Bira91 IPO Company Profile:
Bira 91 beer was launched by B9 Beverages Pvt Ltd in early 2015. Bira 91 is an Indian craft beer brand synthetic through B9 beverages Pvt. Ltd., released in 2015. The company’s first brewery unit turned into place in the Flanders region of Belgium where a craft distillery was used to settlement manufacture beer with components from France, Belgium, the Himalayas, and Bavarian Farms and the beer was imported to India. After preliminary fulfillment, the agency thereafter started manufacturing the beer in India with identical components. Crafted from wheat, barley, and hops, the beer is available in draft, 330ml, 650ml bottles, and 500ml cans.
B9 Beverages Pvt Ltd was founded by Ankur Jain, an entrepreneur who moved to the United States from India in 1998. Ankur Jain completed his degree in Computer Science from the Illinois Institute of Technology, Chicago. Jain briefly worked with Motorola before starting his first venture in Healthcare Revenue Management in New York which was later sold to an undisclosed healthcare provider network in 2007. He moved back to India and started his first beer venture in 2008; which imported traditional craft beers to India from Europe and US.
Bira91 IPO has eight beers in its portfolio:
- Bira 91 White (a low-bitterness wheat beer with a 4% alcohol content)
- Bira 91 Blonde (an extra hoppy craft lager)
- Bira 91 Light (a low-calorie lunchtime lager)
- Bira 91 Strong (a high intensity wheat beer with a higher percentage of alcohol content at 7%)
- Bira 91 Indian Pale Ale (the first IPA that was brewed and bottled in India)
- Bira 91 Rise (a premium Rice Lager with an 8% alcohol content)
- Bira 91 Gold (a strong wheat ale with an 8% alcohol content)
- Bira 91 Malabar Stout (a mimic of cold brew coffee with alcohol with a 4.2% alcohol content)
Bira 91 garnered unparalleled success amongst Indians due to its distinct taste that is low on the expected bitterness of the beer. Indian restaurant and bar owners saw a rise in Bira 91’s demand soon after its launch as the beer brand captured a sizeable market share basis word-of-mouth publicity, without leveraging traditional marketing campaigns initially. However, due to beer being made in Belgium and it being imported to India, Bira 91 had erratic supplies and due to a major supply crunch in 2016, it went off shelves for a while.
Bira 91 organized the Tribeca Film Festival in 2016, and also sponsored the Global Citizen Festival in 2017. In India, there was also Bira 91 FreeFlow, a 3-city tour with hip-hop artist Lady Leshurr
In 2018, Bira 91 organized its first owned on-ground event – Bira 91 April Fools’ Fest in New Delhi on the 1st of April the 91st day of the year.
In May 2018, Bira 91 was the beer for the month of May at the UN’s (“United Nations”) global headquarters in New York.
Bira 91 as of June 2018, is available in USA, India, Hong Kong, UK, Singapore, Thailand, and UAE.
Bira 91 in November 2018, global sponsorship was announced for the Cricket World Cup and various other ICC events. The brand will be benefitting from this partnership as India is hosting the cricket world cup 2023.
Bira91 IPO Major Investors :
Ankur Jain the founder of the company raised $1.5 million from a group of friends when he initially started B9 Beverages Pvt. Ltd.
In January 2016, B9 Beverages Pvt Ltd received its first round of funding with INR. 40 Crore ($6 million) from Sequoia Capital, which was Sequoia’s first investment in the Alcohol Beverage segment. It also saw participation from Angel investors of India like Rohit Bansal and Kunal Bahl the Co-founders of Snapdeal, Ashish Dhawan (ChrysCapital), Deepinder Goyal (Zomato), and Mayank Singhal.
In 2018, B9 Beverages Pvt Ltd raised a further amount of $50 million from Sofina, a Belgian family-owned fund, and its existing investors.
In May 2019, Bira 91 raised funding of $4.3M from Sixth Sense Ventures in its Pre-Series C round. Bira 91 raised $10 million in debt funding, to increase production capacity to 1.7 million cases from 400,000 cases.
In January 2021, the company raised $30 million from Japan’s Kirin Holdings.
Bira91 IPO Details:
| IPO Open Date | Not Available |
| IPO Close Date | Not Available |
| Listing Date | Not Available |
| Face Value | ₹10 per share |
| Price | Not Available |
| Lot Size | Not Available |
| Issue Size | Not Available |
| Fresh Issue | Not Available |
| Offer for Sale | Not Available |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | Not Available |
| NII (HNI) Shares Offered | Not Available |
| Retail Shares Offered | Not Available |
| Promoters | Ankur Jain, Shashi Jain, Sakshi Vij Chopra, and Varun Kwatra |
Bira91 IPO Financial Analysis:
| Particulars | FY-22(in cr.) | FY-21(in cr.) | YoY |
| Revenue from Operations | 7177.71 | 4282.08 | 67.62% |
| Other Income | 159.88 | 346.15 | -53.8% |
| Cost of Goods Sold | 2328.44 | 826.86 | 181.60% |
| Excise Duty on Sales of Goods | 3266.66 | 2475.79 | 31.94% |
| Employee Cost | 907.12 | 629.68 | 44.1% |
| Other expenses | 2407.88 | 1304.31 | 84.6% |
| EBITDA | -1572.51 | -608.41 | LOSS |
| EBITDA margin% | -21.91% | -14.21% | |
| Depreciation | 900.95 | 742.43 | 21.4% |
| Interest | 877.25 | 762.05 | 15.12% |
| Profit / (loss) before tax | -3350.71 | -2112.89 | LOSS |
| Total tax | 0.00 | 0.00 | |
| Profit / (loss) After tax | -3350.71 | -2112.89 | LOSS |
| Profit / (loss) After tax margin% | -46.68% | -49.34% |