October 29, 2025

In a bold and powerful move, Kirin Holdings, the big boss investor in Bira 91, along with its financial partner Anicut Capital, has taken control of The Beer Cafe, a fully-owned subsidiary of B9 Beverages (the parent company of Bira 91). This takeover happened amid tough times for Bira 91, which is battling falling sales and serious money problems. Kirin and Anicut grabbed the shares in The Beer Cafe that B9 Beverages had pledged as loan security. This means Kirin and Anicut now jointly own The Beer Cafe, which runs 42 pubs and other food and beverage ventures. This move secures The Beer Cafe from B9 Beverages’ cash crunch and possible bankruptcy. An executive close to the deal explained, "The possession of pledged shares was taken by the lenders and Kirin to ring-fence BTB and its employees, and they have reaffirmed their faith in the current management of BTB." Rahul Singh, founder and CEO of The Beer Cafe and BTB, confirmed the change. He said, "With a clear focus on innovation, quality, and responsible growth, we're entering this next phase with renewed energy and commitment." But the story has some courtroom drama! Ankur Jain, founder of B9 Beverages, said the company had challenged the lenders’ move, calling it "contravention with contracts and illegal." The dispute reached Delhi High Court, which on October 17 placed a temporary ban on Anicut from selling or creating third-party interests on BTB shares. Anicut Capital and Kirin Holdings chose not to comment. The financial numbers reveal the crisis: In FY24, B9 Beverages showed a negative cash flow of ₹84 crore, losses piling up to ₹1,904 crore, and liabilities greater than assets by ₹619.6 crore. The company’s revenue was ₹638 crore, but it suffered a net loss of ₹748 crore. Sales plunged from 9 million to 6-7 million cases. Ownership shows Kirin holds 20.1%, Peak XV 14.6%, and Ankur Jain and his family 17.8%, with others sharing the rest. BTB group runs five types of businesses: The Beer Cafe pubs, Bira 91 Taproom pubs, cloud bar Thrsty, cloud kitchen Instacrave, and burger chain Burger Brewery. With Kirin and Anicut stepping in, The Beer Cafe aims to keep its buzz alive despite the storm brewing around Bira 91!

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Tags: Bira 91, Kirin holdings, The beer cafe, Anicut capital, B9 beverages, Financial crisis,