PE interest in India’s beers sector is intensifying, with New York-based alternative investment group Global Emerging Markets (GEM) among the leading contenders to invest in craft brewer Bira as the company seeks to raise $132m in fresh capital, according to a report by Reuters.
The report cites documents revealing that discussions are ongoing over a $50m equity infusion and a further $82m in structured credit.
Bira CEO Ankur Jain confirmed that the company had received term sheets for “substantial investments in the form of structured debt and equity,” though declined to specify investor names or valuations.
Founded in 2015, Bira has become one of India’s most recognisable craft beer brands, carving out market share from incumbents such as AB InBev, Carlsberg, and Heineken. The brewer has already attracted notable institutional backers, including Kirin Holdings and Peak XV Partners (formerly Sequoia Capital India).
Proceeds from the upcoming raise are expected to support working capital, debt repayment, and a broader operational restructuring following regulatory hurdles linked to a corporate name change last year.
