Carlsberg eyes up to $700 million India IPO as brewer sharpens growth play: Report
Carlsberg India is the country’s second-largest brewer, with a market share of around 22%, according to a company presentation. Since entering India in 2007, the company has expanded its footprint to 14 breweries, including eight company-owned facilities and six contract manufacturing units.
- Jun 8, 2026,
- Updated Jun 8, 2026 4:29 PM IST
Danish brewer Carlsberg A/S is preparing to file draft papers for an initial public offering of its India business as early as this month, as global alcohol makers look to tap investor interest in one of the world’s fastest-growing major consumer markets, as per a Bloomberg report.
The proposed listing of Carlsberg India could raise as much as $700 million, the report added. The brewer is working with Kotak Mahindra Capital, the local units of JPMorgan Chase & Co and Citigroup Inc on the proposed share sale, it added.
The IPO is expected to comprise a secondary share sale by Carlsberg and could take place later this year. However, discussions are ongoing and details related to the size, structure and timing of the transaction may still change, as per the report.
Carlsberg India is the country’s second-largest brewer, with a market share of around 22%, according to a company presentation. Since entering India in 2007, the company has expanded its footprint to 14 breweries, including eight company-owned facilities and six contract manufacturing units.
The planned offering comes as multinational alcohol companies increasingly seek to unlock value from their India operations, betting on rising consumption and long-term demand growth in the country.
French spirits maker Pernod Ricard SA, which owns brands such as Absolut Vodka and Chivas Regal, has also been exploring a potential listing of its India business and has appointed advisers for the process.
Danish brewer Carlsberg A/S is preparing to file draft papers for an initial public offering of its India business as early as this month, as global alcohol makers look to tap investor interest in one of the world’s fastest-growing major consumer markets, as per a Bloomberg report.
The proposed listing of Carlsberg India could raise as much as $700 million, the report added. The brewer is working with Kotak Mahindra Capital, the local units of JPMorgan Chase & Co and Citigroup Inc on the proposed share sale, it added.
The IPO is expected to comprise a secondary share sale by Carlsberg and could take place later this year. However, discussions are ongoing and details related to the size, structure and timing of the transaction may still change, as per the report.
Carlsberg India is the country’s second-largest brewer, with a market share of around 22%, according to a company presentation. Since entering India in 2007, the company has expanded its footprint to 14 breweries, including eight company-owned facilities and six contract manufacturing units.
The planned offering comes as multinational alcohol companies increasingly seek to unlock value from their India operations, betting on rising consumption and long-term demand growth in the country.
French spirits maker Pernod Ricard SA, which owns brands such as Absolut Vodka and Chivas Regal, has also been exploring a potential listing of its India business and has appointed advisers for the process.