Raise grand drink (5)
I believe the answer is:
lager
'drink' is the definition.
(lager is a kind of drink)
'raise grand' is the wordplay.
'raise' says the letters should be written in reverse.
'grand' becomes 'regal' (grand can mean regal or splendid).
'regal' backwards is 'LAGER'.
(Other definitions for lager that I've seen before include "Bottom-fermented beer" , "Effervescent beer" , "Regal kind of beer" , "Light beer needed" , "Continental beer" .)