Coca-Cola adds fizz to India bottling unit IPO plan, appoints JPMorgan & Citi as bankers

Coca-Cola's plans to take its bottling business to Dalal Street have moved a step closer. Hindustan Coca-Cola Holdings has appointed JPMorgan and Citi to steer the proposed 2027 IPO, Reuters reported, citing two sources familiar with the development. The company is also exploring the sale of part of its stake.The appointments were finalised after investment banks made presentations to Coca-Cola in London earlier this month, the sources said. One of them added that Kotak and Morgan Stanley have also been appointed to work on the proposed share sale.The beverage maker had announced in June that it was preparing to list its Indian bottling unit in 2027 while also exploring the sale of part of its holding. However, the valuation of the IPO and the proportion of shares that will be offered have not yet been determined.Coca-Cola and the banks did not immediately respond to Reuters' requests for comment.