🍺Carlsberg India IPO

🍺

IPO Watch · February 2026

Carlsberg
Bets on India

A $700 million listing that could reshape India's beer market

$700M

Target IPO Size

22%

Market Share

₹90B

FY25 Revenue

The Story

Denmark's Finest Pours Into India's Capital Markets

Carlsberg A/S is preparing to list its Indian operations, potentially raising up to $700 million via a secondary share sale. Three marquee banks — Kotak Mahindra Capital, JPMorgan India, and Citigroup — have been appointed, with a DRHP filing possible as early as May 2026.

The rationale is simple: Indian markets offer valuation premiums that parent-company home markets can't match. Hyundai's Indian unit trades at 32× earnings versus just 11× for its Korean parent. Carlsberg wants a slice of that gap — and with 22% beer market share and ₹90 billion in FY25 revenue, it has a compelling story to tell.

"Exploring different options for increasing shareholder value, which may potentially include an IPO of our business in India."

— Kenni Leth, Head of External Communications, Carlsberg Group

Market Position

Who Holds the Glass?

Carlsberg is India's #2 brewer, behind United Breweries (Kingfisher).

22%

Carlsberg

United Breweries ~50%

Carlsberg India ~22%

Others ~28%

Investor Radar

What to Watch

No final decision yet — track these milestones as the IPO unfolds.

📄 DRHP Filing — May 2026

🏛️ SEBI Observations (30–75 days)

🗺️ Management Roadshow

💰 IPO Subscription & GMP

📈 Listing Day Premium

🌍 Pernod Ricard India IPO News

Sources: Bloomberg · ET Markets · Tracxn · February 23, 2026  |  Not investment advice. Markets involve risk.

🚨 Rs. 590 Crore Fraud at IDFC FIRST Bank — Here's What Happened

 

A massive fraud has been uncovered at IDFC FIRST Bank's Chandigarh branch. The victim? Haryana government-linked accounts. The amount? Rs. 590 crore.

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How Was It Caught?

The Haryana government asked the bank to close an account and transfer funds — but the balance on record didn't match what was actually there. Digging deeper revealed the same problem across multiple government accounts.

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What's Being Done?

• 🔴 4 employees suspended
• 🔍 Forensic audit launched
• 👮 Police complaint filed
• 🏦 Board & regulators informed

The bank confirmed this is limited to specific government accounts and does not affect regular customers.

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The Lesson

Even regulated banks aren't fraud-proof. Check your statements regularly and stay alert to any discrepancies — no matter how small.

Stay informed. Stay vigilant.

📊 SEBI RIA Registration – Individual vs Company / LLP: Which is Right for You?

Planning to start your Investment Advisory practice? SEBI RIA registration is mandatory if you charge fees for financial advice. Choosing the right structure is critical for long-term growth and compliance.

🔹 Option 1: Individual RIA

Eligibility:
• Net worth: ₹5 lakh
• NISM certification mandatory
• Minimum qualification & experience required

Government Fees:
• Application fee: ₹5,000
• Registration fee: ₹10,000

Pros:
✔ Low setup and compliance cost
✔ Faster approval process
✔ Ideal for independent advisors and beginners

Cons:
✖ Limited scalability
✖ Lower brand credibility compared to firm structure
✖ Difficult to onboard multiple advisors

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🔹 Option 2: Non-Individual RIA (Company / LLP)

Eligibility:
• Net worth: ₹50 lakh
• Separate Principal Officer & Compliance Officer required

Government Fees:
• Application fee: ₹25,000
• Registration fee: ₹5,00,000

Pros:
✔ High credibility and professional image
✔ Suitable for scaling wealth management business
✔ Ability to build advisory team and larger client base

Cons:
✖ Higher initial cost
✖ More compliance and audit requirements

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💰 Additional Costs to Consider (Both):
• NISM Certification
• Professional fees for application & compliance
• Infrastructure and compliance setup

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🎯 Professional Insight:
• Individual RIA is best for solo advisors starting practice
• Company / LLP RIA is ideal for building a scalable wealth advisory firm

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💼 We provide complete support including:
• Eligibility assessment
• Net worth certification
• SEBI application filing
• Documentation and compliance setup

📞 CA Ramakrishna Sanjay
📱 +91 77602 52581

📊 SEBI RIA Registration – Start Your Investment Advisory Firm Legally

 

Are you planning to offer stock market, mutual fund, or portfolio advisory services for a fee?
Then SEBI Registered Investment Adviser (RIA) approval is mandatory.

✅ Why SEBI RIA Registration matters:
• Build high credibility and investor trust
• Charge professional advisory fees legally
• Start your own wealth advisory or financial planning firm
• Comply with SEBI regulations and avoid penalties

⚙️ Key eligibility:
• Company / LLP with ₹50 lakh net worth
• Qualified Principal Officer with NISM certification
• Proper compliance and documentation framework

🎯 Where expert support makes the difference:
SEBI approval involves structuring, net worth certification, documentation, and regulatory submission.
Professional handling ensures faster approval and zero compliance gaps.

