Under Indian law the company is obliged to sell off part of the subsidiary, currently 100% owned by the Atlanta-based soft drinks corporation, to Indian investors. Until now, Coca-Cola has been attempting to gain an exemption or postponement.
INDIA: Coca-Cola opting for private share placement
The Indian subsidiary of the Coca-Cola Company has informed the government that it plans to place shares privately rather than float them in an initial public offering, according to a report in the Business Standard.