Indian beer brand Bira 91 bags $10 million investment from Japan's largest bank MUFG

Craft beers such as Bira 91 and White Rhino are gaining popularity in urban India's pubs, but they only control a 3 per cent share of the beer market so far. As the sector is set for growth, Bira 91 is set to reach more connoiseurs by acquiring and rebranding the Beer Cafe chain. After an infusion from Japan's beermaker Kirin, Bira 91 has bagged a $10 million investment from the country's biggest bank.

Brewing success under pandemic pressure

The Mitsubishi UFJ Financial Group bank, has decided to invest in the Indian craft beer brand, after Bira 91 reduced its losses by 30 per cent. For the October-December quarter, Bira reported only a marginal revenue drop of around Rs 3 crore despite a slowdown during the pandemic. India's fourth largest beer brand, Bira will use the funds from MUFG to strengthen its manufacturing capacity beyond the five production units it operates.

Changing consumer attitudes

Driven by brand consciousness among Indian consumers and changing lifestyle, Bira 91 has also captured 5 per cent market share in major markets of the country. Thanks to its premium offerings, Bira has also gone beyond Indian markets, and established a presence in 18 countries. It has also diversified its product portfolio, and introduced a hard seltzer to the lineup last month.