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Bira is planning to raise $132 million, with GEM tipped to lead a $50 million equity infusion and the rest via structured credit.
Bira is a pioneer in India's craft beer space, competing against big names like Carlsberg, though currently holding under 5% market share.
The why: the funds will be used for working capital, paying off debts, and restructuring operations.
Moreover, the company has been under pressure, its 2023–24 name change cost it ₹80 crore and disrupted operations. This capital raise could offer relief, help stabilize finances, and fuel a turnaround.
Big picture: India’s beer market industry is now seeing a surge in craft and premium beers as young consumers seek variety and quality. The market, worth around $9–10 billion, is projected to grow 7–8% annually over the next five years, driven by urban millennials, rising disposable incomes, and evolving social norms around alcohol.
