India: Carlsberg considering an initial public offering for Indian operations

Danish brewing leader Carlsberg is considering an initial public offering (IPO) for its operations in India, according to its Group CEO, Jacob Aarup-Andersen. He confirmed this during an investor call, signalling a potential strategic route to increase shareholder value in the rapidly growing Indian market, Devdisclosure reported on February 17.

While details remain sparse due to legal limitations, Andersen emphasized that the decision to explore an IPO is primarily to unlock shareholder value. He noted substantial growth in India, with brands like Tuborg and Carlsberg Elephant showing positive performance, particularly in light of a strong fiscal year-end in 2025.

Carlsberg's Indian subsidiary has benefited from a high single-digit volume growth and a robust market presence, bolstered by successful launches like Kronenbourg 1664 Blanc. Andersen reiterated that while India remains a focus, the decision on an IPO has yet to be finalized.

17 February, 2026