💼 Our end-to-end support includes:
• Entity structuring (LLP / Company)
• Net worth certification
• Complete SEBI application filing
• Documentation and compliance setup
• Query handling till final approval

🚀 If you are a Wealth Advisor, Fintech, or Financial Consultant, this is the right time to obtain your SEBI RIA license and scale your practice.

📞 Contact us today to start your SEBI RIA registration.

CA Ramakrishna Sanjay
+91 7760252581

https://share.google/eao4Dp9eoW6wD2PG0

🏭 HUL’s ₹2,000 Crore Expansion: What Smart Investors Should Know

Hindustan Unilever Ltd (HUL) plans to invest ₹2,000 crore to expand manufacturing in Beauty, Personal Care & Home Care segments.

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🎯 Why This Matters

📈 1. Strong Growth Signal

➡️ Expansion = High confidence in future demand
➡️ Focus on premium products = Higher profit margins

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⚙️ 2. Profitability Boost Expected

✅ Automation & digital factories
✅ Better efficiency
✅ Improved operating margins over time

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🛡️ 3. Strengthens Market Leadership

HUL owns powerful brands like:
🧴 Dove | 🌸 Lakmé | 🧼 Surf Excel | 🧽 Vim

This investment helps protect and expand its dominance

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💡 Investor Impact Analysis

⏳ Time Horizon	Impact
Short Term	⚖️ Neutral
Long Term	📈 Positive
Risk Level	🟢 Low (Defensive Stock)

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🧠 Strategic Insight

✔️ Shows long-term vision
✔️ Supports future earnings growth
✔️ Positive signal for long-term wealth creation

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🏁 Bottom Line

👉 Expansion today = Growth tomorrow

HUL remains a strong long-term compounder for patient investors.

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For educational purposes only. Investors should evaluate valuation before investing.

🌍 Going Global: Best Route for Indian Investors – Mutual Funds, GIFT City, or Direct Overseas?

 Global investing is no longer optional. It is becoming a strategic necessity for diversification, currency hedge, and long-term wealth creation.

However, choosing the right route is critical. Your decision directly impacts tax, cost, compliance, and returns.

Here is a clear, decision-focused breakdown: 

━━━━━━━━━━━━━━━━━━━
📊 Three Routes to Invest Abroad

1️⃣ International Mutual Funds (Simplest Route)
✔ Invest through Indian mutual funds holding global stocks

Advantages:
• Very easy to start (SIP from ₹500)
• No forex handling required
• Fully managed by professionals
• Least compliance burden

Limitations:
• Limited choice of global companies
• No direct ownership
• Subject to MF restrictions / caps

Best suited for:
👉 Beginners
👉 SIP investors
👉 Investors preferring simplicity

━━━━━━━━━━━━━━━━━━━
2️⃣ GIFT City IFSC Investments (Balanced & Efficient Route)

✔ Invest in global stocks via India’s GIFT City platform

Major Benefits:
• Lower forex cost (0.25% to 0.75%) vs 1% to 3% overseas
• No foreign remittance complexity
• Direct global exposure
• Tax efficient structure

Taxation:
• Short Term: Slab rate
• Long Term: 12.5%

Considerations:
• Minimum investment higher (~$500+)
• Moderate complexity

Best suited for:
👉 Serious investors
👉 Tax-efficient global diversification
👉 Medium to large portfolios

━━━━━━━━━━━━━━━━━━━
3️⃣ Direct Overseas Investing (Full Control Route)

✔ Invest directly in US/global stocks via LRS

Advantages:
• Full control over stock selection
• Access to entire global market

Major Costs & Compliance:
• 20% TCS on remittance (refundable, but impacts cash flow)
• Forex cost: 1% to 3%
• Remittance charges ₹1,000 to ₹3,000
• Complex tax reporting in India

Best suited for:
👉 Advanced investors
👉 Large portfolios
👉 Investors wanting direct ownership

━━━━━━━━━━━━━━━━━━━
💡 Important Tax Insight

Global mutual funds are taxed at slab rate, whereas
GIFT City and Direct investments offer 12.5% LTCG benefit

This can significantly improve post-tax returns.

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🏆 Expert Recommendation – Decision Guide

✔ Choose International Mutual Funds if:
Simple, small SIP, beginner

✔ Choose GIFT City if:
Balanced approach, tax efficiency, long-term serious investing

✔ Choose Direct Overseas if:
Large capital, expertise, and desire full control

━━━━━━━━━━━━━━━━━━━
🎯 Professional Conclusion

For most Indian investors today, GIFT City offers the best balance of:

• Lower cost
• Better tax efficiency
• Global diversification
• Reduced compliance burden

━━━━━━━━━━━━━━━━━━━
📌 Strategic Insight

Global investing is not about access anymore.
It is about choosing the most efficient structure.

The right route can improve your returns significantly over time.

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☕ Invest smart. Invest global. Invest efficiently.

