Craft beer maker Bira 91 now became a legal entity as it prepares for its IPO

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Craft beer maker Bira 91 now became a legal entity as it prepares for its initial public offering (IPO). According to regulatory filings, the startup has become a public company and renamed itself B9 Beverages Limited.

The conversion to a public company is an important step in the company’s plans to list on Indian stock exchanges. Following that, the startup will submit its draught red herring prospectus (DRHP) to market regulator Securities Exchange Board of India (SEBI). Bira’s ESOP pool has been expanded by 1,566,390 options, according to the startup’s board of directors. The decision to go public comes just weeks after the startup raised up to $70 million from Japanese beverage conglomerate Kirin Holdings. So far, the company has received $280 million in funding from a variety of investors, including Sequoia and Sixth Sense Partners.

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Craft beer maker Bira 91 now became a legal entity as it prepares for its IPO

Craft beer maker Bira 91 now became a legal entity as it prepares for its initial public offering (IPO). According to regulatory filings, the startup has become a public company and renamed itself B9 Beverages Limited.

The conversion to a public company is an important step in the company’s plans to list on Indian stock exchanges. Following that, the startup will submit its draught red herring prospectus (DRHP) to market regulator Securities Exchange Board of India (SEBI). Bira’s ESOP pool has been expanded by 1,566,390 options, according to the startup’s board of directors. The decision to go public comes just weeks after the startup raised up to $70 million from Japanese beverage conglomerate Kirin Holdings. So far, the company has received $280 million in funding from a variety of investors, including Sequoia and Sixth Sense Partners.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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