New Delhi/Mumbai, June 27 -- B9 Beverages has already raised Rs.85 crore by selling fresh shares to existing investors at a massive discount, as the maker of Bira beer shrinks its workforce and restructures its operations to focus on fewer markets to cut costs, people close to the development said.

The company, founded by Ankur Jain in 2015, is raising a total Rs.100 crore in a rights issue for working capital requirements, and the remainder Rs.15 crore is expected to be raised by the middle of July, the people cited earlier said on the condition of anonymity.

These shares are being sold at Rs.325 apiece, a substantial discount of 55% from a previous round when Japanese beer maker Kirin came in at over Rs.700 per share. B9 currently has...