Bira 91 Maker Plans To Go Public In 2026

B9 Beverages (Bira 91) Plans 2026 IPO.

Expert Analysis:

• IPO Plans: B9 Beverages Ltd, owner of Bira 91, plans an IPO in 2026 and Morgan Stanley has been tapped for the pre-IPO process.

• Recent Funding: The company raised $25 Mn (about INR 208 Cr) last month via External Commercial Borrowing (ECB) from its existing backer Kirin Holdings.

• Public Entity Status: Founded in 2015, Bira 91 is now a public entity renamed B9 Beverages Ltd in December 2022.

• Market Position: Bira 91 claims to be the fourth-largest beer company in India with a 5% market share across key regions.

• Company Background and Investor Profile: Founded in 2015 by Jain, B9 Beverages is known for its craft beer, ciders, and seltzers, with investors including Peak XV Partners, Sofina, and DS Group, having raised $449 Mn in funding so far.

• Operational Reach: Bira 91 claims to sell its beer in 550 towns across 18 countries.

• Financial Performance: The company's net loss rose 12% to INR 445.4 Cr in FY23 from INR 396 Cr in FY22, burdened by higher expenses and excise duty.