Carlsberg India to file DRHP this month for $700M IPO via secondary sale

India's #2 brewer at 22% share will lodge draft papers shortly with Kotak, JPMorgan and Citi as bankers. The all-secondary $700M float follows Pernod Ricard's listing exploration and benchmarks against United Breweries' $3.6B cap. Carlsberg operates 14 breweries (8 owned, 6 contract) and is pushing for a 15-20% price hike.

— Source publishedMon, 8 Jun, 2026, 16:23 IST·First seen Mon, 8 Jun, 2026, 16:29 IST·Source Mint · Companies

What happened

Carlsberg India · Carlsberg plans to file DRHP this month for a $700 million India IPO via secondary share sale, with Kotak, JPMorgan and Citi as bankers.

Key facts

  • $700 million
  • 22% market share
  • 14 breweries
  • 8 company-owned
  • 6 contract units
  • $3.6 billion UB market cap
  • 15-20% price hike sought

Why this matters

Carlsberg India joining Pernod Ricard in listing exploration accelerates the Indian alco-bev public-market thaw, opening comparable trading multiples and potential strategic stake windows as Kotak/JPMorgan/Citi syndicate sets the pricing floor.

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