Bira 91, a fast-growing craft beer brand founded by Ankur Jain in 2015, recently lost Rs 80 crore because of a minor name change. Before its planned IPO in 2026, the company changed its name from B9 Beverages Private Ltd to B9 Beverages Ltd. Even though the change seems small, it stopped sales for several months, forcing the company to write off Rs 80 crore in inventory while updating its product label, according to The Economic Times.

Compliance issues led to a 22% drop in sales and a 68% increase in losses for the 2023-24 financial year, according to the report. B9 Beverages posted a net loss of Rs 748 crore, which is higher than its total sales revenue of Rs 638 crore.

B9 Beverages founder Ankur Jain explained, "The name change meant we had to re-register our labels and get approvals in different states for 4-6 months. This resulted in no sales for several months, even though there was strong demand for our products."

Bira 91 planned its IPO to raise money for expansion. India's beer market is becoming more competitive with many microbreweries, craft beer makers, and global brewers. The company said that growing a beer business needs a lot of money for equipment and working capital. Bira 91 is supported by Sequoia Capital India, Belgium's Sofina, and Japan's Kirin Holdings.

About Bira 91

Bira 91 is an Indian craft beer brand launched in 2015 and made from barley, wheat, and hops. It is available in bottles, cans, and on tap. The brand was founded by Ankur Jain, who returned to India in 2007 after running a healthcare startup in New York.

He started Bira 91 as an alternative to imported beers, and it quickly became popular with the urban crowd. Today, Bira 91 offers a range of beers, including Bira White, Gold, Bira Blonde, and Boom Super Strong, and even experiments with non-alcoholic beverages.

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