Pernod Ricard SA appointed Kotak Mahindra Capital, Goldman Sachs, JPMorgan, and BofA Securities to advise on an initial public offering of its Indian unit. The proposed IPO aims to raise over $1 billion. Management tentatively scheduled the listing for 2027, though final size and structure remain subject to market conditions.
The move follows a similar filing by competitor Carlsberg for its Indian operations. These developments signal growing interest from global liquor companies in the Indian market.
Separately, Pernod Ricard brand The Glenlivet faces backlash in South Africa over an advertisement. Critics and families of anti-apartheid activists accused the brand of appropriating political legacies. The company issued a public apology, which some families have deemed insufficient.