Pernod Ricard SA, the French distiller renowned for brands such as Absolut vodka and Chivas Regal whisky, has reportedly commenced the initial stages of an initial public offering (IPO) for its Indian subsidiary, Pernod Ricard India Pvt. Ltd. The company is working closely with Goldman Sachs Group Inc. and the legal firm Cyril Amarchand Mangaldas to prepare for the potential listing. While deliberations are ongoing, the exact timing and details of the offering remain subject to change. If successful, this IPO would add Pernod Ricard to the increasing number of multinational corporations entering the Indian equity market, which has seen approximately $2.9 billion raised through IPOs this year alone. Pernod Ricard India is significant for the company, being its largest market by volume and second-largest by value. The company employs over 1,500 people across 24 production sites in India. Last year, it divested its Imperial Blue business to Tilaknagar Industries Ltd. for an enterprise value of up to ₹41.5 billion (approximately $446 million).