Key Points
New Delhi: B9 Beverages, maker of Bira 91 beer and owner of The Beer Cafe pub chain, is set to raise Rs 400 crore ($50 million) of fresh funds, executives close to the development said..
This will be the third round of fund raising for B9 Beverages in 13 months..
The past 13 months have seen Kirin Holdings Co. and Japan's MUFG Bank investing a total $80 million in B9 Beverages separately, valuing the beer maker at $550-600 million..
In November last year, Japanese beverage group Kirin Holdings raised its stake in Bira 91 to 20% for '570 crore from 10%, making it the largest fundraise for the beer maker..
Market research company IMARC Group has said that the Indian beer market reached '41,470 crore in 2023 and forecast the market to grow to '78,120 crore ($9.4 billion) in sales by 2032, growing at 7.1% between 2024 and 2032...
