New Delhi, Nov. 7 -- Hindustan Coca-Cola Holdings (HCCH), the parent company of Coca-Cola's Indian bottling business, has filed draft papers for an initial public offering (IPO) comprising an offer for sale (OFS) of up to 99.75 crore shares by its majority shareholder, Hindustan Coca-Cola Overseas Holdings.

The proposed IPO will be entirely an OFS, meaning the company will not receive any fresh capital from the issue. The majority shareholder plans to reduce its stake in HCCH from 60% to approximately 45% following the share sale.

Jubilant Beverages, which holds the remaining 40% stake in the company, will not participate in the proposed IPO. No price band or other details regarding the issue size have been disclosed in the draft papers...