Jubilant Bhartia Group

Jubilant Bhartia Group holds a 40% stake in Hindustan Coca-Cola Holdings (HCCH), with Coca-Cola holding the other 60%.[1] source: Mint HCCH is the parent of Coca-Cola's India bottler Hindustan Coca-Cola Beverages (HCCB).[2] source: The Hindu BusinessLine HCCB runs 14 bottling plants across 10 states [1] source: Mint and serves 1.7 million retail outlets across 236 districts.[3] source: Outlook Business

Jubilant Bhartia acquired its 40% in HCCH in July 2025.[2] source: The Hindu BusinessLine NDTV Profit reported that the stake was bought for Rs 10,000 crore in 2025.[4] source: NDTV Profit In July 2026, Times of India reported that HCCH appointed JPMorgan and Citi for a planned 2027 IPO with a $1B issue size and a $10B valuation.[5] source: Times of India It also reported that Kotak and Morgan Stanley were appointed.[6] source: Times of India In September 2026, Mint, citing Bloomberg, reported that Coca-Cola is considering a December draft IPO filing for HCCH. The filing would seek a valuation of about $10 billion and could raise around $1 billion, largely through existing investors' share sales.[1] source: Mint

NDTV Profit reported in June 2026 that the planned IPO will gradually transfer operational control of the bottler to Jubilant Bhartia, mirroring the PepsiCo-Varun Beverages franchise model.[4] source: NDTV Profit The same report gave HCCB's FY25 revenue as Rs 12,751 crore and its net profit as Rs 757 crore (-73% YoY), and noted pressure from Campa Cola.[4] source: NDTV Profit Rothschild advises on the listing.[7] source: VCCircle