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E Commerce

More Trouble For Bira 91 As Lenders Take Control Of The Beer Cafe


SUMMARY

B9 Beverages had pledged the shares of BTB as collateral for loans and failed to pay the debt. Following this, the lenders took control of The Beer Cafe, which owns 42 pubs across the country

The startup raised $100 Mn in two separate rounds led by Kirin Holdings in 2022. Additionally, it raised a debt of INR 208 Cr from Kirin Holdings in 2024 and another INR 400 Cr from various banks and NBFCs

The founder said that Bira 91 has also challenged Anicut Capital’s move in the Delhi High Court

In more trouble for…



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From a brand known for its cool urban image and setting the Indian craft brewery benchmark, Bira 91’s survival hangs by a thread.  The startup, which has raised more than $200 Mn in funding to date from investors such as Peak XV Partners, Sofina, and Kirin Holdings, among others, is struggling to move past the slowdown that hit its business last year.   At the centre of the storm are 600 employees, the investors, and Ankur Jain, the CEO and founder of B9 Beverages Ltd, Bira 91’s parent company.  Jain is under pressure to step down… Source link