Kirin Holdings, Anicut Capital take over Bira’s Beer Café; B9 disputes move in Delhi High Court

Kirin Holdings, a Japanese strategic investor in B9, and Indian alternative investment firm Anicut Capital have taken control of Beer Café, the retail arm of craft beer maker Bira 91, according to filings with the Registrar of Companies (ROC).

Beer Café is operated under Better Than Before (BTB), a wholly owned subsidiary of B9 Beverages Pvt. Ltd., the parent company of Bira 91. According to sources, Beer Café’s turnover is close to ₹100 crore and has been one of the few profitable and growing verticals within the company.

However, the transaction has sparked a dispute between B9 Beverages and its lenders.

Responding to CNBC-TV18, Ankur Jain, Founder and CEO of Bira 91, said BTB “continues to be a wholly owned subsidiary of B9,” and that some lenders have taken “actions that are in contravention with contracts and illegal.”

Jain said B9 has challenged the actions of Anicut Capital in the Delhi High Court, which on October 17, 2025, passed an interim order restricting Anicut from any sale or creation of third-party interests on BTB shares.

“Given that the matter is sub-judice, it may not be appropriate for me to comment in more detail on the matter,” Jain told CNBC-TV18.

(This is a developing story and will be updated)