Coca-Cola eyes $1 billion IPO for Hindustan Coca-Cola Beverages
Business
Coca-Cola is gearing up to take its Indian bottling unit, Hindustan Coca-Cola Beverages, public with an IPO after considering filing a draft prospectus in December.
It is looking to raise about $1 billion, valuing the company at a cool $10 billion.
This big move comes as India's IPO scene is buzzing, with record-breaking investments pouring in this year.
India's stock market raised $13bn
India's stock market has seen over $13 billion raised from nearly 250 IPOs lately, one of its best years ever.
By considering filing a draft prospectus in December, Coca-Cola hopes to ride this wave and make the most of the current excitement among investors.
Financial heavyweights like Axis Capital and IIFL are helping steer the deal.