Carlsberg India IPO plans

Carlsberg Group is preparing to file draft papers for an initial public offering (IPO) of its Carlsberg Group unit as early as this month, aiming to raise up to $700 million. The Danish brewer is working with Kotak Mahindra Bank — Kotak Mahindra Capital Company, JPMorgan Chase, and Citigroup on the proposed share sale, which is expected to consist of a secondary share sale by Carlsberg Group and could take place later this year. This move reflects a broader trend among global alcohol makers, including Pernod Ricard, to unlock value from their Indian operations, betting on rising consumption in India's fast-growing economy. Carlsberg Group is the country's second-largest brewer with a market share of about 22%. The event also highlights challenges in the Indian beer sector, with the Confederation of Indian Alcoholic Beverage Companies and the Brewers Association of India advocating for price hikes due to increased input costs.