Royal Stag, Chivas Regal maker is planning IPO in India
What's the story
Pernod Ricard SA, the company behind popular brands such as Absolut vodka and Chivas Regal whisky, is said to be gearing up for an initial public offering (IPO) of its Indian business. According to Bloomberg, Pernod Ricard India Pvt Ltd has begun preliminary preparations for the process. The company is working closely with Goldman Sachs, and law firm Cyril Amarchand Mangaldas on this endeavor.
Confidential discussions
No decision has been made yet
The specifics of Pernod Ricard's potential IPO, including its timing, are still being discussed and could change. A representative from the company said no decision has been made at this stage regarding any specific action or option. Meanwhile, representatives for Goldman Sachs declined to comment on the matter, while Cyril Amarchand Mangaldas did not respond to requests for comment.
Market trend
Growing list of global firms tapping Indian equity markets
If Pernod Ricard goes ahead with the IPO, it will join a growing list of global firms tapping into Indian equity markets. Other companies that have done so in recent years include Hyundai Motor India Ltd, LG Electronics India Ltd, Tenneco Clean Air Ltd, and Carraro India Ltd. So far this year, Indian IPOs have raised about $2.9 billion, compared to around $22 billion in all of 2025, Bloomberg data shows.
Market presence
Pernod Ricard's presence in India
India is Pernod Ricard's biggest market by volume and second-largest by value. The company's CEO Jean Touboul had revealed this in an interview with the Times of India last December. Pernod Ricard owns many well-known brands including Royal Stag, Blenders Pride, 100 Pipers, Chivas Regal, Ballantine's, The Glenlivet, Royal Salute, and Jameson Irish whiskey.