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The Coca-Cola Company has announced plans to explore a potential public listing of Hindustan Coca-Cola Holdings (HCCH), the parent company of its largest bottling operation in India, in 2027.

Initial preparations are underway for a possible listing on the Bombay Stock Exchange and the National Stock Exchange of India, subject to market conditions, regulatory approvals and other requirements. The company is also considering selling a portion of its shareholding in HCCH as part of the process.

The move follows a transaction completed in July 2025, when the Jubilant Bhartia Group acquired a 40% stake in HCCH. Coca-Cola said a public listing would mark the completion of the bottler's refranchising process and strengthen its position to capture growth opportunities in the Indian market.

Sanket Ray, president of India and Southwest Asia and emerging large markets lead at Coca-Cola, described the proposed listing as an important step for the business.

He said: “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.”

Jubilant Bhartia Group chairman and co-chairman Shyam Bhartia and Hari Bhartia said the public listing would help create value for shareholders while strengthening the partnership with Coca-Cola.

HCCH and its operating subsidiary, Hindustan Coca-Cola Beverages (HCCB), were established in 1997. As of 31 March, the business operated a network of more than 2,000 distributors, serving over 1.7 million customers with a workforce of approximately 5,000 employees.

HCCB runs 14 bottling plants across ten Indian states and works with eight co-packers. The company manufactures, packages, distributes and sells a range of sparkling and still beverages, including Coca-Cola, Thums Up, Sprite, Fanta, Limca, Maaza and Minute Maid. It is currently the market leader in non-alcoholic ready-to-drink beverages within its operating territory.