18 June 2024
B9 Beverages, the company that runs beer company Bira 91 and restaurant chain The Beer Cafe, has secured $25 million via external commercial borrowing (ECB) from Kirin Holdings, an existing investor. The total amount from this fundraise will be broken in two tranches, of $12.5 million each, over a period of time, regulatory filings showed.
With fresh funds in its kitty, Bira91 has now closed its larger round that was kicked off earlier this year. In total, the company has raised $50 million ($25 million in June from Kirin Holdings and $25 million in March from Tiger Pacific Capital) in the past three months.
Private Equity company, Tiger Pacific, had acquired around four percent in the firm in exchange for $25 million, which effectively values the company at around $625 million.
Kirin Holdings also has the option to convert its ECBs into Series D Compulsorily Convertible Preference Shares (CCPS) at a later date, regulatory filings, sources via TheKredible, showed.
B9 Beverages, the company that runs beer company Bira 91 and restaurant chain The Beer Cafe, has secured $25 million via external commercial borrowing (ECB) from Kirin Holdings, an existing investor. The total amount from this fundraise will be broken in two tranches, of $12.5 million each, over a period of time, regulatory filings showed.
With fresh funds in its kitty, Bira91 has now closed its larger round that was kicked off earlier this year. In total, the company has raised $50 million ($25 million in June from Kirin Holdings and $25 million in March from Tiger Pacific Capital) in the past three months.
Private Equity company, Tiger Pacific, had acquired around four percent in the firm in exchange for $25 million, which effectively values the company at around $625 million.
Kirin Holdings also has the option to convert its ECBs into Series D Compulsorily Convertible Preference Shares (CCPS) at a later date, regulatory filings, sources via TheKredible, showed.
Stay Connected, Stay Informed –
Don’t miss out on exclusive updates, market trends, and real-time investment opportunities. Be the first to know about the latest unlisted stocks, IPO announcements, and curated Fact Sheets, delivered straight to your WhatsApp.