New Delhi: Coca-Cola has invited investment banks to pitch for roles on the proposed initial public offering (IPO) of its Indian bottling business, Hindustan Coca-Cola Beverages (HCCB), in a transaction that could raise around $1 billion, according to a Bloomberg report.

Bloomberg, citing people familiar with the matter, said presentations by prospective banks are scheduled to take place in London next week. Rothschild & Co, which is advising Coca-Cola on the transaction, is expected to meet investment banks as part of the

The Atlanta-headquartered beverage company is considering a valuation of about $10 billion for HCCB. However, discussions are still underway and the timing, size, valuation and structure of the proposed IPO remain subject to change.

If it proceeds, the listing would join a series of multinational companies tapping Indian capital markets amid strong domestic investor interest. Bloomberg noted that LG Electronics listed its Indian business last year, while Hyundai Motor India raised about $3.3 billion through its IPO in 2024, the country’s largest public offering to date.

Hindustan Coca-Cola Beverages is among India’s largest soft drink bottlers. According to information available on the company’s website, it serves more than 1.7 million retail outlets, employs over 5,000 people and operates 14 manufacturing facilities across 12 states. The company is headquartered in Bengaluru and supplies products across 236 districts in southern and western India.

Last year, Coca-Cola sold a minority stake in HCCB to the Jubilant Bhartia Group as part of its strategy to bring in a domestic strategic partner while retaining its presence in one of its fastest-growing markets.