Mount Everest Breweries files DRHP for IPO
The Madhya Pradesh-based brewer plans to use IPO proceeds for a new brewing facility, debt repayment and general corporate purposes as it expands its beer business.
INDIA – Mount Everest Breweries Limited has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).
The proposed IPO comprises a fresh issue of up to 11.5 million equity shares with a face value of Rs 10 each.
The company may also undertake a pre-IPO placement in consultation with its book-running lead managers before filing the Red Herring Prospectus. Any proceeds from the placement would be deducted from the fresh issue.
According to the DRHP, Mount Everest Breweries plans to allocate Rs 230 crore (US$23.95M) from the fresh issue towards partly financing a proposed brewing facility with a capacity of 1.00 million hectolitres per annum (HLPA).
A further Rs 70 crore (US$7.29M) will be used for the repayment or pre-payment, in full or in part, of certain borrowings, with the remaining proceeds earmarked for general corporate purposes.
The IPO will be conducted through a book-building process. Up to 50% of the net offer may be allocated to qualified institutional buyers, while at least 15% will be available to non-institutional bidders and 35% to retail individual bidders.
Incorporated in 1999, Mount Everest Breweries is based in Madhya Pradesh and operates across the economy, core and premium beer segments. According to a Technopak report cited in the DRHP, the company accounted for approximately 36.3% of Madhya Pradesh’s beer production volume in FY26.
The brewer has a presence across 16 states and three Union territories. Its proprietary portfolio comprises five brands: Mount’s 6000, Lemount, Mount’s Lager, Dabang and Stok.
As of August 31, 2026, its products were available across 22,229 retail outlets and other touchpoints. The company also undertakes contract brewing, distribution and contract manufacturing for other beer brands.
Mount Everest Breweries currently operates the Simrol brewing facility in Indore and a brewing facility in Mysuru. It has also entered into a contract brewing arrangement in Assam.
The company reported revenue from operations of Rs 1,017.8 crore in FY26, compared with Rs 546.6 crore (US$56.92M) in FY24. Net profit increased to Rs 53.18 crore (US$5.54M) from Rs 20.36 crore (US$2.12M) over the same period.
According to the Technopak report cited in the DRHP, Mount Everest Breweries recorded an EBITDA CAGR of 45.83% between FY24 and FY26 among selected peer companies. Its PAT margin stood at 6.23%, while gross margin reached 46.86% in FY26.
The company said the proposed IPO proceeds will support capacity expansion, debt repayment and its broader corporate requirements as it continues developing its beer manufacturing and distribution operations.
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