Ankur Jain, founder of Bira 91's parent company B9 Beverages, has stepped down from the board and surrendered his 17.8% stake as part of a settlement that ends nearly two years of disputes with institutional investors and lenders.
- Ankur Jain exits B9 Beverages board and 17.8% stake
- Settlement ends two-year investor and lender disputes
- B9 Beverages to undergo recapitalization and operational restart
What happened
Ankur Jain, the founder of Bira 91’s parent company B9 Beverages, has stepped down from the company’s board and given up executive control along with a combined 17.8% ownership stake held by him and the promoter family. This move concluded a nearly two-year dispute with institutional investors and lenders backing the alcoholic beverage startup.
The agreed settlement also involves a mutual withdrawal of lawsuits between Jain’s side and the investors. Jain has been released from personal liabilities, notably guaranteed loans tied to the company. This resolution aims to enable the business to shift focus away from legal battles and financial uncertainty.
Why it matters
These complications triggered a financial crisis leading to halted production and swelling debt reported near ₹1,000 crore. The company also delayed payments to vendors and employees and faced legal notices over unpaid dues. The settlement and leadership change are critical steps to stabilize the company and facilitate a revival plan led by existing investors and lenders.
What to watch next
With the founder stepping down and promoters exiting, B9 Beverages will undergo recapitalization handled by its current investors, including Peak XV Partners, Sofina, Kirin Holdings, and lenders like Anicut Capital. The focus will be on settling statutory dues, clearing outstanding wages and vendor payments, and restarting production.
Market watchers will be keen to see if the renewed governance and financial restructuring can restore operational momentum and safeguard Bira 91’s position in India’s growing craft beer segment. The company’s ability to regain distributor and supplier confidence after recent disruptions will also be pivotal.