In a LinkedIn submit, Jain stated, “A variety of you could have learn latest media protection on the progress we have now made on capital increase within the latest days – and whereas there are nonetheless many bridges to cross, we’re assured that we can convey these efforts to a optimistic conclusion, topic to co-operation of our buyers,” the submit learn.
Jain reassured workers within the submit that workers could be prioritised within the fundraise and emphasised a dedication to payroll timeliness, noting that since Bira 91’s inception in 2015 till early 2025, payroll was at all times given significance over different investments.
He additionally dismissed the unfavourable press across the firm as inaccurate and pushed by “convoluted and cynical goals”.
A serious disaster has been brewing at Bira 91’s father or mother firm, B9 Beverages. Staff have expressed deep dissatisfaction with management, with greater than 250 workers petitioning Bira 91’s board, main buyers together with Kirin Holdings and Peak XV Partners, and lenders to take away Jain and alter management.
Of their petition to prime buyers, the Japanese drinks large Kirin Holdings and Peak XV Companions, the workers flagged “company governance failure, lack of transparency, delays in worker dues and salaries”, together with creditor lawsuits and a rising pile of unpaid distributors.
Manufacturing at Bira stopped fully in July, executives conscious of the event informed ET. US asset administration fund BlackRock walked away from a planned Rs 500 crore investment.
“I together with the administration staff are standing agency and are doubling-down on our efforts to revive the corporate to the heights we achieved collectively – together with to lift capital and speed up enterprise operations. We’re right here to remain, and I firmly consider, nobody cares about this staff, model and group greater than this management staff,” he summed up the submit.