Kirin-backed Indian brewer B9 Beverages seeks more clout with new factory

An Indian craft brewer backed by Japan’s Kirin Holdings Co. wants to overtake entrenched global brands by building a $70 million beer factory and raising fresh funds ahead of a public listing in 2026. B9 Beverages Ltd is building a new brewing facility in the north Indian state of Uttar Pradesh, which, once completed, will become India’s biggest beer factory and expand production, founder and Chief Executive Officer Ankur Jain said in an interview. The company currently leases six brewing units and sells an equivalent of 8 million cases of beer a year. The New Delhi-based company has also appointed investment bank Morgan Stanley to lead another round of fundraising ahead of the IPO. “2023 was a very tough year for us because we underwent a very drastic transformation in our sales operations, supply chain, financial checks and balances,” Jain said. “It was a deliberate decision that caused a slowdown, but we are a much stronger company today.”