Newsletter
India's IPO queue just got a little bigger…and a lot fizzier.
Danish beer giant Carlsberg has reportedly confidentially filed for an IPO of its India business, looking to raise as much as ₹6,600 crore.
Why should you care: Carlsberg India isn't a small player. It is the country's second-largest brewer, with around 22% market share. Since entering India in 2007, the company has built a network of 14 breweries across the country.
If the IPO goes ahead, it could become one of India's biggest consumer-sector listings in recent years, giving investors another way to tap into the country's growing alcoholic beverages market.
But here's the bigger story: Carlsberg isn't the only company lining up to go public. According to market data, 236 mainboard IPOs worth nearly ₹3.5 lakh crore are currently waiting in the wings.
So why haven't we seen them yet: after record-breaking IPO activity over the last few years, 2026 has been relatively slow. Weak market sentiment and uncertainty caused by the conflict in West Asia have made many companies hit the pause button on their fundraising plans.
Experts, however, believe the pipeline remains strong. In fact, just six mega IPOs, including Jio Platforms, NSE, Zepto, PhonePe, Flipkart and SBI Mutual Fund, could collectively raise over ₹1 lakh crore, making 2026 a potentially landmark year for India's primary market.
