Coca-Cola India IPO: Draft Papers May Be Filed In December, $10 Billion Valuation In Focus

Coca-Cola is considering filing draft IPO papers in December for its Indian bottling unit, Hindustan Coca-Cola Beverages, according to Bloomberg. The IPO could raise around $1 billion, with Coca-Cola seeking a valuation of about $10 billion. Axis Capital and IIFL Capital Services have reportedly joined the group of banks working on the deal. The offering is expected to consist largely of shares sold by existing investors. The timing, valuation and structure remain subject to change as deliberations continue.