Bira 91, India's popular craft beer brand, faced an unexpected crisis after changing its name from B9 Beverages Private Ltd to B9 Beverages Ltd ahead of its planned 2026 IPO. The seemingly minor change turned disastrous as compliance hurdles forced the company to halt sales for months, leading to an ₹80 crore inventory write-off.

Founder Ankur Jain revealed that re-registering product labels across multiple states caused a four-to-six-month sales freeze. The company's revenue dropped by 22%, while losses widened by 68% in FY 2023-24, reaching ₹748 crore—exceeding its total sales of ₹638 crore.

The Indian beer market is rapidly evolving, with microbreweries and global brands intensifying competition. Industry experts warn that scaling too quickly could dilute Bira 91's niche appeal.

Despite the setback, Bira 91 remains optimistic, betting on its unique flavors and strong brand identity. However, this costly lesson underscores the risks of rapid expansion and regulatory missteps in India's booming alcohol industry. Will Bira 91 bounce back before its IPO, or is this the beginning of a long struggle?