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Dabur and Jubilant bid for 40% of Coca-Cola India, valuation at Rs 10,800 crore
Coca-Cola's decision on whether to accept a single investor, multiple investors, or a consortium is expected by the end of the fiscal year.
The company has previously considered an initial public offering (IPO) to capitalize on the strong performance of the beverages segment within the FMCG landscape.(Image source: Coca-Cola)
Hindustan Coca-Cola Beverages (HCCB), the Indian bottling arm of the global beverage giant, has attracted significant private equity interest. According to the Economic Times, the Burman family of Dabur and the Jubilant Group have submitted bids for a 40% stake in the company.
The bids reportedly value the stake between Rs 10,800 crore and Rs 12,000 crore, implying a valuation for the entire subsidiary between Rs 27,000 crore and Rs 30,000 crore. Coca-Cola's decision on whether to accept a single investor, multiple investors, or a consortium is expected by the end of the fiscal year.
This development comes as HCCB explores other growth avenues. The company has previously considered an initial public offering (IPO) to capitalize on the strong performance of the beverages segment within the FMCG landscape.
In a related move, Harsh Bhutani has been appointed as the new chief financial officer of HCCB, effective October 1, 2024. Bhutani will oversee the company's financial operations, including business transformation, mergers and acquisitions, tax, treasury, audit, accounting, reporting, and risk management.
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