Absolut Vodka Maker Pernod Ricard Explores IPO of India Business

French Spirits group Pernod Ricard is considering a possible listing of its India business, according to a Bloomberg report.  

The company is said to be speaking with potential advisers as it reviews the option of a separate listing for Pernod Ricard India. The discussions are at an early stage, and there is no certainty that a public issue will follow. 

Long-Standing Presence in India 

Pernod Ricard India is a wholly owned subsidiary of the Paris-listed parent. The company has been operating in the country for more than 30 years. It runs a distillery in Nashik, Maharashtra, and has 24 bottling facilities across different states. 

The portfolio includes global brands such as Chivas Regal whisky and Absolut Vodka. India is one of the group’s largest markets by volume, where it competes with Diageo and several domestic liquor companies. 

Regulatory Cases Under Way 

The possible listing comes as the company faces regulatory proceedings in India. Authorities are pursuing antitrust cases involving the firm. There is also a separate case linked to alleged violations of Delhi’s liquor rules. 

Pernod Ricard has denied any wrongdoing in these matters. The cases are ongoing and no final outcome has been announced. 

Similar Developments Among Peers 

The report follows comments from Danish brewer Carlsberg, which recently said it was exploring a possible listing of its India business. The company said the review was at an early stage and no decision had been taken. 

Read More: Carlsberg Mulls India Business Listing to Unlock Shareholder Value! 

Conclusion 

Any listing of Pernod Ricard’s India unit remains under preliminary consideration, with no formal announcement or timeline disclosed. 

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