Bira has become popular over the years amid a thriving social drinking scene across the country
Bira 91 will get a retail presence through The Beer Cafe’s 33 outlets, while the pub chain gets the beer company’s support in innovations and supply chain.
Kirin, which first invested $30 million in Bira for an under 10% stake last year, is set to pump in the additional funds at an equity valuation of $450 million
By changing the ways in which it consumes energy and water and disposes of waste, the company wants to spark a revolution and ensure that every beer made in India has zero carbon emissions.
The investment would allow Bira, which has posted losses in recent years and has been hit by the COVID-19 pandemic, to break even in the 2022 fiscal year which starts in April 2021, Ankur Jain said.
US-based Sequoia Capital holds a roughly 45 percent stake in the company, while CEO Ankur Jain and his family own around 30 percent.
The brand will market its entire range of products at match venues and on all platforms, both broadcast and digital, on which ICC events are aired