Carlsberg readies India IPO filing of up to $700 million, say reports
The brewer is preparing to file publicly for a listing of its India business, with a launch possible as early as December.
The 30-second read
- Carlsberg is set to publicly file for an India IPO of up to $700 million, first reported by Mint.
- The sale would be entirely secondary, with Carlsberg selling its own shares, first reported by The Economic Times.
- Launch could come as early as December, but size, structure and timing may change.
Carlsberg is getting ready to make a public filing of papers for an IPO of its India business. The move was first reported by Mint. Business Today and Mint put the size at up to $700 million.
The Economic Times first reported that the offer would be entirely a secondary share sale by Carlsberg. That means the money goes to the seller, not into the company. The same outlet first reported that a confidential draft was filed in July, and that Kotak Mahindra Capital, the JPMorgan India unit and the Citigroup India unit are working on the deal.
Business Today, NDTV Profit and The Economic Times say the launch could happen as early as December. NDTV Profit and The Economic Times add that investor roadshows are expected to begin next week. The Economic Times first reported that size, structure and timing could change.
Carlsberg India is the country's second-largest brewer, with about 22% market share. It entered India in 2007 and runs seven breweries, per its website. The details come from unnamed people, and Carlsberg did not immediately comment.
Why it matters
A listing of India's second-largest brewer would give Indian investors a new way to invest in the beer sector. It is also planned with the India units of global banks and with Kotak Mahindra Capital.