Hindustan Coca-Cola Holdings files ₹9,500 cr offer for sale IPO
Hindustan Coca-Cola Holdings (HCCH), the company behind bottling and selling Coke, Thums Up, and Sprite in India, is planning a massive IPO, worth about $1 billion (₹9,500 crore).
They've just filed papers with the Securities and Exchange Board of India (SEBI) to get things rolling.
This IPO is an offer for sale, so no new shares are being created; it's more about current owners selling part of their stake.
HCCH 60% Coca-Cola 40% Jubilant Bhartia
HCCH is the country's biggest non-alcoholic beverage player by revenue, mainly serving southern and western India.
The company is 60% owned by The Coca-Cola Company itself and 40% by Jubilant Bhartia Group.
Big financial names like Kotak Mahindra Capital and J.P. Morgan are managing the IPO process, though since it's just an offer for sale, HCCH won't get fresh funds from this move.