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The corporate has raised the funds by issuing 3,00,958 Sequence C1 CCPS at a face worth of INR 100 per share
The whole quantity raised by the corporate is INR 116,542,784 from 18 traders together with the Vikramaditya Mohan Thapar Household Belief
Earlier this 12 months, Bira91’s guardian firm B9 Drinks had raised $20 Mn in a Pre-Sequence C funding spherical
Delhi-based craft beer maker B9 Drinks, the guardian firm of Bira 91, has raised over INR 11.5 Cr in Sequence C funding from a number of traders.
In keeping with filings with the Ministry of Company Affairs (MCA) accessed by Inc42, the corporate has raised the funds by issuing 3,00,958 Sequence C1 Cumulative Compulsorily Convertible Desire Shares (CCPS) at a face worth of INR 100 per share and a premium of INR 287 per share.
The whole quantity raised by the corporate is INR 116,542,784 from 18 traders — Reddevanga Ventures LLP (25,837 shares), Harish Pravishchandra Shah (26,000 shares), Oriental Carbon and Chemical compounds Ltd (25,837 shares), Ashwini Upadhyay (12,500 shares), Arvind Bansal(1,243 shares), Atul and Sabina Gupta(2,487 shares), Nihar Kothari (2,486 shares), Siddharth Kothari (2,486 shares), Naveen Sangari (12,461 shares), Shyam Sundar Palreddy (25,837 shares), Madhuri Jain (2,253 shares), Anurag Jain (3,875 shares), PDK Impex Pvt Ltd (2,486 shares), Jaideep Hansraj (2,650 shares), Chakravadhanula Venkateswara Sarma (13,000 shares), Rishabh Jain (6,460 shares), Vikramaditya Mohan Thapar Household Belief (1,29,185 shares) and Abhishek Goyal (3,875 shares).
Based in 2015 by Ankur Jain, B9 Drinks is the guardian firm behind craft beer model Bira 91. It’s accessible in a number of variants and has a presence throughout Delhi-NCR, Mumbai, Goa, Kolkata, Bengaluru, Pune, and Chandigarh. At the moment, the corporate operates two breweries in Andhra Pradesh and Karnataka and has places of work in 9 cities together with New York. Final 12 months, it additionally entered the mass manufacturing section with its product Increase.
In April 2020, the corporate raised $20 Mn in a Pre-Sequence C bridge spherical led by current traders Sequoia Capital India and Belgium’s Sofina Capital. It’s half of a bigger $30 Mn Pre-Sequence C fairness spherical. Korean non-public fairness fund Neoplux and a number of undisclosed household places of work shall be collaborating within the spherical.
On the time, the corporate’s founder had stated that Bira has market shares increased than 5% when it comes to total beer gross sales and a 20% market share within the premium class. “2020 is a key inflection point for the company where we expect to reach double-digit market share in a number of states through the year,” Jain had added.
Apart from B91 Drinks, different main breweries in India are Carlsberg, SABMiller India, Som Distilleries and Breweries ltd and Anheuser-Busch Inbev. The biggest brewery in India by market share is the Bengaluru-based United Breweries.
The annual consumption of alcohol has seen an uptick on account of adjustments in demography, excessive lifestyle, and disposable earnings.
In keeping with a Statista report, alcoholic beverage consumption in India was estimated to develop from 5.four Bn liters in 2016 to six.5 Bn liters by 2020.
Regardless of the sale of alcohol being banned in a number of states, the variety of scams associated to on-line gross sales of alcohol has been growing.
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