Coca-Cola announced on Tuesday its intention to pursue a public listing for Hindustan Coca-Cola Holdings Pvt. Ltd. (HCCH) by 2027. HCCH is the parent company of Hindustan Coca-Cola Beverages Pvt. Ltd. (HCCB), the largest bottler for Coca-Cola in India. The company indicated that it may sell a portion of its stake in HCCH as part of the listing process.
Currently, Coca-Cola holds a 60 percent stake in HCCH, while the Jubilant Bhartia Group owns the remaining 40 percent. The beverage giant stated that this prospective listing would finalize the refranchising of HCCH and strategically position it to leverage opportunities within the Indian market.
“Initial preparations are underway for a potential listing on the Bombay Stock Exchange and National Stock Exchange of India, subject to market conditions and applicable regulatory approvals,” Coca-Cola said. The company has enlisted Rothschild & Co. to provide advisory services for the listing.
In July 2025, the Jubilant Bhartia Group finalized its acquisition of the 40 percent stake in HCCH. Sanket Ray, President for India and Southwest Asia as well as Emerging Large Markets Lead at Coca-Cola, commented, “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.”
Shyam and Hari Bhartia, Chairman and Co-Chairman of Jubilant Bhartia Group, added, “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.”
Established in 1997, HCCH and its operating subsidiary HCCB manage a network exceeding 2,000 distributors and serve over 1.7 million customers. HCCB operates 14 bottling plants across 10 Indian states and collaborates with eight co-packers, employing approximately 5,000 individuals.
Previously, Coca-Cola had refranchised several territories previously managed by HCCB to existing independent bottlers. HCCB is responsible for preparing, packaging, distributing, and selling various sparkling and still beverages from Coca-Cola’s portfolio, including Coca-Cola, Thums Up, Sprite, Fanta, Limca, Maaza, and Minute Maid.
Published on June 2, 2026.
