Suryaa Business Desk: Hindustan Coca-Cola Beverages has officially submitted draft red herring prospectus (DRHP) papers to the market regulator, SEBI, for an initial public offering. The company aims to expand its domestic business operations and provide value to its shareholders.
The proposed issue will be conducted entirely through an offer for sale (OFS). Under this structure, the promoter entity, Hindustan Coca-Cola Overseas Holdings, plans to sell over 990 million equity shares. As the IPO is exclusively an OFS, the company will not receive any new funds, with the proceeds going to the selling shareholders.
The company maintains a network of production centers, distributors, and retail outlets across India within the non-alcoholic beverage sector. Following clearance from SEBI, the official price band and dates for the public issue are expected to be announced.
