The Coca-Cola Company is preparing for a potential public listing in India of the parent of bottler Hindustan Coca-Cola Beverages (HCCB).
In a statement yesterday (1 June), The Coca-Cola Company said it is considering a possible public listing for Hindustan Coca-Cola Holdings (HCCH) next year.
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Through the listing, the US group would sell part of its stake in HCCH.
The move follows the acquisition of a 40% stake in HCCH by Indian family-owned conglomerate Jubilant Bhartia Group last July.
The Coca-Cola Company said the possible listing will mark a “significant milestone”, positioning the business “well to capitalise on the opportunities in the Indian market”.
Early work has begun on a possible flotation on India’s Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), with the plans being subject to market conditions and regulatory and other approvals.
Sanket Ray, the president of The Coca-Cola Company’s operations in India and south-west Asia, said: “This announcement is another important step for HCCB.
“Under the leadership of our trusted partners in Jubilant Bhartia Group, following the listing the bottler will be well placed to continue to pursue growth.
“The Coca-Cola Company will stay invested in this important bottler and focus on growing our portfolio of global and local brands in India.”
HCCB and its parent were established in 1997. As of 31 March, the group operated with more than 2,000 distributors and employs around 5,000 staff.
The bottler runs 14 plants across ten Indian states and works with eight co-packers. It manufactures, packages, distributes and sells The Coca-Cola Company’s portfolio including brands such as Coca-Cola, Thums Up, Sprite and Fanta.
