Latest news with #Bira91
Yahoo
07-07-2025
- Business
- Yahoo
Bira 91 re-enters Uttar Pradesh through new manufacturing partnership
B9 Beverages' Bira 91 has re-entered Uttar Pradesh in India after securing a new manufacturing and distribution partnership, and has revealed plans to develop a local brewery in the state. According to a statement from Bira 91, its products are now being manufactured through a partnership with an unnamed "in-state brewery". The group said it had also committed over 200 crore ($2 billion) towards establishing its own brewery in Uttar Pradesh. The group expects the facility to be operational from 2026, and that the space "will further enable local production, reduce lead times and improve profitability in the state". According to Bira 91, the market in Uttar Pradesh has grown from making up 3.5% of its national beer sales in 2018 to an estimated 12-13% in 2025. As part of the roll-out, the beer brand will be re-introducing Bira 91 Boom, Rise, White, and Gold to consumers in major cities across the state. The move, the group said, is key to the company's ambition to 'dominate India's premium beer segment'. Ankur Jain, founder and CEO of parent company B9 Beverages said: 'We are in the midst of a remarkable turnaround. 'The past few years were tough, but we've rebuilt a company that's ready to scale. Our renewed focus on Uttar Pradesh – a key market – is central to this, and we aim to achieve double-digit market share there in the next 24 months.' He added: 'Despite being just 10 years old and facing disruptions like COVID-19, Bira 91 has grown at a 65% CAGR over the last decade to become a true 'Imagined in India' challenger to global brands. 'This success comes from building a fresh brand with flavourful products – and our UP brewery will bring this vision to life in India's most populous and rapidly transforming state.' "Bira 91 re-enters Uttar Pradesh through new manufacturing partnership" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Time of India
03-07-2025
- Business
- Time of India
Bira beer maker restructures leadership amid liquidity woes and revenue decline
B9 Beverages , the makers of Bira beer , has hired senior leaders and made changes to its top deck at a time when the company is facing liquidity woes and repayment issues to retail investors from KredX, a fintech marketplace. The company appointed Vikram Qanungo, who returns to Bira 91 after 2018, as its chief financial officer again. He was Bira 91's CFO in 2015-2019, replacing Meghna Agrawal, who held the position from 2019-2024. Bira 91 also appointed Dr. Manoj Mishra, ex head of supply chain at Ball Corporation (India and SEA), as the vice president, manufacturing. The company has promoted Nayanabhiram Deekonda, a nine year veteran in the company, as SVP – sales, heading India sales, a designation that was vacant since Deepak Malhotra, who left in 2023 to join Inbrew as chief business officer - beer. Deekonda was SVP - chief of people, product and growth from October 2024. B9 Beverages also promoted Deepak Sinha, ex VP international business, as SVP – brand & innovation. Sudhir Jain, SVP & chief of integrated supply chain will also handle additional responsibilities of heading people function at the company. And finally Vandana Sahni, ex-head of financial planning and analysis at Bira 91 is also promoted to chief of staff and head, strategy. The company confirmed these appointments and management changes to ET. According to regulatory filings, Bira91 posted revenues' decline of 22% in FY24 to Rs638 crore, and its losses widened by 40.58% to reach Rs749 crore. ET reported in May that the company was behind on paying its retail investors as well, in the company KredX, to which Jain back then said, "There are liquidity issues that the company is facing… but the management has told lenders that it is in the process of raising funds that will help it manage debt repayment" Back in June last year, ET had also reported on the company having supply issues, with almost no supply in most of its key markets for months at a stretch. The valuation of the company has been flat from October 2021 till April 2024 at $523 million, as per Tracxn. The company is also in advanced talks with BlackRock, which is planning to invest Rs500 crore in the promoter group of Bira91.
