Ankur Jain, the founder of B9 Beverages, the company behind the Bira 91 craft beer brand, has stepped down from the company’s board and agreed to relinquish all executive powers as part of a comprehensive settlement with institutional shareholders and lenders. Under the agreement, Jain and his family will surrender their 17.8% ownership stake, marking the end of a nearly two-year governance dispute that has weighed on the financially stressed brewer.
The settlement paves the way for a recapitalisation of B9 Beverages by existing investors, with the aim of reviving operations after months of financial distress. The company, once one of India’s fastest-growing craft beer brands, has been grappling with mounting debt, halted production, delayed salary payments, and operational disruptions that derailed its growth ambitions.
Founder Exits as Part of Settlement
As part of the agreement:
- Ankur Jain has resigned from B9 Beverages’ board.
- He will relinquish all executive authority.
- Jain and his family will surrender their 17.8% equity stake.
- Both sides will withdraw legal proceedings against each other.
- Jain will be released from certain personal liabilities linked to company borrowings, including guarantees he had provided for some loans.
Settlement Snapshot
| Item | Details |
|---|---|
| Company | B9 Beverages (Bira 91) |
| Founder | Ankur Jain |
| Board status | Resigned |
| Stake to be surrendered | 17.8% (promoter family) |
| Executive role | Relinquished |
| Outcome | Settlement with investors and lenders |
A Leadership Reset to Revive Bira 91
The leadership change is expected to clear the way for a fresh capital infusion from existing investors, who have long sought professional management as a condition for supporting the company’s turnaround.
According to reports, B9 Beverages plans to:
- Complete a recapitalisation exercise.
- Clear statutory liabilities.
- Pay employee dues.
- Settle vendor payments.
- Resume production within the next three to six months.
The restructuring is intended to stabilise operations and restore confidence among lenders, suppliers, employees, and distributors.
Financial Troubles Behind the Restructuring
B9 Beverages has faced severe financial challenges over the past two years.
Among the key issues:
- Debt has reportedly climbed to nearly ₹1,000 crore.
- Beer production has been suspended.
- Employees experienced salary delays.
- Vendor payments remained outstanding.
- Liquidity constraints disrupted operations across several markets.
The company also suffered from operational disruptions following its legal name change in preparation for a planned IPO. The transition required fresh excise licence approvals across multiple states, delaying sales and affecting cash flows. Combined with aggressive expansion, marketing expenditure, and brewery investments, the disruptions significantly worsened the company’s financial position.
Key Financial Challenges
| Challenge | Impact |
|---|---|
| High debt | Nearly ₹1,000 crore liabilities |
| Production halt | Operations temporarily suspended |
| Employee dues | Salary and statutory payment delays |
| Vendor payments | Outstanding obligations |
| IPO-related disruptions | Licensing delays affected sales |
Investors Prepare the Next Phase
B9 Beverages counts several prominent investors among its shareholders, including:
- Peak XV Partners.
- Kirin Holdings.
- Other institutional investors.
Its lenders include Anicut Capital and the family office of Hero Corporate Services. With the settlement complete, investors are expected to focus on recapitalising the company and appointing professional leadership to guide the next phase of operations.
The leadership transition represents one of the most significant governance changes in India’s startup and consumer brand ecosystem this year.
What the Founder Said
Following the agreement, Ankur Jain expressed gratitude to employees, investors, and business partners who helped build the Bira 91 brand over the past decade. He acknowledged the difficult period the company had faced and said he would continue supporting the brand from outside the organisation as it entered its next phase of growth.
Looking Ahead
The settlement marks a turning point for B9 Beverages and the Bira 91 brand. With founder Ankur Jain stepping away from the board and the promoter family surrendering its 17.8% stake, the company is set for a governance reset designed to unlock fresh funding and restore operations. The move ends a prolonged dispute with investors and lenders while providing a pathway toward financial restructuring and professional management.
Whether the restructuring succeeds will depend on the company’s ability to secure new capital, restart production, and rebuild relationships with employees, suppliers, and distributors. If the planned recapitalisation proceeds as expected, B9 Beverages could begin a new chapter focused on stabilising its finances and reviving the growth of the Bira 91 brand in India’s competitive beer market.
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