Coca-Cola is reportedly exploring a potential initial public offering (IPO) for its Indian bottling arm, Hindustan Coca-Cola Beverages (HCCB). If successful, the IPO could raise about $1 billion and value the unit at nearly $10 billion, according to a report by Bloomberg.

Coca-Cola has met with investment bankers in recent weeks to evaluate options for the public listing, but has not yet appointed any official advisors, the report read.

If approved, the IPO could take place as early as next year, though the timing, structure, and size of the offering are still under consideration.

India's IPO Boom

The move would bring one of the world's most iconic brands to India's booming IPO market, which is on track for record listings this year and is displaying strong momentum heading into 2026, with big names including Reliance Jio also preparing to list.

Lately, foreign companies have found success in listing their Indian units. Both Hyundai Motor's $3.3 billion market debut last year and LG Electronics' $1.3 billion IPO earlier this month saw strong listing gains.

HCCB, headquartered in Bengaluru, employs over 5,200 people and operates 14 manufacturing plants across 12 states, serving more than 2 million retailers nationwide.

Last November, Coca-Cola sold a 40% stake in HCCB's parent firm, Hindustan Coca-Cola Holdings to Jubilant Bhartia Group.

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