Coca-Cola Co. is reportedly considering an initial public offering (IPO) for its Indian bottling unit, Hindustan Coca-Cola Beverages Pvt. The potential IPO could raise approximately $1 billion and value the unit at around $10 billion.

The American beverage giant has reportedly held meetings with bankers in recent weeks to discuss the potential listing. While discussions are in early stages, Coca-Cola has not yet hired bankers to formally manage the offering. If the company proceeds, the IPO would likely occur sometime in 2026.

Hindustan Coca-Cola Beverages serves as Coca-Cola's bottling operation in India, which is considered one of the world's fastest-growing beverage markets. The company operates 14 manufacturing plants across 12 states, serving 236 districts through a network of over 2 million retailers and employs more than 5,200 people.

Coca-Cola would be joining a rising trend of global companies opting to list their Indian units on the public market. LG Electronics Inc. recently completed a $1.3 billion IPO, and Hyundai Motor Co. had a record-breaking $3.3 billion listing last year.

The move comes as Coca-Cola faces increased competition in India, particularly from Reliance Retail Pvt. Ltd.'s Campa Cola, which has been rapidly gaining market share. Coca-Cola recently sold a minority stake in the bottler's parent company to Jubilant Bhartia Group, signaling a strategic realignment in India.

The potential IPO would bring one of the world's best-known brands to India's hot IPO market, which is on track for a record month and potentially its best year ever in 2025. With potential offerings such as Coca-Cola and Jio Platforms Ltd. on the horizon, 2026 is shaping up to be another significant year for the Indian IPO market.

Coca-Cola did not immediately respond to requests for comment.