Carlsberg A/S has confidentially filed draft papers for an initial public offering of its India business with India’s markets regulator, SEBI, according to multiple reports. The planned offering is described as raising as much as $700 million (reported in rupees as about ₹7,100 crore), though the final size can depend on regulatory approvals and market conditions. Several sources say the company is working with Kotak Mahindra Capital and the Indian units of JPMorgan Chase & Co. and Citigroup Inc. on the proposed transaction. One outlet characterizes the move as a secondary share sale, implying an offering structure that may involve promoter selling rather than only issuing new shares. Other reports highlight that filing on a confidential basis allows draft disclosures to remain private during SEBI’s initial review, a process that has become more common among large issuers. Carlsberg India is described as the country’s second-largest brewer, with an estimated market share of around 22%, and the company’s potential listing is portrayed as part of a broader rise in IPO activity in India. Timing and completion are not specified in the reports, and progress remains subject to regulatory review.