India: Craft beer maker Bira in talks to raise around $132 million in its largest-ever funding round

Indian beer maker Bira is reportedly in advanced talks to raise around $132 million in its largest-ever funding round, with New York-based Global Emerging Markets (GEM) among the potential investors, Menafn.com reported on October 8.

The proposed deal includes $50 million in equity and $82 million in structured credit, though the size of GEM's stake has not been disclosed, according to a report by Reuters.

Bira CEO Ankur Jain confirmed receiving term sheets for substantial investments through both debt and equity, but declined to reveal investor details, the report added.

The funds are expected to be used for working capital requirements, settling pending dues, and supporting business recovery and supply chain restructuring.

Founded in 2015, Bira rapidly emerged as one of India's fastest-growing beer brands, fueled by the country's evolving social drinking culture. Despite its less than 5% market share, the brand carved out a niche in a market dominated by global players such as AB InBev, Carlsberg, and Heineken.

However, regulatory hurdles have posed challenges, particularly in 2023 - 24, when a name change from B9 Beverages Pvt. Ltd. to B9 Beverages Ltd. caused significant disruptions, leading to losses of about ₹80 crore.

Bira has raised $210 million to date and was last valued at $450 million, with investors including Kirin Holdings and Peak XV Partners (formerly Sequoia Capital India).

Last year, the company announced listing plans for 2026.

08 October, 2025