📞 +91 77602 52581

#GlobalInvesting #GIFTcity #MutualFunds #TaxPlanning #WealthCreation

Devyani International Limited - Q3 Results

 

On February 9th, 2023, Devyani International Limited released its Q3 FY 23 results. The largest franchisee of Yum! Brands in India is Devyani International, which runs KFC, Pizza Hut, Costa Coffee, Vangoo, and the Food Street.

 

The key financial metrics are tabulated below.

    (Rs. in Crores)

Particulars	Q-3 FY 23	Q-3 FY 22	YOY Growth
Revenue from Operations	791	624	27%
Total Income	799	628	27%
EBITDA	179	150	20%
Profit  before tax(PBT)	65	67	-3%
Profit after tax(PAT)	71	66	8%
Net Profit Ratio	8.99%	10.57%	-15%

 

Revenue from operations

The business reported operating income of Rs. 791 crores, a 27% year-over-year rise. For the nine months that ended on December 31, 2022, the company recorded revenues of Rs. 2,243 Crores, an increase of 50% from Rs. 1,493 Crores for the nine months that ended on December 31, 2021.

 

Net Profit

With an annual growth rate of 8%, the company's net profit (PAT) is Rs. 71 crores. The company's net profit ratio is currently down from 11% YOY to 9%. The gross profit ratio for the company is 70%, and it has been stable year over year.

EBITDA

The EBITDA margin of the company rose by 20% YOY to Rs. 179  crores.

EPS

For the nine months that ended in 2022, the Company's earnings per share more than doubled. EPS for the nine months ended in 2022 is Rs. 1.70, compared to Rs. 0.67 for the same period in the previous year. 

Amalgamation

At a meeting held on December 29, 2022, the necessary majority of equity shareholders and unsecured creditors approved the plan of amalgamation of the company's two wholly owned subsidiaries listed below.

1. Devyani Food Street Private Limited

2. Devyani Airport Services (Mumbai) Private Limited

 

 

 

 

 

 

 

Tata Power Limited Q3 FY 23 Results - Outstanding Performance

Tata Power Limited has posted it's Q3 FY 23 results on 3rd February, 2023.  The company is involved in power generation, transmission, and renewable energy. 

The key financial metrics are tabulated below.

Revenue from operations

The company recorded revenue from operations of Rs. 14,129 crores, an increase of 29% YOY. The company reported sales of Rs. 42,655 Crores for the nine months that ended on December 31, 2022, an increase of 38% from Rs. 30,856 Crores for the nine months that ended on December 31, 2021. 

Net Profit

The company declared net profit (PAT) of Rs. 1,052 Crores, with an outstanding growth rate of 91% year over year.  

EBITDA

The EBITDA margin of the company rose by 53% YOY to Rs. 3,816  crores.

 Segment-wise revenue and results

The Power Transmission and Distribution sector generates around 58% of the company's sales and 27% of its profits.

A whopping 64% of the profits among the group are contributed by the Power generating sector, which generates 38% of the company's revenue.

ITC Q3 Results, Dividend and Segment performance

ITC Limited has posted it's Q3 FY 23 results on 3rd February, 2023. 

The key financial metrics are tabulated below.

Rs. in Crores

Particulars	Q-3 FY 23	Q-3 FY 22	YOY Growth
Revenue from Operations	17,265	16,806	2.73%
Total Income	18,137	17,616	2.96%
EBITDA	6,223	5,102	21.97%
Profit  before tax(PBT)	6,677	5,492	21.58%
Profit after tax(PAT)	5,031	4,156	21.05%

Revenue from operations

The company recorded revenue from operations of Rs. 17,265 crores, an increase of 2.73% YOY. The company's hotel segment outperformed the others, while the agro business division has experienced decline in revenue.

 Net Profit

The company declared net profit (PAT) of Rs. 5,031 Crores, with an outstanding growth rate of 21.05% year over year. The Cigaratte division contributes significantly to the company's net profit.

 EBITDA

The EBITDA margin of the company rose by 21.97% YOY to Rs. 6,223  crores.

 Dividend

The Company has declared dividend of Rs. 6 per share. Check the important dates with respect to dividends below.

 

Dividend per share	Rs. 6/-
Record date	15th February, 2023
Payment date	3rd March 2023 to 5th March 2023

 

Segment wise revenue and results

(Rs. in Crores)

Segment	Q-3 FY 23	Q-3 FY 22	YOY Growth
FMCG Cigarattes
Revenue	7,288	6,244	16.72%
Profit	4,620	3,951	16.93%
FMCG Others
Revenue	4,841	4,090	18.36%
Profit	348	242	43.80%
Hotels
Revenue	712	473	50.53%
Profit	146	51	186.27%
Agri Business
Revenue	3,124	4,962	(36.21%)
Profit	391	295	32.54%
Paperboards, Paper and packaging
Revenue	2,305	2,046	12.65%
Profit	606	448	35.26%

         

About 40% of the company's sales come from cigarette sales, which also account for about 75% of the company's profits.

Even though the company's agribusiness revenue has declined, the company was still able to make excellent profits in this area. 

In the hotel sector, sales increased by 50% YOY while profits increased by 186% YOY. Its indeed a stellar performance in hotel sector.