Hindustan Coca-Cola Holdings files draft papers with SEBI for IPO

Detailed summary

Hindustan Coca-Cola Holdings Ltd has filed draft papers with SEBI for an IPO consisting entirely of an offer for sale by its promoter.

Hindustan Coca-Cola Holdings, the parent company of Coca-Cola's India bottling operations, has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).

The proposed IPO comprises an offer for sale (OFS) of up to 99.75 crore equity shares by promoter selling shareholder Hindustan Coca-Cola Overseas Holdings Pte. Ltd. The shares have a face value of ₹10 each. The company has not disclosed the offer size or price band in the draft prospectus.

Since the IPO is entirely an OFS, Hindustan Coca-Cola Holdings will not receive any proceeds from the issue. The proceeds, after deducting the applicable offer-related expenses, will go to the selling shareholder. The offer also includes a reservation for eligible employees, with the number of shares yet to be specified.

The equity shares are proposed to be listed on the BSE…

Opening of the article, excerpted from CNBC-TV18. To read the rest, open the article on the publisher's site.