Carlsberg India to file $700M IPO in June, eyes 2026 listing as #2 brewer at 22% share
Carlsberg's India unit plans to file draft papers in June for a $700 million IPO, with listing targeted for 2026. The country's second-largest brewer operates 14 breweries (8 owned, 6 contract) and holds 22% market share. Kotak, JPMorgan and Citi are advising. Rival Pernod Ricard is also exploring an India listing.
What happened
Carlsberg India · Carlsberg plans to file draft papers in June for a $700M India IPO, listing likely in 2026. India unit is country's #2 brewer at 22% share,
Key facts
- $700 million
- 22% market share
- 14 breweries
- 8 owned
- 6 contract
- $3.6 billion UB market cap
- -36% UB stock
Why this matters
Two major MNC beverage carve-outs queuing up for Indian listings reset the playbook for unlocking subsidiary value, and Kotak/JPMorgan/Citi anchoring this mandate signals the bulge-bracket fee pool for India MNC IPOs is now in play.