MUMBAI/NEW DELHI: Despite the challenging fund-raising market conditions induced by the West Asia war, several leading unlisted companies are pressing ahead with their plans to go public.
Prism (Oyo) Gets Sebi Nod for IPO
On Tuesday, Prism, the parent company of hospitality firm Oyo, received approval from the Securities and Exchange Board of India (Sebi) for its initial public offering (IPO), which could be worth up to Rs 6,650 crore. The company had filed its IPO papers through the confidential route in late December and plans to file updated draft papers by early July, according to sources. Prism declined to comment on the matter. The company is targeting a valuation of $7-$8 billion.
Coca-Cola Plans India Bottler IPO in 2027
Earlier in the day, global beverage giant Coca-Cola announced that it is exploring a potential listing of Hindustan Coca-Cola Holdings (HCCH), the parent of its largest bottler in India, in 2027. The IPO is estimated to be worth about $1 billion (around Rs 9,500 crore at current exchange rates), which could rank among the largest public offerings in India's consumer beverages space in recent years. Coca-Cola also stated that it is exploring the sale of a portion of its shareholding in HCCH ahead of the IPO. Currently, the US major owns 60% of the company, while the remaining 40% is held by the Delhi-based Jubilant Bhartia Group, which acquired the stake in 2025.
This development is part of Coca-Cola's broader global asset-light strategy, under which it has been divesting its bottling operations and transitioning to a franchise-led model. Sanket Ray, President of India & Southwest Asia and Emerging Large Markets Lead for The Coca-Cola Company, said, "We will stay invested in this important bottler and focus on growing our portfolio of global and local brands in India." The company's India bottling arm operates 14 bottling plants across 10 states and packages, distributes, and sells beverages including Coca-Cola, Thums Up, Sprite, and Fanta.
Other Major IPOs in the Pipeline
Investors on Dalal Street are also awaiting IPOs of Jio Platforms and the National Stock Exchange (NSE), each worth several billion dollars. However, these two companies have yet to file their papers with the regulator. In addition, quick commerce major Zepto is moving ahead with its listing plans. Mumbai-based Parle Products, the maker of Melody toffees, is also planning to go public. Melody recently gained global attention after Prime Minister Narendra Modi gifted a packet of the toffee to his Italian counterpart. Global private equity major Temasek-backed Manipal Hospitals is also planning its IPO, which could be worth about Rs 10,000 crore.
Some Companies Delay IPO Plans
However, a handful of companies have declared delays in their listing plans due to war-led market uncertainties. For instance, Walmart's PhonePe and Flipkart have paused their IPO processes.
