This article examines the decline of Bira 91 rapid from a leading beer brand, attributing it to multiple governance decisions and a seemingly straightforward corporate name change that inadvertently triggered complex compliance challenges under India's state excise regulations. Ltd., the company behind Bira 91, changed its name to "B9 Beverages Ltd." Under Indian state excise laws, the new name was treated as a new legal entity, requiring fresh excise licences, label approvals and product registrations for each beer variant in each state where the product was sold. OUR THOUGHTSThe case of Bira 91 highlights the critical need for a thorough legal and regulatory due diligence in India's IPO-driven landscape. Seemingly routine corporate actions like name changes of a company can trigger complex, sector-specific compliance obligations that extend beyond the Companies Act. Bira 91's experience serves as a cautionary tale that even a procedural change, if mishandled, can have disproportionate and potentially irreversible consequences on a company's commercial trajectory.

Source: Economic Times February 09, 2026 15:15 UTC