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Carlsberg India Eyes $600M IPO Next Week
13 Nov
Summary
- Carlsberg's India unit aims to raise up to $600 million via IPO.
- The Danish brewer seeks a $4 billion valuation for its Indian business.
- Carlsberg India reported ₹87.09 billion revenue in FY26.
Carlsberg A/S is poised to initiate investor meetings next week for a potential $600 million initial public offering (IPO) of its India business. The Danish brewer is reportedly seeking a valuation of $4 billion for Carlsberg India Ltd., the nation's second-largest brewer.
Discussions are ongoing, with potential adjustments to the IPO's size, structure, and timing. The offering is expected to be a secondary share sale, with Carlsberg entity South Asian Breweries Pte. Ltd. planning to divest up to 15% of the company's equity capital.
Carlsberg India filed draft IPO papers confidentially in July and publicly on October 27. Kotak Mahindra Capital, Citigroup, and JPMorgan Chase & Co. have been appointed as managers for the offering. The company reported revenue of ₹87.09 billion for the financial year ended March 31, 2026, and operates seven breweries with a 21.9% market share in 16 key states and union territories.
