MAM
Bira 91 raises new capital to fuel growth
MUMBAI: Bira 91 has just concluded an equity investment in the company led by its existing investors – Sequoia India and Sofina.
The $30m equity will be utilised by the company to grow its business in India. Last year, the company commissioned two new breweries, one each in Andhra Pradesh and Karnataka and quadrupled its production capacity. With the launch of Boom in several markets, the company doubled its national market share in FY 2020 to a little less than three per cent of the overall beer market. The company also expanded its presence to more than 400 cities in FY 20, up from 50 in FY 19.
Speaking on the occasion CEO Ankur Jain said, “We continue to grow our business in both existing and new markets. Our market shares in several markets are now higher than 5 per cent of overall beer, and more than 20 per cent share of premium beer. Along with Boom, our other new launches of Bira 91 IPA with Pomelo and the Malabar Stout have been well received. 2020 is a key inflexion point for the company where we expect to reach double-digit market shares in a number of states throughout the year.”
Led by existing investors Sequoia India and Sofina, the new round also saw participation from Sixth Sense – a leading consumer fund, Neoplux – a Korean private equity fund and several high reputation family offices. The new capital will be utilized to expand India business, expand its India footprint and consolidate its leadership position in the premium beer market in India.
Brands
Nykaa eyes majority stake in Deepika Padukone’s 82°E brand
Deal could help scale premium label as Nykaa sharpens its beauty play
MUMBAI: Nykaa is in advanced discussions to acquire a majority stake in 82°E, the premium skincare label founded by Deepika Padukone, according to media reports.
The proposed deal signals Nykaa’s intent to deepen its House of Nykaa portfolio while giving 82°E the scale it has struggled to achieve independently. Padukone is expected to retain a minority stake if the transaction goes through.
For Nykaa, the play is both strategic and timely. With a customer base of over 42 million, the company is betting on its strong distribution, logistics, and repeat purchase ecosystem to revive the brand’s momentum. The two sides already share a working relationship, with Padukone serving as Nykaa’s global brand ambassador since September 2025.
Launched in late 2022, 82°E entered the market with a premium positioning but has faced headwinds. The brand reported revenue of Rs 14.7 crore in FY25, down 30 per cent year on year, alongside losses of Rs 12.26 crore. Industry observers have pointed to steep pricing, a somewhat diffused brand identity, and intense competition from digital-first labels as key challenges.
The potential acquisition also reflects a broader shift in India’s beauty and lifestyle space, where celebrity-led brands are increasingly partnering with larger corporates to unlock scale. Alia Bhatt’s Ed-a-Mamma, for instance, sold a majority stake to Reliance Retail, while Katrina Kaif’s Kay Beauty has emerged as a standout success within Nykaa’s portfolio, clocking Rs 132.4 crore in FY25 revenue.
Nykaa itself has been on a strong growth trajectory. Its parent, FSN E-Commerce Ventures, reported a 156 per cent jump in net profit to Rs 68 crore in the December 2025 quarter, with revenue reaching Rs 2,873 crore.
Nykaa has been steadily building its portfolio through acquisitions such as Dot & Key, Earth Rhythm and Nudge Wellness, signalling a clear push to own and scale homegrown brands.
If the 82°E deal materialises, it could mark a fresh chapter for the label, blending celebrity appeal with corporate muscle. For Nykaa, it is another calculated step in staying ahead in an increasingly crowded beauty aisle.
