Bira91, one of the renowned names in the alcohol industry, has become a ‘legal entity’ as it is gearing up to enlarge its Employee Stock Ownership Plan (ESOP) pool. Started in 2015 by importing craft beers from Belgium, and within three years, the company ranked amongst 25 craft beer brands worldwide. The company was also counted as the world’s swiftly growing beer brand in 2017.
In 2019, the company emerged as India’s first beverage brand to sponsor ICC World Cup & T20 World Cup series for five years. The enormous growth and success captured the attention of retail investors to invest in Bira91 unlisted shares. Last year, the startup converted into a public company and renamed itself B9 Beverages Limited, as per the regulatory filings of the company; now, the company is all set to expand its Employee Stock Ownership Plan (ESOP) opportunities after becoming a public entity. Continue reading this blog till the end and learn about Bira91’s expanded ESOP pool.
Bira91 – Robust Business Model
Bira91 is a well-known beer brand manufactured by B9 Beverages Pvt. Ltd. As the company offers white ale, blonde large, strong ale, and light beer, it has become a rage amongst GenZ and urban millennials. The company is also India’s fourth-largest craft beer brewer behind Carlsberg, Heineken, and Aneheuser-Busch InBev. The first brewery unit of the company was located in the Flanders region of Belgium, and currently, the company operates four breweries in India. Presently, the company has a production capacity of 2 million hectoliters, about 5-10% shares of the beer market in cities like Mumbai, Bangalore, and New Delhi. The company also plans to open its fifth brewery in Madhya Pradesh with a production capacity of 400,000 hectoliters before the end of this year.
Presently, Bira91 receives 70% of its revenue from bars and restaurants, while the remaining 30% comes from retail. In 2020, the beer market was valued at 5,533.73Mn litres in terms of volume and was expected to reach 9,004.74Mn litres by 2025, with a CAGR of 10.89%. The growing beer market is an opportunity for investors to Bira91 pre-IPO shares to boost their investment portfolio.
Expanded ESOP Opportunities Bira91 Board Of Directors
Bira91, or B9 Beverages Limited, is set to submit its Draft Red Herring Prospectus (DRHP) to India’s market regulation Securities Exchange Board of India (SEBI). In the prospectus, the company will share the amount it plans to raise and other financial information. The company decided to go public after raising $70 million from Japanese beverage conglomerate Kirrin Holdings.
Meanwhile, the company’s board of directors has given the green light to boost the EPOS pool. Fundamentally, a significant resolution was passed by the board of directors of the company to raise EPOS by 1,566,390 options. However, the current EPOS pool of the company stands at 3,649,199 options. With this decision, the company is striving to become the leader in the beverage industry. So, if you want to buy Bira91 unlisted shares, connect with the top unlisted share broker platform today.
Bira91 Top IPO Investors
Initially, founder Ankur Jain raised $1.5 million from a group of his friends when he started B9 Beverages Limited. Back in January 2016, the company expanded its biggest round of funding with INR. 40 crore ($6 million) from Sequoia Capital, which was Sequio’s first investment in the Alcohol beverage segment. The company also had participants from Angel Investors in India like Deepinder Goyal, Co-founder of Zomato, Rohit Bansal and Kunal Bahl (Snapdeal), Ashish Dhawan (Chrys Capital), and Mayank Singhal.
Further, in 2018, the company managed to raise about $50 million from Sofina, a Belgian family-owned fund, and its existing investors. Then in May 2019, the company raised a fund of $4.3 Million from Sixth Sense Ventures in its pre-series C round. Bira91 raised about $10 million in debt funding to increase its production capacity to 1.7 million cases from 400,000 cases. Moving ahead in January 2021, the company further raised $30 million from Japan’s Kirin Holdings. Till now, the company has raised almost $280 million in funding from different investors.
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