Bira 91 raised more than $252 Mn in total funding till February 2024 from investors such as Peak XV Partners, Sofina Ventures, among others
The Delhi NCR-based startup is eyeing a public listing after having converted into a public company in 2022
Bira 91’s net loss surged 12% YoY in FY23 to INR 445.4 Cr as against INR 396 Cr in the previous fiscal year
Delhi NCR-based beer brand Bira 91 has raised $25 Mn (about INR 208 Cr) via external commercial borrowing (ECB) from its existing backer Kirin Holdings.
Earlier this year, the company’s board passed a special resolution to secure $25 Mn via ECB from Kirin Holdings in two tranches of $12.5 Mn each, regulatory filings showed.
It further said that Kirin Holdings may opt to convert the ECB into Series D Compulsory Convertible Preference Shares (CCPS).
Entrackr reported the development first.
Founded in 2015 by Ankur Jain, Bira 91 sells craft, lager and strong beers under names such as Bira 91 Rise, White, Gold, Blonde Summer Lager and Boom among others. In 2020, it started selling non-alcoholic beverages.
Over the years, it has established a presence across 550 towns and cities, spanning over 18 countries.
The startup claims to be the fourth-largest beer company in India, sitting at a market share of 5% across key markets.
The latest investment comes three months after Tiger Pacific Capital reportedly acquired nearly 4% stake in Bira 91’s B9 Beverages for $25 Mn in March.
It is pertinent to note that Bira 91 is eyeing a public listing after converting into a public company in 2022.
As per data compiled by Inc42 DataLabs, Bira 91 raised more than $252 Mn in total funding till February 2024. The startup counts Peak XV Partners, Sofina Ventures, Japan’s Kirin’s Holdings and MUFG Bank among its backers.
The company has also been on an aggressive buying spree for quite some time. In October 2022, Bira 91 acquired alco-beverage chain The Beer Cafe in an all-stock deal.
