Coca-Cola Exploring Plans to List Indian Bottler, Hindustan Coca‑Cola Holdings Pvt. Ltd., by 2027

The Coca-Cola Company, in a press release on Monday, has confirmed it is exploring a potential IPO for Hindustan Coca-Cola Holdings Pvt. Ltd. (HCCH), the parent company of its largest Indian bottler. 

The company is targeting a listing on India's Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) as early as 2027.  

A Restructuring Years in the Making

The plan for a potential listing started in December 2024, when Coca-Cola signed a deal with the Jubilant Bhartia Group, the Indian family-owned conglomerate best known as the sole operator and master franchisee of Domino's Pizza in India, to sell it a 40% stake in HCCH. 

The transaction closed in July 2025, valued at approximately ₹12,500 crore. 

With that deal complete, Coca-Cola now holds a 60% stake in HCCH, while Jubilant Bhartia holds the remaining 40%. 

Who Is HCCH?

Hindustan Coca-Cola Holdings Pvt. Ltd. was established in 1997 and serves as the holding entity for Hindustan Coca-Cola Beverages Pvt. Ltd. (HCCB), the largest Coca-Cola bottler in India by scale. It is also among the top 5 leading beverage manufacturers in India.

HCCB operates 14 bottling plants across 10 states. Its product portfolio includes some of the country's most recognised beverage brands: Coca-Cola, Thums Up, Sprite, Fanta, and Limca. 

India is currently Coca-Cola's fifth-largest global market, and the company has reported its highest revenue in India in at least five years. In FY 2025, their net profit rose 46.3% to ₹615 crore, while the revenue was at ₹5,042.56 crore. 

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