Lord Bilimoria, the founder of Cobra Beer, is trying to raise £4.5m to expand in India five months after the British arm went through a controversial pre-pack administration owing creditors £70m.
Bilimoria has previously kept the British and Indian arms of the company separate. Neither has yet made a profit.
He has hired Grant Thornton, the accountant, to work on a fundraising for the Indian business. He plans to use the fresh finance to complete the purchase of a brewery in India and to develop the brand.
The Sunday Times, Business, p3
