Carlsberg India IPO (DRHP filed)
Carlsberg India Limited filed its draft red herring prospectus with SEBI on 27 Oct 2026. Price band, lot size and issue dates are announced only after SEBI observations and the RHP filing.
Last updated
- Stage
- DRHP Filed
- DRHP filed
- 27 Oct 2026
- Days since
- 4
- Issue size
- —
- Board
- Mainboard
- Price band
- TBA
Carlsberg India IPO status
Carlsberg India Limited filed its draft red herring prospectus (DRHP) with SEBI on . The issue can open only after SEBI issues its observations and the company files the RHP with the price band.
| DRHP filed | 27 Oct 2026 |
|---|---|
| Days since filing | 4 |
| SEBI observation | Awaited |
| Price band | TBA |
| Issue dates | TBA |
Share reservation by category
| Category | Shares Details |
|---|---|
| Qualified Institutions | Not More Than 50% of the Net Issue |
| Non-Institutional | Not Less Than 15% of the Net Issue |
| Retail Investors | Not Less Than 35% of the Net Issue |
Carlsberg India Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income fell from ₹9,018.15 Cr to ₹8,814.96 Cr, and profit after tax rose from ₹437.94 Cr to ₹534.51 Cr. The PAT margin for 31 Mar 2026 was 6.06%.
| Period ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 3,778.71 | 3,350.55 | 3,232.49 | 2,642.01 |
| Total Income | 3,034.43 | 8,814.96 | 9,018.15 | 8,022.54 |
| Profit After Tax | 158.23 | 534.51 | 437.94 | 321.03 |
| EBITDA | 237.80 | 813.25 | 682.55 | 501.89 |
| Net Worth | 2,309.04 | 2,149.31 | 2,261.31 | 1,823.45 |
| Reserve & Surplus | 2,302.28 | 2,168.21 | 2,216.56 | 1,778.41 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| ROE % | 6.90 | 23.76 | 21.31 | 19.12 |
| ROCE % | 34.57 | 61.70 | 79.42 | 46.90 |
| Debt / Equity | 0.01 | 0.01 | 0.02 | 0.02 |
| RoNW % | 6.85 | 24.87 | 19.37 | 17.61 |
| Pat Margin % | 11.59 | 13.73 | 12.74 | 10.84 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Carlsberg India Limited | 1 | — | 9.28 | 6.75 | 24.87% | 37.31 |
| United Breweries Limited | 1 | 73.10 | 15.63 | 15.63 | 9.14% | 171.03 |
| United Spirits Limited | 2 | 52.01 | 24.07 | 24.07 | 20.53% | 123.09 |
| Radico Khaitan Limited | 2 | 92.14 | 45.16 | 45.12 | 18.23% | 247.63 |
| Allied Blenders and Distillers Limited | 2 | 70.14 | 9.59 | 9.59 | 13.24% | 59.44 |
Notes
Basic and diluted earnings per share are sourced from the financial results of the respective peer company and from the Restated Consolidated Financial Information of our Company.
Net asset value per share is calculated by dividing net worth with the number of equity shares outstanding at the end of the year;
Return on Net Worth (in %) is calculated as Restated Profit for the year attributable to equity shareholders of the company divided by the Net Worth at the end of the respective year. Where net worth is calculated as aggregate of the Equity Share capital, securities premium, retained earnings and capital contribution from ultimate holding company.
Return on net Worth (in %) is calculated as profit for the year attributable to equity shareholders of the respective peer company divided by the net worth at the end of the respective year. Where net worth is calculated as aggregate of equity share capital and other equity as disclosed in the financial results of the respective peer company.
P/E ratio for the peer group has been computed based on the closing market price of equity shares on NSE as on October 23, 2026, divided by diluted earnings per share for fiscal ended March 31, 2026.
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to utilize the Offer Proceeds for the following Objects.
| Sr | Objective |
|---|---|
| 1 | The Carlsberg India Ltd. IPO is a 100% Offer for Sale (OFS), so the company will not receive any funding and the entire IPO proceeds will go to the selling shareholders. |
About Carlsberg India Limited
Carlsberg India Limited is an alcoholic beverages company engaged in the manufacture, marketing and sale of beer in India. Incorporated on May 3, 2006, the company was formerly known as Carlsberg India Private Limited. Carlsberg Group commenced its operations in India in 2007, starting production at its brewery in Paonta Sahib, Himachal Pradesh.
Carlsberg India+2
The company has a portfolio of established beer brands, including Carlsberg, Tuborg and 1664 Blanc. It operates a network of seven owned breweries and eight third-party manufacturing facilities, supporting its presence across the Indian market.
Carlsberg India+1
As of June 30, 2026, Carlsberg India had 1,274 permanent employees and 205 contract employees. Its permanent workforce included 644 employees in brewery operations, 517 in sales, 32 in marketing, 56 in general administration and 25 in other functions.
Promoters
Carlsberg A/S
South Asian Breweries Pte. Ltd.
Contact details
Carlsberg India Ltd
4th Floor, Rectangle No. 1
Commercial Complex, D4
Saket, New Delhi - 110 017
Phone: +91 124 6923530
Email: cs@carlsberg.asia
Website: https://carlsbergindia.com/
Carlsberg India IPO FAQs
- Has Carlsberg India IPO filed for an IPO?
- Carlsberg India Limited filed its draft red herring prospectus (DRHP) with SEBI on 27 Oct 2026.
- When will the Carlsberg India IPO open?
- Issue dates are announced after SEBI observations and the RHP filing. They are not available yet.
- What is the Carlsberg India IPO price band?
- The price band is announced a few days before the issue opens. It is not available yet.
Details are from the draft prospectus and can change in the final RHP. This is not investment advice.