Tiger Pacific Capital, a private equity fund, has purchased nearly 4% of B9 Beverages, the manufacturer of Bira 91 beer and the proprietor of The Beer Cafe pub chain, for $25 million (around INR 207 crore). According to company executives familiar with the matter, this acquisition serves as a preliminary step toward the company’s intended stock market listing.
“The combination of strategic partners and blue chip financial sponsors spread across Japan, New York and India make our cap table unique,” said Ankur Jain, chief executive of B9 Beverages.
“It enables the company to leverage strengths, capital pools and business opportunities in all relevant geographies.” He declined to comment on IPO plans. “This is the first investor on B9 Beverages’ cap table from a crossover fund,” said an executive aware of the development. “The investment is focused on strengthening B9’s capital base and tapping into new investor bases focused on pre-IPO companies and listed securities.” This aligns with reports from December last year regarding B9 Beverages’ intention to secure $50 million in funding.
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