Carlsberg A/S has appointed three banks and begun preparations for a potential listing of its India unit that could raise as much as $700 million, according to people familiar with the matter. The Danish brewer is with plans to list its Indian operations, which have been a growth driver in the Asia-Pacific region. This IPO would be one of the largest consumer goods offerings in India this year.

India represents a key market for global brewers seeking growth in emerging economies. Carlsberg has been expanding its presence through both organic growth and acquisitions, with brands like Tuborg and Carlsberg gaining market share. The company's Indian unit has shown strong performance amid rising disposable incomes and changing consumer preferences toward premium beverages.

The timing of the listing comes as Indian markets have seen robust activity in consumer sector IPOs. Morgan Stanley, Goldman Sachs, and HSBC have been appointed to manage the offering, suggesting a high-profile debut. The funds raised would likely support further expansion in India's competitive beer market, where local and international brands compete for dominance.