The maker of India’s famous Bira 91 beer, has been hit hard by a simple name change from B9 Beverages Private Ltd to B9 Beverages Ltd. The decision to change its corporate name necessitated re-registering product labels across several states, causing a 22% drop in sales—from 9 million cases in FY23 (approx. 178,200 hl) to only 6–7 million cases in FY24 (approx. 118,800–138,600 hl) —and a one-time inventory write-off of INR80 crore (USD 9.8 million). Key markets such as Delhi NCR and Andhra Pradesh experienced a 4–6 month period of operational disruption.
"Due to the name change, there was a 4-6 month cycle where we had to re-register labels and re-apply across states, which resulted in literally no sales for several months despite demand for our products,“ CEO Ankur Jain admitted. However he has confirmed that the company remains on track for its initial public offering (IPO) in 2026, contingent upon overcoming current hurdles. With pre-IPO advisement from Morgan Stanley and a funding boost of USD25 million secured from Kirin Holdings, B9 Beverages is determined to restore market confidence despite the financial strain.
Further compounding the crisis, regulatory agencies are intensifying scrutiny over outstanding tax liabilities. The Maharashtra Value Added Tax department has ordered distributors to redirect pending payments directly to tax authorities to settle dues amounting to INR26.38 crore (USD 3.22 million) in Maharashtra alone. Similar obligations in Madhya Pradesh (INR 7 crore, USD 0.85 million), Delhi (INR 4.8 crore, USD 0.59 million), and Himachal Pradesh (INR 4.7 lakh, USD 5.7 thousand) have added to the pressure, while significant delays in vendor payments and employee salaries continue to mount.
