Is Bira 91 Listed? Unlisted Share Price, Market Cap & How to Buy

The Macro Setup

India’s beer market is poised to hit ₹66,200 cr by 2026, driven by rising disposable income and a shift toward premium craft labels. Inflationary pressure on barley and packaging has forced brewers to tighten margins, but brands with strong distribution—like Bira 91—are better positioned to pass costs onto affluent consumers. The broader FMCG sector is seeing a surge in secondary‑market activity for pre‑IPO equities, as HNIs hunt yield‑plus growth in a low‑interest‑rate environment. Liquidity discounts on unlisted shares have narrowed to the high‑single digits, reflecting deeper investor appetite for brands with clear growth trajectories.

Why This Company / Topic Matters Now

Bira 91, founded in 2015, has become the poster child of India’s craft‑beer renaissance. Its aggressive expansion—two breweries, nine city offices, and a foothold in the U.S. market—has translated into ₹850 cr of revenue in FY23 and a 4.5× market‑cap‑to‑sales multiple. The brand’s ICC sponsorship and premium‑segment focus give it a defensible moat in a market still dominated by multinationals. With a planned IPO on the horizon, the unlisted share price offers a rare glimpse into valuation expectations before the public float.

Valuation & Market Mechanics

ShareSaathi lists Bira 91’s unlisted equity at an ask price of ₹76 per share, implying a pre‑money valuation of ₹427 cr. The platform reports a lot size of 100 shares, making the minimum transaction ₹7,600 plus brokerage. Approximately 5.6 million equity shares are outstanding after conversion of convertible instruments, yielding a market‑cap of ₹427 cr (₹76 × 5.6 M). The table below summarises the key metrics:

The EV/EBITDA multiple of ~12× sits above the Indian FMCG average (≈9×), reflecting Bira’s growth premium. A secondary‑market premium of roughly 5 % over the latest financing round is embedded in the ask price, while the liquidity discount remains limited to high‑single digits, signaling robust secondary demand.

Investors can acquire shares through ShareSaathi’s marketplace by registering, completing KYC, and placing a limit order that matches the ask price. The platform settles trades on a T+2 basis, and shares are held in dematerialised form, ready for transfer at IPO. Because the shares are still pre‑IPO, a pre‑money valuation adjustment will occur at the time of the public offering, potentially creating a price‑uplift for early buyers.

Risk Factors

• Regulatory risk: The Indian alcohol sector is subject to state‑level licence caps and excise duty hikes, which could compress margins.
• Cost volatility: Barley prices have risen >65 % YoY; any pass‑through failure would erode profitability.
• Execution risk: Scaling from two to five breweries requires capital and supply‑chain coordination; delays could stall growth.
• Valuation compression: If the IPO market softens, the pre‑IPO premium could evaporate, delivering a liquidity discount on secondary trades.
• Competitive pressure: New entrants like White Owl and Simba are targeting the same premium segment, intensifying marketing spend.

The Investment Thesis

Bira 91 offers a high‑growth, brand‑centric play in a segment with limited domestic competition. The current ask price embeds a modest secondary‑market premium, while the EV/EBITDA multiple is justified by a 5‑year CAGR >30 % in revenue. The company’s operating EBITDA turned positive in FY23, and the upcoming capacity expansion to 1 M hl will lift unit economics. For investors comfortable with the pre‑money valuation risk, early exposure via ShareSaathi could capture upside when the IPO pricing locks in a higher multiple.

Bottom Line

Bira 91 is unlisted, but its shares trade on ShareSaathi at ₹76 per share, implying a ₹427 cr market cap. The lot size of 100 shares makes entry affordable for HNIs seeking exposure to India’s fastest‑growing craft‑beer brand. While regulatory and cost headwinds remain, the brand’s premium positioning and imminent IPO provide a compelling risk‑adjusted return profile.

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FAQ

• What is the current Bira share price? The live unlisted price on ShareSaathi is ₹76 per share (as of 1 Oct 2026).

• What is Bira’s market cap? With ~5.6 M shares outstanding, the implied market cap is ₹427 cr.

• How can I buy Bira shares? Register on ShareSaathi, complete KYC, and place a limit order for the minimum lot of 100 shares at ₹76.

• Is Bira 91 listed? No. Bira 91 remains a private, unlisted company; shares are only available on secondary platforms like ShareSaathi until the IPO.