Bira 91 founder Ankur Jain and his family have stepped down from the board and executive roles at B9 Beverages following a settlement with lenders and investors
Ankur Jain, founder of Bira 91 parent B9 Beverages, and his family have stepped down from the company’s board and executive positions with immediate effect after reaching a comprehensive settlement with lenders and institutional investors, bringing an end to a prolonged financial and governance dispute.
The leadership exit is part of a broader restructuring aimed at enabling the craft beer maker to secure fresh capital, clean up its balance sheet and appoint a new management team to steer the business through its next phase of growth.
Settlement Clears Path for Restructuring
In a letter to employees and stakeholders, Jain said the agreement followed months of negotiations involving nearly 30 stakeholders with competing interests.
Under the settlement, the promoter family will relinquish its board and executive roles, while all litigation and claims between the parties will be withdrawn. The agreement also releases Jain from personal guarantees extended for corporate borrowings, marking what he described as a “clean and full close” of the chapter.
Industry reports indicate that the promoter family has also surrendered its approximately 17.8 per cent shareholding in the company as part of the resolution.
Fresh Capital Becomes Immediate Priority
Jain acknowledged that Bira 91 now requires fresh investment, a stronger balance sheet and new leadership to rebuild the business after a prolonged period of financial stress.
The brewer has struggled to raise capital over the past 18 months while defaulting on several loan obligations, resulting in delayed payments to employees and vendors. In his message, Jain apologised to staff affected by unpaid dues and said he would support a smooth leadership transition from the sidelines.
Investors Prepare Recapitalisation
The settlement paves the way for existing institutional investors and lenders to recapitalise the business and revive operations.
According to people familiar with the matter, B9 Beverages plans to restart production over the next three to six months after securing new funding. The company will also prioritise clearing statutory liabilities as well as pending employee and vendor payments.
B9 Beverages counts Peak XV Partners and Kirin Holdings among its major investors and has faced mounting pressure from shareholders amid weakening finances and operational disruptions.
From Craft Beer Success to Financial Crisis
Founded in 2015, Bira 91 emerged as one of India’s most recognised craft beer brands, expanding rapidly across domestic and international markets. However, regulatory setbacks, operational disruptions and funding challenges over the past two years severely impacted the company’s finances and growth plans.
The promoter family’s exit marks one of the most significant leadership changes in India’s alcoholic beverages sector and signals the beginning of a restructuring effort aimed at reviving one of the country’s best-known craft beer brands.
