Carlsberg files IPO papers to raise $700 million

Carlsberg's Indian unit has filed IPO papers to raise around $700 million, targeting a valuation of about Rs 30,000 crore. The Danish brewer has been preparing for its market debut over the past year, including adding four directors to its board and converting into a public limited company. United Breweries, which controls half India's beer market, currently has a market cap of Rs 35,377 crore.