The Indian IPO market is seeing significant action. Bloomberg reported that the India business of the brewing firm Carlsberg. has reportedly filed its draft papers with SEBI via the confidential route. The offer size is estimated around $700 million, Bloomberg added.
The Danish brewing company is likely to raise funds through the offer for sale route (OFS), officials told Bloomberg. They said that the beer giant is working with Indian units of investment banks Kotak Mahindra Capital, JP Morgan Chase, and Citigroup for the offer.
Financialexpress.com has not been able to verify the news independently. We will update as soon as there is an official announcement.
Particulars over the Carlsberg India’s offer size, subscription timeline, and structure have not been publicly disclosed yet.
Indian IPO pipeline staged for comeback
If confirmed, the Carlsberg’s issue would add to the list of major mainboard IPOs set to debut this year. Experts suggest that NSE IPO and Jio Platforms IPO could be amongst the largest domestic offerings.
- NSE filed IPO DRHP in June
NSE will raise proceeds entirely via the OFS route and the proceeds will go directly to the selling shareholders after deducting offer-related expenses.
The IPO comprises up to 14.89 crore equity shares with a face value of Rs 1 each. The final issue size in rupee terms will be known once the offer price is decided.
The issue also includes a reservation for eligible employees of up to 5% of the post-offer paid-up equity capital, while the remaining shares will be distributed among institutional, non-institutional and retail investors through the book-building process.
- Jio Platforms IPO details
The other big ticket IPO that the street is watching out for is Mukesh Ambani owned, Jio Platforms IPO. It is entirely a fresh issue, as the company will issue up to 27 crore shares, each having a face value of Rs 10.
About Carlsberg
Carlsberg is a Danish brewing company which started its operations in India in 2007. The company manufactures alcoholic and non-alcoholic beverages, and has eight-owned plants and six manufacturing units in the country.
(With inputs from Bloomberg)