia, and Emerging Markets for The Coca-Cola Company.
Shyam and Hari Bhartia, Chairman and Co-Chairman of the Jubilant Bhartia Group respectively, conveyed their optimism that the public offering will result in value creation for all shareholders.
Further details pertaining to the potential listing will be disclosed at a later juncture, as indicated in the official press release.
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