B9 Beverages Ltd, the parent company of Bira91, has reportedly delayed interest payments to some investors who invested through the supply chain financing platform KredX. According to an ET report, a retail investor claimed they haven’t received interest payouts for March and April on investments linked to the company.
B9 Beverages had raised working capital through KredX by leveraging unpaid invoices as collateral. Despite the reported delays, founder Ankur Jain stated that the company has worked with KredX for over six years and continues to meet its obligations. He added that any delays are mutually agreed upon with KredX under the terms of their agreements, and the company is not in default.
KredX recently became a Reserve Bank of India (RBI)-regulated TReDS (Trade Receivables Discounting System) platform, which helps MSMEs access liquidity by discounting invoices electronically.
Sources told ET that B9 Beverages is currently facing liquidity issues but is in discussions to raise INR 800 Cr. Of this, INR 500 Cr will be raised through structured debt by Day1 Advisors to acquire stakes from current B9 investors.
Founded in 2015, B9 Beverages is backed by Peak XV, Sofina, and DS Group, and reported INR 846.6 Cr revenue in FY23 with a net loss of INR 391.5 Cr. The company plans to go public in 2026 and had earlier raised $25 Mn via ECB from Kirin Holdings.
