Coca-Cola India files for $1.2b IPO

Hindustan Coca-Cola Holdings has filed draft papers for an Indian IPO worth about $1.2 billion, The Express Tribune reported. The offer would consist solely of shares sold by majority owner Hindustan Coca-Cola Overseas Holdings, with no new funds going to the bottler. It plans to sell up to 997.5 million shares, bringing its stake down from 60% to about 45%; Jubilant Beverages will retain its 40% holding.

No price range has been disclosed. Hindustan Coca-Cola Holdings reported revenue of 115.49 billion Indian rupees for the year to March 2026, down 9.4%, attributing the decline to territory transfers under its refranchising programme. Separately, India's petroleum ministry rejected Karnataka officials' claim that some pumps sold petrol exceeding the 20% ethanol limit, while state-run Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum disputed the findings and sought independent testing.