Restaurant India News: Carlsberg India Eyes Rs 6,600 Crore IPO as Danish Brewer Prepares Public Market Debut

Carlsberg A/S has confidentially filed draft papers for an initial public offering (IPO) of its India business, targeting a fundraise of up to $700 million, or around Rs 6,600 crore, according to people familiar with the matter.

The proposed public issue is expected to comprise entirely a secondary share sale by the Danish brewer, with the listing likely to take place later this year. However, people aware of the development said the size, structure and timeline of the offering remain subject to change.

For the proposed IPO, Carlsberg has appointed Kotak Mahindra Capital Co, along with the Indian units of JPMorgan Chase & Co and Citigroup Inc, as advisors to manage the issue.

The confidential filing follows the company's earlier efforts to prepare for a public listing. In September 2025, reports indicated that Carlsberg was evaluating an IPO for its Indian subsidiary and had invited investment banks to pitch for the mandate. In November 2025, Citi and JPMorgan were appointed as advisors for the proposed offering.

Carlsberg did not respond to requests for comment on the development. The filing comes at a time when India's primary market continues to witness strong momentum. According to data compiled by Prime Database, companies submitted draft prospectuses in June seeking to raise more than Rs 88,500 crore, surpassing the previous monthly record of more than Rs 70,000 crore set in July last year. The current pipeline includes several large proposed listings, including Jio Platforms Ltd. and the National Stock Exchange of India Ltd.

Carlsberg India, which entered the country in 2007, is currently the country's second-largest brewer with an estimated market share of around 22 percent. The company operates 14 breweries across India, comprising eight company-owned manufacturing facilities and six contract manufacturing units, supporting its nationwide production and distribution network.