Bira 91 Secures USD 25 Mn in Series D From Kirin Holdings The New Delhi-based company has now amassed a total of USD 50 million in capital over the past three months.
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The flavoured beer maker, Bira 91, has announced the raising of USD 25 million in Series D funding from the company's existing investor, Kirin Holdings, from Japan, as per the document filed with the Ministry of Corporate Affairs.
The company has agreed to avail the external commercial borrowing (ECB) in two tranches of USD 12.5 million, according to the regulatory filing. Bira 91 has taken an intriguing step by providing Kirin Holdings the option to convert their outstanding borrowings into Series D Compulsorily Convertible Cumulative Preference Shares (CCCPS).
This strategic move follows Bira 91's recent USD 25 million funding round from Tiger Pacific Capital in March 2024. The New Delhi-based company has now amassed a total of USD 50 million in capital over the past three months. The company also owns 39 pubs under the brand name The Beer Café, which it acquired in 2022 to scale up its retail presence.
The Ankur Jain-led company has raised a total of USD 350 million to date. In its most recent funding round, it secured USD 70 million, led by Japanese company Kirin Holdings, in November 2022. Peak XV (formerly Sequoia Capital) held the largest external stake at 24.83 percent, while Kirin Holdings owned 21.25 percent of the company during its last equity fundraise, as per reports from Entrackr.
Another report by IMARC Group expects the Indian beer market to reach about USD 10 billion in 2032, exhibiting a compound annual growth rate (CAGR) of 7.1 percent during 2024–2032.
B9 Beverages Ltd, the parent company of Bira 91, achieved a 14.4 percent increase in consolidated total revenue, reaching INR 848.7 crore during the financial year 22–23. However, it also faced an 11 percent rise in net loss, totaling INR 445.5 crore in the fiscal year of 2023, as reported by YourStory. The company's financial performance reflects both growth and challenges, highlighting the competitive landscape in the beverage industry.
