Danish multinational brewing company Carlsberg is considering an IPO for its Indian unit, Carlsberg India. Early-stage discussions involve investment banks such as BofA Securities, Citi, Deutsche Bank, J.P. Morgan, and Morgan Stanley. The company reported a revenue of ₹8,000 crore and a profit of ₹323 crore in FY24.
Carlsberg IPO: Carlsberg India, the maker of the Tuborg brand, is now preparing to enter the stock market. According to sources, the company has initiated discussions with investment banks, including BofA Securities, Citi, Deutsche Bank, J.P. Morgan, and Morgan Stanley, for its potential IPO. However, the size and valuation of the IPO are yet to be determined. Carlsberg India recorded a revenue of over ₹8,000 crore and a profit of ₹323 crore in FY24, marking a 60% annual increase. The company holds the second position in India's beer market with a 21% share.
Early Discussions Regarding IPO
According to sources, Carlsberg India has commenced discussions with investment banks to advance this proposal. Major banks like BofA Securities, Citi, Deutsche Bank, J.P. Morgan, and Morgan Stanley are reportedly involved in this process. However, discussions are still in the early stages, and the IPO's size or valuation has not been determined. Furthermore, the company has not yet clarified whether this IPO will definitely proceed. A spokesperson for Carlsberg India also explicitly stated that the company does not comment on market speculation.
Company Preparing for Two Years
Sources indicate that Carlsberg had been exploring listing opportunities in India for the past two years. The company has now begun to take concrete steps in this direction. Given India's rapidly growing beer market and the company's b foothold, this is considered an opportune time.
Company's Financial Status
Carlsberg India's recent financial reports demonstrate the company's b position. In fiscal year 2024, the company's revenue exceeded ₹8,000 crore. Concurrently, profit reached ₹323 crore, marking a 60% annual increase. Improved working capital and lower capital expenditure have strengthened the company's balance sheet. This is why management is now seriously considering the possibilities of raising capital from the stock market.
Brands That Make Carlsberg India Unique
Carlsberg India's portfolio in India includes several popular beer brands. These include Carlsberg Green, Carlsberg Elephant, Tuborg Green, Tuborg Strong, and Tuborg Classic. Thanks to these brands, the company has established a significant presence among young and urban consumers. The company operates seven breweries nationwide, and its market penetration is continuously strengthening.
In the Indian beer market, Carlsberg India directly competes with United Breweries, which produces the Kingfisher brand. Additionally, international companies like AB InBev also maintain a b presence here. AB InBev manufactures brands such as Budweiser, Corona, and Hoegaarden. Amidst such fierce competition, Carlsberg India has secured approximately 21% market share.
Global Capability Center in Gurugram
To further strengthen its presence in India, the Carlsberg Group recently launched its first Global Capability Center in Gurugram. The objective of this center is to enhance technology, management, and business collaboration.
Carlsberg India's potential IPO could prove to be a major attraction for both investors and the spirits industry. If this plan moves forward, it would be another significant listing in the Indian stock market, which has already welcomed companies like Sula Vineyards, Allied Blenders and Distillers, and Monica Alcobev.
