Bira to raise US$132M to support working capital needs, clear pending obligations
Indian craft brewer Bira eyes $132 million in fresh capital to strengthen operations and support business restructuring plans.
INDIA – Indian craft beer maker Bira is reportedly in advanced discussions to raise $132 million in its largest fundraising to date, with New York-based investment group Global Emerging Markets (GEM) among the potential investors.
According to Reuters, the company plans to secure US$50 million in equity funding from GEM and an additional US$82 million through structured credit.
Bira CEO Ankur Jain confirmed that the company has received “term sheets for substantial investments in the form of structured debt and equity,” though he did not disclose investor names or specific figures.
Founded in 2015, Bira has grown into one of India’s most recognizable craft beer brands amid the country’s expanding social drinking culture. Despite its popularity, the market remains dominated by major international brewers such as AB InBev, Carlsberg, and Heineken, with Bira holding less than a 5% market share.
Jain said the company recently underwent a significant rebranding process, changing its legal name from B9 Beverages Private Ltd to B9 Beverages Ltd in the 2023/24 financial year. The change led to approximately INR 800 million (US$9 million) in losses due to state-level re-registration requirements for its brands and labels, causing months of operational disruption.
The funds raised from the new round are expected to support working capital needs and clear pending obligations as the company continues restructuring its sales and supply chain operations. Jain emphasized that Bira is “making serious efforts for business recovery.”
Over the years, Bira has raised a total of US$210 million and was valued at US$450 million in 2023. Its existing investors include Japan’s Kirin Holdings and venture capital firm Peak XV, formerly known as Sequoia Capital India.
India’s beer industry, which consumed 345 million cases in 2023, is among the fastest-growing in the Asia-Pacific region. The market is projected to grow from US$4.50 billion in 2022 to US$7.31 billion by 2028, at a compound annual growth rate (CAGR) of 8.1%.
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