What is B9 Beverages Limited?

B9 Beverages Limited is the parent company behind the Bira 91 craft beer brand. Founded by Ankur Jain in 2015, the company initially imported beer brewed in Belgium before establishing its own breweries in India. It is headquartered in New Delhi.

Who founded B9 Beverages / Bira 91?

Bira 91 was founded by Ankur Jain, an IIT Delhi and Illinois Institute of Technology alumnus who previously worked in the US before returning to India to launch the brand. The name 'Bira' derives from the Hindi word for beer, and '91' is the international dialing code for India.

What beers does Bira 91 produce?

Bira 91's portfolio includes White (wheat beer), Blonde (lager), Strong, IPA, Light, and various limited-edition and flavoured variants. The brand targets the premium and craft beer segment in India.

Is B9 Beverages listed on any stock exchange?

No, B9 Beverages Limited is a private limited company and is not listed on any Indian stock exchange. Shares are accessible only through the unlisted or pre-IPO market.

Where does Bira 91 manufacture its beer?

Bira 91 operates breweries in India, including facilities in Indore (Madhya Pradesh) and Bangalore (Karnataka). The company originally imported beer brewed in Belgium before building domestic production capacity.

How do I buy Bira 91 unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Bira 91?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Bira 91 shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Bira 91 Unlisted Share Price | Buy Bira 91 Pre-IPO Shares — wisefolio

Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

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Bira 91 Unlisted Share Price | Buy Bira 91 Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

B9 Beverages Limited (Bira 91) is one of India's most exciting consumer brand stories — a homegrown craft beer brand that has successfully challenged established global and domestic beer majors. Founded by Ankur Jain in 2015, Bira 91 has built strong brand equity among urban Indian consumers and expanded to 15+ countries. While profitability remains a challenge given high growth investments, the company's brand strength, investor backing, and the structural tailwind of India's premiumizing beer market make it a compelling unlisted growth story. A potential future IPO could be a significant value-unlocking event.

Pros

Bira 91 is one of India's most recognized craft beer brands, with strong brand equity among urban millennials and Gen Z consumers
Pioneer of the craft beer movement in India, having first sourced Belgian-brewed beer before establishing domestic manufacturing — giving it an aspirational brand story
Operates multiple breweries across India including Indore and Bangalore, enabling nationwide distribution
Diverse portfolio including wheat beers, lagers, IPAs, and flavoured beers covering multiple price segments
Backed by marquee investors including Sequoia Capital India and other venture funds, indicating institutional validation
Strong export presence with Bira 91 sold in over 15 countries globally

Cons

Despite strong brand recognition, the company has reported significant losses as it scales, reflecting high spending on marketing and distribution
Competes in a capital-intensive sector against large incumbents like United Breweries (Kingfisher) and AB InBev (Budweiser)
Excise duty structures and state-level liquor regulations in India create complex and fragmented distribution environments
Private limited company structure limits public financial transparency and secondary market liquidity
Profitability remains elusive as the company continues to invest heavily in brand building and infrastructure

Business Segments

Craft Beer Manufacturing & Distribution (India)

International Exports (15+ countries)

Premium Alcoholic Beverages — Wheat Beers, Lagers, IPAs, Strong Beer

Flavoured and Limited-Edition Beer Variants

Revenue Model

B9 Beverages generates revenue through domestic sales of Bira 91 branded beers across bars, restaurants, retail outlets, and modern trade channels in India. Revenue streams include domestic market sales across multiple states, export sales to overseas markets, and potentially brewery licensing and contract brewing. The company distributes across all major Indian metros and Tier 1 cities, with ongoing expansion to Tier 2 markets.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds12

Growth Plans

India's per-capita beer consumption is among the lowest globally, leaving significant headroom for growth

Rising urbanization and middle-class income growth driving premiumization in alcohol consumption

Potential IPO could unlock significant brand and operational value for investors

International expansion in diaspora-heavy markets like the US, UK, and Singapore

Industry Tailwinds

Recent Developments

Portfolio expansion and premium positioning

Bira 91 continued to deepen its premium positioning in the Indian craft beer market with new variants and increased focus on draught beer installations at bars and restaurants across major cities.

2023

International market presence

Bira 91 expanded exports to over 15 countries globally, with the US and parts of Southeast Asia as key international markets, strengthening the brand's global craft beer identity.

2023

Frequently Asked Questions

About Bira 91

B9 Beverages Limited, the company behind the Bira 91 craft beer brand, is one of India's most recognised and funded consumer beverages startups. Founded in 2015 by Ankur Jain, Bira 91 disrupted India's beer market by introducing globally-inspired craft beer styles — wheat beers, IPAs, lagers — at accessible price points, targeting young urban consumers who had outgrown the standard lager segment. The company has raised over $457 million across 21 funding rounds from investors including Tiger Pacific Capital, Kirin Holdings (Japan's second-largest brewer), and other institutional investors, making it one of India's most heavily funded consumer brands. Revenue for FY2024 was ₹668 crore, down from ₹848.7 crore in FY2023. The company has undergone significant operational restructuring: headcount was cut from 975 to approximately 500, manufacturing capacity reduced by 40%, the company shifted to contract manufacturing for greater flexibility, and operations were concentrated on metro markets. These measures target ₹600 crore in cost savings and 66% gross margins by FY2026. Bira 91 sells across 700+ cities in India and exports to 15+ countries. Key brands include Bira White (wheat beer), Boom Strong, Bira Gold, and several craft variants. The company is planning an IPO in 2026, subject to achieving operating milestones. In June 2025 it raised ₹85 crore via a rights issue at ₹325/share (55% discount to prior round), partially closing by July 2025.

Key Milestones

2015 — B9 Beverages Limited incorporated in New Delhi; Bira 91 brand launched with Belgian-brewed beer imported to India

Common questions about unlisted shares

How do I buy Bira 91 unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?
Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

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