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

Hindustan Coca-Cola Holdings Ltd (HCCH), backed by The Coca-Cola Company and Jubilant Beverages, has filed its draft papers with the market regulator Sebi to raise funds through an initial public offering (IPO). The proposed IPO will be entirely an offer for sale (OFS) of up to 99,74,61,456 equity shares by promoter Hindustan Coca-Cola Overseas Holdings Pte Ltd, according to the draft red herring prospectus (DRHP) dated November 6. Since the issue is entirely an OFS, the company will not receive any proceeds from the IPO, with the entire proceeds going to the selling shareholder.