Bira Maker’s interest payouts delayed amid liquidity woes

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B9 Beverages, the maker of Bira alcoholic beverages, has delayed interest payouts to some of its debt investors through fintech marketplace KredX, according to people aware of the matter. The New Delhi-based company’s revenue slumped and losses shot up in FY24, the last year for which financial details are available.According to regulatory filings, revenue fell 22% to Rs 638 crore from Rs 824 crore a year before. Its net loss widened to Rs 749 crore from Rs 445 crore.

A retail investor who has debt exposure to Bira told ET that he’s not received…



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Bira Maker’s interest payouts delayed amid liquidity woes


B9 Beverages, the maker of Bira alcoholic beverages, has delayed interest payouts to some of its debt investors through fintech marketplace KredX, according to people aware of the matter. The New Delhi-based company’s revenue slumped and losses shot up in FY24, the last year for which financial details are available.According to regulatory filings, revenue fell 22% to Rs 638 crore from Rs 824 crore a year before. Its net loss widened to Rs 749 crore from Rs 445 crore.

A retail investor who has debt exposure to Bira told ET that he’s not received…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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