Coca-Cola India bottling arm HCCH files DRHP for IPO
In short
Hindustan Coca-Cola Holdings has filed papers for an IPO through an offer for sale of shares. The deal is expected to raise about $1 billion and value the company at $10 billion. Coca-Cola Company and Jubilant Bhartia Group hold major stakes after a recent stake sale.
The money from the IPO will go to the promoter selling shareholder, not to Hindustan Coca-Cola Holdings.
What the reporting says
Hindustan Coca-Cola Holdings has filed a DRHP for an initial public offering through an offer for sale of equity shares. The proposed deal is expected to raise about $1 billion at a valuation of $10 billion, according to the syndicated summary. Coca-Cola Company and Jubilant Bhartia Group hold significant stakes after a recent stake sale, and the IPO proceeds are set to go to the promoter selling shareholder rather than HCCH.
Why it matters
Hindustan Coca-Cola Holdings has filed a draft red herring prospectus for an IPO based on an offer for sale of equity shares. The syndicated summary says the issue could raise about $1 billion at a $10 billion valuation. Coca-Cola Company and Jubilant Bhartia Group are described as significant shareholders after a recent stake sale, while the offer proceeds are expected to benefit the promoter selling shareholder, not the company.