Coca-Cola’s bottling arm in India HCCH files for IPO

New Delhi-based Hindustan Coca-Cola Holdings (HCCH) has filed draft papers to raise funds through an initial public offering (IPO). The proposed transaction is an offer for sale of 99.75 crore equity shares with a face value of INR 10 each by the promoter, Hindustan Coca-Cola Overseas Holdings.The transaction is managed by a consortium of book-running lead managers, including Kotak Mahindra Capital Company, Citigroup Global Markets India, J.P. Morgan India, Morgan Stanley India, Axis Capital, Goldman Sachs (India) Securities, and IIFL Capital Services.The company currently operates with two promoters: Hindustan Coca-Cola Overseas Holdings, which holds a 60% stake, and Jubilant Beverages, which holds 40%.HCCH is the parent and holding company for Hindustan Coca-Cola Beverages (HCCB), which is the largest bottling, packaging, and distribution partner for The Coca-Cola Company in India. The company oversees a network of 14 production facilities and 8 co-pack units. Its product portfolio includes brands such as Thums Up, Coca-Cola, Maaza, Kinley, Minute Maid, and Sprite.For the three-month period ending June 30, the company reported revenue from operations of INR 4,310.17 crore, representing a year-on-year growth of 20.46%, alongside an 18.61% increase in sales volume.