Bira 91’s Parent Company: A Closer Look at the $50-Million Funding Round

B9 Beverages Secures $25 Million ECB from Kirin Holdings for Bira 91 Expansion

B9 Beverages, the parent company of popular beer brand Bira 91 and restaurant chain The Beer Cafe, has successfully raised $25 million through external commercial borrowing (ECB) from Kirin Holdings, an existing investor. The funds will be disbursed in two equal tranches of $12.5 million each, as revealed by regulatory filings.

With this fresh infusion of capital, Bira 91 has completed a significant funding round initiated earlier this year. In total, the company has garnered $50 million in the past three months, including $25 million from Kirin Holdings in June and another $25 million from Tiger Pacific Capital in March.

Tiger Pacific Capital, a private equity firm, acquired approximately four percent of Bira 91 for $25 million, placing the company’s valuation at around $625 million.

Kirin Holdings has the option to convert its ECBs into Series D Compulsorily Convertible Preference Shares (CCPS) at a later stage, according to regulatory filings obtained by TheKredible.

Based in Delhi, Bira 91 has raised over $450 million to date from investors such as Peak XV, Sixth Sense Ventures, and others. The company reported a revenue of Rs 824 crore for FY23, marking a 14 percent increase from Rs 719 crore in FY22. Despite steady growth in revenue, the company’s losses widened by 12 percent, from Rs 396 crore to Rs 445 crore during the same period.