Economic Times
18-05-2025
- Business
- Economic Times
BlackRock could pour ₹500 cr into Bira91's promoter group
American asset management fund BlackRock is in advanced talks to invest '500 crore in the promoter group of B9 Beverages, maker of Bira91 craft beers, through structured debt, according to multiple people directly aware of the negotiations. ADVERTISEMENT The funds-to be infused in holding companies controlled by B9 Beverages promoter Ankur Jain-will be used to acquire early shareholders such as Peak XV Partners and Sofina's holdings and to infuse new capital into B9 Beverages, one of the executives said. The development comes amid liquidity woes, losses and supply disruptions, which the company has attributed to its name change that triggered a regulatory hurdle and led to inventory losses. The company reported '748-crore net loss in FY24 while its revenue declined to '638 crore from '927 crore in FY23. Its volume sales fell to 6-7 million cases in FY24 from 9 million cases in the previous fiscal. Besides '500-crore debt from BlackRock, B9 is also launching a '100-crore rights issue on May 22, which is expected to close in June, one of the executives cited above said. "B9 and its founders are in the process of raising $100 million in aggregate from a set of investors and family offices," Jain told ET in an email reply. "The capital will be infused as primary capital in the company and part of it would be deployed by the founders to buy out early-stage investors." ADVERTISEMENT He declined to divulge further email seeking comments from BlackRock remained unanswered. ADVERTISEMENT The world's largest asset manager owns an equity stake of a little under 8% in Molson Coors, the world's fourth largest brewer that owns popular American beer brands Miller Lite, Coors Lite and Blue Moon Belgian White. It also owns a stake in Treasury Wine Estates, a prominent Australian wine company that owns 70 brands which are marketed globally."B9 Beverages has a term sheet for about $100 million to be split into two tranches. So, some part of the funds could come in the first tranche and the remainder in the second tranche," said one of the executives cited above. "There's a plan to restructure some of the obligations and make the company operationally more efficient." ADVERTISEMENT B9 has created a long-term brand with Bira at a time when it's difficult to build a national beer brand. "So, that's the conviction investors have behind backing the company," he said. BlackRock's funding is expected to be in the form of a debt instrument with a back-ended coupon to incentivise the borrower to meet certain conditions, such as operational targets of revenue and Ebitda goals of B9 Beverages. (You can now subscribe to our Economic Times WhatsApp channel)
Time of India
18-05-2025
- Business
- Time of India
BlackRock could pour ₹500 cr into Bira91's promoter group
American asset management fund BlackRock is in advanced talks to invest '500 crore in the promoter group of B9 Beverages , maker of Bira91 craft beers, through structured debt , according to multiple people directly aware of the negotiations. The funds-to be infused in holding companies controlled by B9 Beverages promoter Ankur Jain-will be used to acquire early shareholders such as Peak XV Partners and Sofina's holdings and to infuse new capital into B9 Beverages, one of the executives said. The development comes amid liquidity woes , losses and supply disruptions, which the company has attributed to its name change that triggered a regulatory hurdle and led to inventory losses. The company reported '748-crore net loss in FY24 while its revenue declined to '638 crore from '927 crore in FY23. Its volume sales fell to 6-7 million cases in FY24 from 9 million cases in the previous fiscal. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Want to know more? click here Undo Besides '500-crore debt from BlackRock, B9 is also launching a '100-crore rights issue on May 22, which is expected to close in June, one of the executives cited above said. Live Events "B9 and its founders are in the process of raising $100 million in aggregate from a set of investors and family offices," Jain told ET in an email reply. "The capital will be infused as primary capital in the company and part of it would be deployed by the founders to buy out early-stage investors." He declined to divulge further details. An email seeking comments from BlackRock remained unanswered. The world's largest asset manager owns an equity stake of a little under 8% in Molson Coors, the world's fourth largest brewer that owns popular American beer brands Miller Lite, Coors Lite and Blue Moon Belgian White. It also owns a stake in Treasury Wine Estates, a prominent Australian wine company that owns 70 brands which are marketed globally. "B9 Beverages has a term sheet for about $100 million to be split into two tranches. So, some part of the funds could come in the first tranche and the remainder in the second tranche," said one of the executives cited above. "There's a plan to restructure some of the obligations and make the company operationally more efficient." B9 has created a long-term brand with Bira at a time when it's difficult to build a national beer brand. "So, that's the conviction investors have behind backing the company," he said. BlackRock's funding is expected to be in the form of a debt instrument with a back-ended coupon to incentivise the borrower to meet certain conditions, such as operational targets of revenue and Ebitda goals of B9 Beverages.
