Carlsberg assessing IPO of India unit, says report

The Danish brewer's India unit, Carlsberg India, had posted a 60.5% increase in FY24 profit to ₹323.1 crore. Its total income stood at ₹8,044.9 crore, reflecting a year-on-year (YoY) jump of 15.2% for the financial year ended March 31, 2024. Danish multinational brewer Carlsberg A/S is looking to tap into the Indian market by coming up with an initial public offering of its operations in the country, Moneycontrol reported, citing multiple industry sources. The IPO plan is in the initial stage, and few investment banks have been asked for their opinions, a source told Moneycontrol. Another source said that discussions are nascent and there is no certainty that they will lead to a transaction. The third source, as per the report, said that Carlsberg has been exploring listing in Indian markets for the past two years, and now they have moved in this direction. Meanwhile, Carlsberg A/S has declined to comment on public offer speculations. "We are not commenting on rumours or speculations in the market," it told Moneycontrol. Upcoming IPOs this week: Euro Pratik Sales, VMS TMT, 4 others issues to open; 11 listings scheduled; check list Carlsberg India IPO The Danish brewer's India unit, Carlsberg India, had posted a 60.5% increase in FY24 profit to ₹323.1 crore. Its total income stood at ₹8,044.9 crore, reflecting a year-on-year (YoY) jump of 15.2% for the financial year ended March 31, 2024, PTI reported, citing financial data accessed through business intelligence platform Tofler. Notably, this is the highest revenue for the company in India, crossing the ₹8,000 crore milestone, reaching nearly USD one billion from sales. "During the financial year 2023-24, profit amounting to ₹323 crore under the standalone financial statement has been carried forward to 'Reserve and Surplus' including other comprehensive income in the balance sheet," the company said. "Cash and bank balances increased from Rs 9,304 million to Rs 11,165 million with strong business performance, better trade working capital and lower capital investment," it added. The "Excise duty expense" grew 13.4% to ₹4,877.8 crore in FY24 as compared to ₹4,301.6 crore in the previous fiscal. Advertising promotional expenses of Carlsberg India were at ₹96.5 crore in the fiscal year 024 and total expenses stood at ₹7,628.3 crore, relecting a jump of up 13.4%. Carlsberg India is a unit of Singapore-based South Asian Breweries Pte Ltd, owned by Danish brewing giant Carlsberg. To learn more about IPOs, their listings, schedules, and upcoming IPOs, visit our page. To add Upstox News as your preferred source on Google, click here.