India: Coca-Cola explores Hindustan Coca-Cola Holdings public listing

Coca-Cola, the US total beverage firm, has announced it is exploring a potential public listing in India for Hindustan Coca-Cola Holdings (HCCH). According to a company statement, the potential listing on the Bombay Stock Exchange and National Stock Exchange of India is targeted for 2027.

The move will involve selling a portion of The Coca-Cola Company’s shareholding in HCCH, which is the parent company of Hindustan Coca-Cola Beverages(HCCB), its largest bottler in India. The transaction follows a July 2025 deal where Jubilant Bhartia Group, an Indian family-owned conglomerate, acquired a 40% stake in HCCH.

Sanket Ray, president, India and Southwest Asia and emerging large markets lead for The Coca-Cola Company, commented: “Under the leadership of our trusted partners in Jubilant Bhartia Group, following the listing the bottler will be well placed to continue to pursue growth”.

Established in 1997, HCCH and its operating subsidiary HCCB operate 14 bottling plants across 10 Indian states. The company prepares, packages, distributes and sells sparkling and still beverages, including Coca-Cola, Sprite and Fanta. Coca-Cola has retained Rothschild & Co to advise on the potential listing.

Source: Coca-Cola