Bira Unlisted Share Price: What Drives It and How Has It Moved?

The price of Bira unlisted shares is not constant and will depend on the level of demand from the private market. This level of demand will have a significant impact on the price of the shares. In the past, we have seen a high degree of price volatility. The highest price we have seen in the past 52 weeks is ₹525, and the lowest price we have seen in the past 52 weeks is ₹180. This significant price drop has been attributed to the challenging performance of the company in FY24. The Bira share price graph shows two distinct phases. Prices continued to rise from 2021 to 2023 as revenues increased and expectations for an IPO began. But in FY24, the company had to restructure and change its name from B9 Beverages Private Limited to B9 Beverages Limited as part of the process of going public with Bira 91. This triggered the need for new state-level licenses, which caused a sales interruption of 4 to 6 months, resulting in an inventory write-off of ₹80 crore and a staggering FY24 loss of ₹748 crore. The major Bira unlisted share price drivers in the unlisted share market are the recovery of sales post restructuring, new updates on the B9 Beverages IPO, and overall sentiment in the market for consumer brand unlisted shares. For example, OYO Unlisted Share Price and Zepto Unlisted Shares are similar consumer brands and have similar risk profiles.

The Bira 91 IPO is highly anticipated in India. Ankur Jain, the CEO of B9 Beverages Limited, stated that the company aims to position itself for an IPO by 2026. The company made the first move when it became a public limited company in December 2022 and is currently being guided by the investment bank Morgan Stanley for its pre-IPO processes. As of October 2023, it has been reported that B9 Beverages has acquired 85 crore rupees through a mid-2025 rights issue at 325 rupees per share and has received 25 million dollars from Kirin Holdings of Japan via external commercial borrowing. Additionally, the company has reduced its employee count from 975 to approximately 500, has contract manufacturing, and is estimating a 600 crore rupee. All these indicate cost rationalization before a public listing.

The B9 Beverages latest news, Bira 91 IPO, includes the following key signals to watch for:

• Filing the DRHP with SEBI.
• Confirmation of EBITDA breakeven.
• New rounds of institutional funding.
• Evidence of revenue recovery from the FY25 figures.

Numerous investors look for the B9 Beverages share price on NSE or search for the Bira beer stock name on NSE, thinking it is listed. For clarification, B9 Beverages (Bira 91) is not listed on the NSE and BSE. Therefore, the B9 Beverages share price on the NSE does not exist. The Bira beer stock name on the stock exchanges will only be announced once the Bira 91 IPO is completed. For the time being, all activities take place in the private secondary market. If, for example, you are interested in the unlisted share trading of exchange infrastructure companies, you may find the unlisted shares of NSE Unlisted Share and MSEI Unlisted Share in the financial sector unlisted investments.

Business Divisions

Bira 91 operates in multiple segments, including:

• Premium Beers – Aiming at urban millennials with unique flavors.
• Mass Market Beers – Targeting tier-2, tier-3, and tier-4 cities to expand market reach.
• International Expansion – Available in key global markets such as the U.S. and Southeast Asia.
• Sponsorship & Branding – Strategic partnerships, including a $5-6 million per year ICC sponsorship deal.

Financial Highlights

Bira 91’s financial performance provides key insights into its growth trajectory and challenges:

• Revenue Growth – The company’s revenue has grown from ₹428.2 crore in 2021 to ₹824.32 crore in 2023, indicating strong demand.
• Expanding Losses – Despite revenue growth, losses widened, with PAT falling from -₹211.28 crore in 2021 to -₹445.47 crore in 2023.
• Declining Margins – Gross margins dropped from 79.64% in 2021 to 67.81% in 2023, highlighting cost pressures.
• Debt & Liabilities – Borrowings stood at ₹314.6 crore in 2023, with total liabilities increasing to ₹1274.27 crore.
• BIRA Unlisted Share Price Movement – The latest unlisted share price is ₹650 per share, translating to a market valuation of ₹3900 crore.

Bira Share Price Target: Long-Term Investment Outlook

Considering the Bira share price, India thesis as a long-term investment entails making a turnaround bet with an extremely high level of risk and reward. The bullish argument starts with Bira being in the right place at the right time with the size of the Indian beer market, expected to grow at a rate of >9% p.a. Further, the company recently raised over $252 million from prominent Tier 1 investors (Sequoia Capital, Kirin Holdings, and Tiger Pacific Capital), and it also has a premium position in the rapidly growing craft beer segment. Finally, Bira 91 is expected to go public in 2026 (Bira is a likely candidate for listing in the near future), and this is expected to result in a major, positive revision to the price of the Bira shares currently issued.

The bear case is also very plausible losses from the company in FY24 were greater than revenue for the year, the company is still losing money, and the IPO is dependent on the company achieving operating milestones that have yet to be achieved, and this is the case for most prior milestones that have been achieved and to which the milestones have been delayed prior to. Most of the Bira shares that have been issued to investors in the past have been illiquid and for a long time in the case of Bira, this offering also illustrates that this is also the case for a long time to be available to a relatively large number of conservative investors. This offering also illustrates that this is not a conservative investment; it is more of a story for those investors with a high risk tolerance and a long investment horizon who unreservedly believe in the potential of the India consumer premium brand story.