Bira Unlisted Share Prices

A) Brand Journey & Global Expansion

1. Foundation & Rapid Scale

• Established in 2015 by B9 Beverages.
• Crafted especially for the urban, creative, fun-loving drinker.
• Quickly gained traction among millennials with its refreshing taste and bold identity.

2. US & Asia-Pacific Launches

• 2017: Entered New York City to begin its US expansion.
• 2018: Expanded into Singapore to strengthen Asia-Pacific presence.

3. Iconic ICC Global Partnership

• In 2019, Bira 91 became the first Indian beverage brand to sign a 5-year global sponsorship deal with the International Cricket Council (ICC).
• Featured in ICC Cricket World Cup 2019 (England).
• Deal estimated at $5–6 million/year, with massive visibility during Cricket World Cup 2023 and T20 World Cup 2021.

B) Leadership in the Craft Beer Market

Bira 91 is among the top 25 craft beer brands worldwide and was the fastest-growing beer brand globally in 2017, growing 5× that year.
Today, the company:

• Operates multiple breweries in India
• Maintains offices in nine cities, including New York
• Has a passionate team of 350+ professionals focused on reinventing beer for the modern world

Production Scale

Bira produces ~22 lakh cases/month, or ~2.64 crore beer bottles, reflecting significant post-COVID demand recovery.

C) Expansion Strategy & New Breweries

B9 Beverages plans to open its fifth brewery in India to meet rising demand for premium beer.
The new facility will expand capacity by 1 million hectoliters, boosting current capacity of 2 million hectoliters.

This expansion strengthens Bira’s competitive positioning against global rivals like:

• Budweiser (AB InBev)
• Heineken (Kingfisher)
• Carlsberg

D) Financial Performance & Path to Profitability

Annual Sales

• Bira 91 currently generates $170 million (~₹1,350 crore) in annual sales.
• Expected to turn operationally profitable within six months (as per Aug 2021 ET interview).

E) Private Equity Backing & Share Valuation

Bira 91 is heavily backed by top-tier private equity firms and high-profile Indian investors.

Key Investors

• Sequoia Capital
• Sofina Capital (Belgium)
• Celebrity investors: Farhan Akhtar, Zoya Akhtar, Ritesh Sidhwani
• Startup founders: Rohit Bansal (Snapdeal), Deepinder Goyal (Zomato)
• Funds: TR Capital, Anicut Capital, Smile Group

Major Fundraises

• 2018: $50M at valuation of ₹1,470 crore (Share Price ~₹400)
• 2019: ₹30 crore from Sixth Sense Ventures at valuation of ₹1,722 crore
• 2020: ₹38.08 crore from Sequoia & Sofina at Share Price ~₹600

F) Bira’s Inflation Strategy – Premium Beer Focus

Due to supply chain disruptions and global inflation (WPI 13%, CPI 7%), Bira shifted focus back to premium beer, as premium consumers are less price-sensitive.

Raw Material Cost Pressures

• Major inputs: Barley, Wheat, Glass, Aluminium
• Barley prices surged 65% YoY due to the Russia–Ukraine war
• Production costs rose 30–70%, pushing Bira to optimize pricing and premium mix

G) Indian Beer Industry Market Opportunity

India’s beer market was valued at ₹37,100 crore (2020) and is projected to reach ₹66,200 crore by 2026, growing at 9.2% CAGR, providing massive growth runway for Bira 91.

H) Bira Unlisted Share Valuation (2023–24)

• Unlisted Share Price: ~₹650/share
• Outstanding Shares: ~6 crore (after CCCPS conversions)
• Implied Valuation: ~₹3,900 crore
• FY23 Revenue: ~₹850 crore
• Market Cap / Sales: 4.5×

This valuation is aligned with high-growth consumer brands in early profitability stages.

I) Bira’s Competition

Bira 91 competes with fast-growing craft beer labels:

• White Owl
• Simba
• Brewbot
• White Rhino
• Kati Patang

J) Financial Performance (FY21–FY23)

FY21–FY23 Operating Metrics (₹ Crore)

Despite significant growth, Bira remains in investment mode, building brand equity, capacity, and distribution.

K) Share Capital Structure – Post-Conversion (31 March 2024)

After converting all CCCPS, OCPS & bonus issuances, Bira 91’s fully diluted equity includes:

• Core equity shares: 2,09,03,110
• Multiple CCCPS classes converted at 1:1 or premium ratios
• Total fully diluted shares: ~6 crore

This forms the basis of unlisted share valuations in FY24.