B9 Beverages, the parent company of popular craft beer brand Bira 91, is preparing to sell one of its assets to raise urgent funds and address severe financial distress. The move comes amid a prolonged cash crunch that has left hundreds of employees without pay and operations at a standstill.
The company has reportedly been struggling with liquidity issues for months, leading to unpaid salaries for over 250 employees since mid-2024. Production has been suspended since July, with the brewer now seeking immediate cash to clear dues, including pending provident-fund contributions and overdue tax deductions.
In a recent communication to employees, Ankur Jain, founder and CEO, informed staff that a buyer has been identified for one of the company’s assets. The proposal has been submitted to lenders and shareholders for approval. While Jain did not specify which asset is being sold, he indicated that discussions are underway with major investors such as Kirin Holdings, Anicut Capital, and Peak XV Partners to secure their consent for the deal.
The funds raised are expected to be used to clear pending salaries, reimbursements, and PF dues, starting with payments to the lower half of the workforce, including former employees. The company also plans to use the proceeds to restart operations in key markets and stabilise cash flow.
While the asset sale could offer short-term relief, analysts believe the company will need deeper structural reforms and renewed investor confidence to regain its footing in India’s competitive beer market.
