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Private Equity company, Tiger Pacific, had acquired around 4 percent in the firm in exchange for $25 million which effectively values the company at around $625 million.
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.
"The ACCC considers that the proposed acquisition is unlikely to result in higher beer prices for consumers," Australian Competition and Consumer Commission (ACCC) Chairman Rod Sims said in a statement.
