Carlsberg India Ltd. IPO Details
Carlsberg India was incorporated on May 3, 2006. The company is part of the 'Carlsberg Group' and has nearly two decades of presence in India, offering a portfolio of internationally recognized beer brands. With seven owned breweries and eight co-manufacturers, it is one of India’s fastest-growing alcobev companies, holding a 21.9% market share across 16 key states and union territories in FY26
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 86.4 M | - | - | ₹0 | DRHP DOC |
Carlsberg issue details
Carlsberg has 86.4 M shares on offer
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
Carlsberg IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Carlsberg NUMBER OF SHARES ON OFFER
Carlsberg FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| Q1FY27 | 3,013.7 | 158.2 | 607.1 | 574.9 | 17.4% |
| Q1FY26 | 2,547.2 | 164.6 | 305.5 | 273.8 | 22.1% |
| FY26 | 8,708.8 | 534.5 | 301.2 | 194.9 | 20.9% |
| FY25 | 8,906.5 | 437.9 | 482.1 | 401.7 | 19.9% |
| FY24 | 7,942.5 | 321.0 | 167.1 | 116.2 | 16.9% |
Carlsberg INFORMATION ON IPO ISSUE
About Carlsberg
Carlsberg India was incorporated on May 3, 2006. The company is part of the 'Carlsberg Group' and has nearly two decades of presence in India, offering a portfolio of internationally recognized beer brands. With seven owned breweries and eight co-manufacturers, it is one of India’s fastest-growing alcobev companies, holding a 21.9% market share across 16 key states and union territories in FY26
Object of the Issue
- To achieve the benefits of listing the equity shares on the stock exchanges
- To carry out the offer for sale of up to 86,418,887 equity shares
Carlsberg - PROMOTERS
| Name |
|---|
| South Asian Breweries Pte. Ltd |
| Carlsberg A/S |
Carlsberg - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Nikolaos Kalaitzidakis | Chairman & Non-Executive Director |
| Nilesh Patel | Managing Director |
| Troels Libak Stollberg | Non-Executive Director |
| Marcin Aleksander Mleczko | Non-Executive Director |
| Amit Jain | Non-Executive Independent Director |
| Chandra Kishore Mishra | Non-Executive Independent Director |
| Gurveen Singh | Non-Executive Independent Director |
| Samaresh Parida | Non-Executive Independent Director |
Carlsberg Book Running Lead Manager
Kotak Mahindra Capital Company Limited
carlsberg.ipo@kotak.com
Citigroup Global Markets India Private Limited
carlsbergindia.ipo@citi.com
J.P. Morgan India Private Limited
carlsberg_India_IPO@jpmorgan.com
Carlsberg Registrar to the Offer
MUFG Intime India Private Limited
carlsberg.ipo@in.mpms.mufg.com
Carlsberg Strengths
Diverse beer portfolio
The company offers internationally recognized brands, including Carlsberg, Tuborg and 1664 Blanc, across Super-Premium, Premium and Mainstream segments, catering to diverse consumer preferences in both strong and mild beer categories. With a strong presence in the Mainstream segment, it held an estimated 19–20% all-India market share in FY26 and secured top-three positions in at least eight states and one union territory
Market strategy
The company follows a focused go-to-market strategy by expanding its distribution network, prioritizing high-growth segments and tailoring product offerings to outlets based on their potential. It strengthens brand visibility through trade marketing and consumer engagement at major music, sporting and cultural events, supporting sales growth and an expanding consumer base
Network & operational efficiency
As of June 2026, the company operated seven owned breweries with an annual installed capacity of 5,461 kHL, supported by third-party co-manufacturers to ensure flexible, cost-efficient and reliable production. Its operations leverage automated technologies and Carlsberg Group’s global best practices, with consistent quality controls and audits across all manufacturing facilities to drive operational efficiency and scalability
Carlsberg Risks
Regulatory risks
The company operates in India’s highly regulated alcobev industry, which is governed by complex central and state-level laws covering taxation, licensing, distribution, product labelling and movement of goods. Compliance with various regulatory authorities, including FSSAI, Legal Metrology and state excise departments, may increase operational complexity, limit flexibility and adversely affect business performance and growth
Depend on vendor for raw materials & packaging materials
The company relies heavily on third-party suppliers for key raw materials and packaging materials, with its top 10 suppliers accounting for 63.97%–69.84% of total purchases across the reported periods. Any supply disruptions, limited availability or price fluctuations in materials such as malted barley, rice, bottles, cans and cartons could adversely affect its production, costs and overall business performance
Brand reputation risks
The company’s business depends on the reputation and consumer acceptance of its Carlsberg, Tuborg and Kronenbourg 1664 brands in India. Strict advertising regulations and intense competition may limit brand visibility and require increased marketing investments, while any decline in brand perception or market acceptance could adversely affect sales, market share and overall business performance
IPO FAQs
The promoters of the company are South Asian Breweries Pte. Ltd and Carlsberg A/S.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.