Following a series of pitches held in London earlier this month, the company expanded its banking roster to include Kotak and Morgan Stanley for the upcoming listing. While Coca-Cola has not officially confirmed the mandate, the move signals a strategic shift to monetize a significant portion of its 60% stake in the entity. Hindustan Coca-Cola Holdings, which manages 14 bottling plants across 10 Indian states, reported revenue of 127.35 billion Indian rupees—roughly $1.32 billion—and a net profit of $36 million for 2023.

The decision mirrors a broader trend among global firms, including Hyundai Motor and LG Electronics, which are increasingly looking to India to unlock value. By opting for stake sales rather than raising fresh capital, these companies are leveraging a market environment that often yields higher valuations than their domestic exchanges. Specific details regarding the IPO valuation and the exact percentage of equity to be sold remain under discussion as the company prepares for the 2027 window.