Bira beer, established in the summer of 2015 by B9 Beverages and headquartered in New Delhi, is looking to raise funds for its working capital requirement. It is looking for a strategic foreign partner for providing assistance. It is heard in the street that Bira is in talks with Japan-based Kirin Holdings, which has limited sales in India and can give Kirin Holdings a sizeable presence in the Indian market. Kirin Holdings is the biggest beer maker in Japan. Bira currently holds 5-6% of the beer market in India. The beer market is dominated by United Brewery (Kingfisher), and AB Inbev( Budweiser) which together holds more than 70%. UnlistedZone View The Covid-19 has made the situation really bad for Bira as the majority of its sales were coming from the restaurant and pubs only. And all the restaurants and pubs are closed as on date. If we see the impact of Covid-19 on the sectors, then Hotel, Restaurant, Aviation, etc are the biggest loser. And the situation does not seem to be looking good in the near term as fear of Covid-19 is still hanging in the mind of consumers. So Bira needs external money to run its operations. The interesting part would be to see at what valuation the deal will happen. In 2019, Bira has raised 30 Cr from Sixth Sense Ventures, at a reported valuation of 1722 Cr. Valuing per share at ~580. At that time, it was growing fast and now struggling. Selling stakes in the bad times is not advisable, but then Bira has no choice. It really needs funds to run its operations and stay alive in the market.