India: Maker of Bira 91 beer plans to raise new round of funds
B9 Beverages, the maker of Bira 91 beer plans to raise Rs. 400 crore in fresh funding. The funds are set to come from existing investors as well as a new one. The current investors include Japan's Kirin Holdings, Sequoia Capital and Sofina of Belgium. The company plans to raise finds to expand its current business, Storyboard18 reported on December 5.
This will count for the third round of fund-raising for B9 Beverages in 13 months.
Bira91’s current portfolio includes craft, lager and strong beer with products such as Bira White, Gold and Boom, besides cider ale and seltzers. The investment will be used to increase the capacity of distribution of their current range of products and expand Bira 91 Taproom chains and their Beer Cafe’s.
Bira 91 is currently valued at $550-$600 million.
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