Company says that preparations are underway for a potential listing on the BSE and NSE, subject to market conditions and applicable other approvals
The Coca-Cola Company said on Tuesday that it is exploring a potential public listing in India of Hindustan Coca-Cola Holdings (HCCH), the parent of the largest Coca-Cola bottler in India in 2027. Initial preparations are underway for a potential listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) of India, subject to market conditions and applicable other approvals.
The company said that it is exploring a sale of a portion of its stake in the bottler. HCCH is the parent company of Hindustan Coca-Cola Beverages (HCCB). The company added that it has retained Rothschild & Co to advise on the listing.
“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,” said Sanket Ray, president, India and Southwest Asia and Emerging Large Markets Lead, The Coca-Cola Company.
Completing The Refranchising
In July 2025, The Coca-Cola Company completed a transaction in which Jubilant Bhartia Group, an Indian family-owned conglomerate, acquired a 40 per cent stake in HCCH. The potential listing will be a significant milestone, completing the refranchising of HCCH and positioning it well to capitalise on the opportunities in the Indian market, the company explained.
“We are excited to take this next important step in the bottler’s journey and reap the benefits of the public listing to create value for all shareholders. Equally, we are looking forward to continuing to work with The Coca-Cola Company, as an important shareholder in the company.” stated Shyam and Hari Bhartia, Chairman and Co-Chairman, Jubilant Bhartia Group.
As of 31 March 2026, HCCH, and its operating subsidiary HCCB operated a network of more than 2,000 distributors and reached over 1.7 million customers. HCCB operates 14 bottling plants across 10 states in India and works with eight co-packers.
HCCB prepares, packages, distributes and sells both sparkling and still beverages, including Coca-Cola, Thums Up, Sprite, Fanta, Limca, Maaza, Minute Maid and others. The company claimed that it is the market leader in non-alcoholic ready-to-drink beverages in the territory in which it operates.
