Bira 91 Craft Beer
Bira 91 once graced the shelves of city bars and shops with its unique bottles, fun marketing and Instagram-ready images, but its story now sounds like a cautionary tale. Founded by Ankur Jain in 2015, Bira 91 quickly led the craft beer revolution in India and made its mark among the youth.
journey to the top
At its peak Bira 91 was India’s fastest growing beer brand. In fiscal year 2023, the company recorded revenue of Rs 824 crore, and sold 90 lakh cases in 550 cities and 18 countries. Investors also paid attention to this brand. Sequoia Capital India, Sofina and Japan’s Kirin Holdings led the investment, valuing the company at $450 million by 2023.
One word, big results
The troubles started when the company changed its name from B9 Beverages Private Ltd to B9 Beverages Ltd in 2023/24. Liquor in India is governed by state-level regulations, and the name change made Bira a new company in the eyes of each state’s excise department. There was almost a complete halt in new label registration, product approval and sales for 46 months, the sold stock stood at Rs 80 crore. Revenue declined by 22% to Rs 638 crore and net loss reached Rs 748 crore.
staff and financial pressures
More than 250 employees sent complaints to the board and investors. Salary is pending for six months, PF and TDS payment is also pending. The total outstanding is more than Rs 50 crore. Last year the number of more than 700 employees has reduced to 260 now. Investors’ hesitation increased financial pressure. Loan worth Rs 500 crore stopped by BlackRock. Now Bira 91 is trying to raise $132 million, which will be used for working capital and payment of dues.
gradual withdrawal
Sales resumed in major markets like Delhi and Uttar Pradesh by mid-2025. Rights issue of Rs 100 crore improved cash flow and changes were made at the board level.
Lessons from Bira 91
The story of Bira 91 is a warning to fast-growing companies about how fragile success can be amid India’s complex regulations and administrative hurdles. Now Bira will have to balance operational improvements, employee confidence and investor confidence, while rival brands Simba, White Owl and BeeYoung have strengthened their grip.