Bira 91 Founder Ankur Jain Exits Board and Surrenders Stake Following Multi-Stakeholder Settlement

​Ankur Jain, the founder and CEO of B9 Beverages, the parent company of craft beer brand Bira 91, has stepped down from the company's board and all executive roles, along with his family. His departure comes after a settlement deal with institutional investors and lenders. This agreement ends a lengthy two-year governance dispute involving nearly 30 stakeholders with conflicting financial interests. As part of the settlement, Jain and his family will give up their entire 17.8% equity stake in B9 Beverages and will no longer have operational control. In exchange, all active lawsuits and mutual claims will be withdrawn, and Jain is free from personal liabilities related to the corporate loans he had secured during the company's financial difficulties.

This resolution is a significant turning point for Bira 91, which has struggled for the past two years with serious cash flow problems, a mounting debt of about ₹1,000 crore, and a complete halt in manufacturing. In FY24, the company reported a net loss of ₹748.8 crore on operating revenues of ₹638.5 crore. This led to unpaid vendor debts, delayed employee salaries, and loan defaults. With the governance issue resolved and obstacles at the founder level cleared, major investors such as Japan's Kirin Holdings and Peak XV Partners, along with lenders like Anicut Capital and Hero Corporate Services, are starting a full balance sheet cleanup and recapitalization plan.

The new management team's top priority will be to secure fresh capital to pay off outstanding taxes, settle employee back-pay, address vendor debts, and restart brewery operations within the next 3 to 6 months. Reflecting on his departure, Jain thanked the stakeholders and recognized that although the brand faced difficult times, the agreement allows Bira 91 to enter a new growth phase with new leadership, better financial management, and a restructured balance sheet.​