New Delhi, 07 November (H.S.): Hindustan Coca-Cola Holdings Limited (HCCH), backed by The Coca-Cola Company and Jubilant Beverages, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).

According to the documents submitted to the market regulator, HCCH filed its preliminary offer papers with SEBI on Friday, November 6. The proposed IPO will comprise entirely an offer for sale (OFS) of up to 997,461,456 equity shares by its promoter, Hindustan Coca-Cola Overseas Holdings Pte. Ltd.

As per the draft prospectus, the promoter shareholder proposes to sell up to 997,461,456 equity shares, each having a face value of Rs. 10. Since the issue will be entirely an offer for sale, there will be no fresh issue of shares. Consequently, Hindustan Coca-Cola Holdings will not receive any proceeds from the IPO, with the entire proceeds from the share sale going to the selling shareholder.

The company's shares are proposed to be listed on the BSE and the National Stock Exchange (NSE).

Hindustan Coca-Cola Holdings Limited operates through its principal subsidiary, Hindustan Coca-Cola Beverages Private Limited (HCCB). Under its arrangements with The Coca-Cola Company (TCCC), HCCB primarily conducts business across its designated territories in 10 states and four Union Territories in southern and western India.

The proposed listing marks a significant step towards bringing Coca-Cola's Indian bottling business to the public markets.

Hindusthan Samachar / Jun Sarkar