India, Feb. 18 -- Ahead of a planned 2026 Initial Public Offering (IPO), the company which produces Bira 91 beer changed its name to B9 Beverages Ltd from B9 Beverages Private Ltd. This name change turned out to be very costly for the firm as it was forced to write off Rs.80 crore in inventory and halt sales for a few months, according to an Economic Times report.

This was due to compliance issues till it registered a new product label. As a result, its sales fell by 22% and its losses widened by 68% in the financial year 2023-24, the report read.

The IPO plan came at a time due to surging competition from microbreweries, craft beer makers, and global brewers launching premium brands in India's growing market.

The company, which had sa...