Bira 91 raises $10 million from MUFG Bank

Beer maker, Bira 91 raised $10 million from MUFG bank, with an aim to raise its beer production and cater to the rising demand in the country. Bira 91 holds  5% market share across various parts of India, thrice of its pre covid numbers.

In an interview to CNBC-TV18, Ankur Jain, Founder & CEO of Bira91 said, “We will be utilising these funds for expanding capacity and growing the business. After the pandemic this is the first summer for beer companies which is unencumbered. So we are projecting significant volume and value growth over the next 12-24 months.”

Other beer players catering to Indian market are Kingfisher, Carlsberg, Heineken, Budweiser, among others.