Coca-Cola appoints Kotak, Morgan Stanley, JPMorgan, Citi for HCCH IPO
Business
Coca-Cola is gearing up for a big move: It's picked Kotak, Morgan Stanley, JPMorgan, and Citi to lead the IPO of Hindustan Coca-Cola Holdings (HCCH).
This is likely to be a full offer-for-sale, so no new shares are coming in, just existing ones changing hands.
Right now, Coca-Cola holds around 60% of HCCH and Jubilant Bhartia Group owns the other 40%.
HCCH valuation expected near ₹82,500 cr
HCCH's value has skyrocketed, from about ₹31,250 crore when Jubilant Bhartia bought its stake in late 2024 to an expected nearly $10 billion (about ₹82,500 crore) at IPO.
The plan? Coca-Cola wants to slowly step back and become a minority shareholder.
The official process kicks off in the last week of July.