TR Capital Partners LLC, a private equity firm based in Hong Kong, is likely to buy stakes worth $10-million (approximately Rs 67 crore) in B9 Beverages, the Indian company that makes the popular bottled craft beer, Bira 91. According to Livemint, the deal is close to being finalised. This will give TR Capital a minority stake in the company, which received $ 6 million (Rs 40 crore) from United States venture capital firm Sequoia Capital in January.
The company plans to use the money to expand its reach in India and abroad. Earlier this month, the company’s founder Ankur Jain told Scroll.in that the beer had become so popular in India’s metros, that the company was struggling to keep up with the demand. Bira was reportedly selling 35,000 cases a month in January, and more than 50,000 cases a month by June.
TR Capital’s other Indian investments include e-commerce majors Flipkart and Urban Ladder.
Limited-time offer: Big stories, small price. Keep independent media alive. Become a Scroll member today!
Our journalism is for everyone. But you can get special privileges by buying an annual Scroll Membership. Sign up today!