PE-VC Fund Investments
Bira beer maker B9 Beverages raises Rs.85-Cr in rights issue at a 55% discount
New Delhi-based B9 Beverages, the maker of beer brand ‘ Bira ’, has raised INR 85 crore by selling fresh shares to existing investors at INR 325 apiece, which marks a discount of 55% from a previous round when Japanese beer maker Kirin came in at over INR 700 per share.The company, founded by Ankur Jain in 2015, is raising a total INR 100 crore in a rights issue for working capital requirements. The company, which had earlier planned to go public in 2026, has now put it off to 2028.In FY23, Japan's Kirin Global (the makers of Kirin Ichiban beer) invested USD 70 million to become the largest shareholder in B9 Beverages. In FY24, Mitsubishi UFJ Financial Group invested USD 10 million in the company, which subsequently secured an additional USD 50 million in external commercial borrowing from Kirin and Tiger Pacific Capital.
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