18 May 2025
American asset manager BlackRock is in advanced talks to deploy ₹500 crore into the promoter group of B9 Beverages (maker of Bira 91) via structured debt, according to people directly involved in the negotiations. The funds will flow into holding companies controlled by promoter Ankur Jain and be used both to acquire stakes from early investors such as Peak XV Partners and Sofina, and to inject fresh capital into B9 Beverages itself.
This financing comes amid significant near-term challenges: B9 reported a net loss of ₹748 crore in FY24 versus revenue of ₹638 crore (down from ₹927 crore in FY23), and volume sales dipped to 6–7 million cases from 9 million cases a year earlier. Management has attributed part of the disruption to a corporate name change that triggered regulatory delays and forced an ₹80 crore inventory write-off
In parallel, B9 Beverages plans a ₹100 crore rights issue launching May 22 and expected to close in June, as part of a broader ₹850 crore fundraise. Of that total, just over ₹500 crore will come from BlackRock’s debt infusion, and the remaining ₹300 crore via a mix of the rights issue and private placements by existing Indian family offices and domestic funds. The combined capital raise is designed to shore up liquidity and support the company’s growth plans amid ongoing supply-chain and market-access headwinds
American asset manager BlackRock is in advanced talks to deploy ₹500 crore into the promoter group of B9 Beverages (maker of Bira 91) via structured debt, according to people directly involved in the negotiations. The funds will flow into holding companies controlled by promoter Ankur Jain and be used both to acquire stakes from early investors such as Peak XV Partners and Sofina, and to inject fresh capital into B9 Beverages itself.
This financing comes amid significant near-term challenges: B9 reported a net loss of ₹748 crore in FY24 versus revenue of ₹638 crore (down from ₹927 crore in FY23), and volume sales dipped to 6–7 million cases from 9 million cases a year earlier. Management has attributed part of the disruption to a corporate name change that triggered regulatory delays and forced an ₹80 crore inventory write-off
In parallel, B9 Beverages plans a ₹100 crore rights issue launching May 22 and expected to close in June, as part of a broader ₹850 crore fundraise. Of that total, just over ₹500 crore will come from BlackRock’s debt infusion, and the remaining ₹300 crore via a mix of the rights issue and private placements by existing Indian family offices and domestic funds. The combined capital raise is designed to shore up liquidity and support the company’s growth plans amid ongoing supply-chain and market-access headwinds
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