Coca-Cola India, currently the wholly-owned Indian subsidiary of the Coca-Cola Co., is set to meet its deadline for selling off a 49% stake in the company to Indian investors.

Having opted for a private placement of shares rather than a public offering, the company is currently finalising the sale of the 49% to to bottlers and financial institutions. It expects to meet the deadline of August 17 set by the government.

The company's requests for a waiver or postponement of the mandatory divestment were rejected by the Indian Commerce and Industry Ministry which gave the company a month to August 17 to comply with the requirements.