Pernod Ricard India IPO in Focus as Company Begins Early Preparations for Potential Listing

Pernod Ricard SA is exploring the possibility of listing its Indian business, reflecting a broader trend of multinational firms tapping domestic equity markets. Early-stage preparations are understood to be underway, although the company has not confirmed any final decision. 

The potential move comes amid sustained investor interest in India’s primary market activity.

What Is the Development Around the IPO?

Pernod Ricard SA has reportedly initiated preliminary work for a potential initial public offering (IPO) of its India business, as per a Bloomberg report.

The company is said to be assessing options and preparing internally for a possible listing, though discussions remain at an early stage and details may evolve.

Which Advisers Are Involved?

According to a report by The Economic Times, the company is working with Goldman Sachs Group Inc. as a financial adviser, along with Cyril Amarchand Mangaldas for legal support.

These engagements are part of initial groundwork, and formal appointment of advisers may follow as the process progresses.

Company’s Official Position

A representative of Pernod Ricard has indicated that no final decision has been taken regarding any listing or specific course of action at this stage.

This suggests that the IPO remains under consideration and is subject to internal evaluation as well as market conditions.

How Does This Fit into Broader Market Trends?

If the listing proceeds, Pernod Ricard would join a number of multinational companies that have explored or executed listings in India in recent years.

Notable examples include:

• Hyundai Motor India Ltd.
• LG Electronics India Ltd.
• Tenneco Clean Air Ltd.
• Carraro India Ltd.

This trend reflects growing depth in India’s capital markets and continued investor participation.

IPO Market Activity in India

According to data cited by Bloomberg, companies in India have raised around $2.9 billion through IPOs so far this year. This compares with approximately $22 billion raised during the full year of 2025.

The figures indicate ongoing activity in primary markets, though at a measured pace compared to the previous year.

What Could Influence the Final Decision?

Several factors may determine whether the IPO proceeds:

• Market conditions and investor sentiment
• Valuation considerations
• Regulatory approvals
• Strategic priorities of the parent company

Given that deliberations are ongoing, timelines and structure of any potential offering remain uncertain.

Read More: Upcoming IPOs This Week (Apr 20–23): Adisoft & Leapfrog Open for Subscription.

Conclusion

Pernod Ricard’s reported move to explore an IPO for its Indian business highlights continued interest among multinational firms in accessing domestic capital markets. While the process is still at an early stage, further clarity is likely to depend on market dynamics and internal decisions in the coming months.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.