Bira 91 Founder Ankur Jain Steps Down from Board After Stakeholder Settlement
In his letter, Jain acknowledged the impact the prolonged restructuring process had on various stakeholders, including employees awaiting salaries.
B9 Beverages founder Ankur Jain has stepped down from the company’s board and exited all executive responsibilities, announcing the decision through a LinkedIn post in which he shared a detailed letter outlining a comprehensive settlement with lenders, investors, creditors, and other stakeholders. The move is expected to facilitate the company’s restructuring and create a clearer path for fresh capital infusion.
According to the letter, the settlement includes the withdrawal of all litigation among stakeholders, the release of personal guarantees provided by Jain for the company’s borrowings, and the immediate exit of the promoter family from all board and executive positions. The agreement is expected to simplify B9 Beverages’ governance structure and support future fundraising efforts.
Explaining the delay in reaching the resolution, Jain said the process took longer than anticipated as it involved nearly 30 stakeholders with differing interests, including lenders, investors, creditors, and shareholders. Describing the outcome as a “clean and full close” to a difficult chapter, he said the agreement would allow the company to move forward with a stronger foundation.
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In his letter, Jain acknowledged the impact the prolonged restructuring process had on various stakeholders, including employees awaiting salaries, vendors waiting for payments, lenders seeking resolution, and shareholders looking for clarity.
Ankur Jain said Bira 91 now requires fresh capital, a cleaner balance sheet, and a professional management team to lead its next phase of growth. While stepping away from operational responsibilities, Jain said he would support a smooth leadership transition and continue cheering for the brand from the sidelines.
Founded in 2015, B9 Beverages built Bira 91 into one of India’s most recognised premium beer brands and played a significant role in popularising the craft beer category in the country. Over the past decade, the company expanded its footprint across India and international markets while raising more than $450 million from prominent investors, including Peak XV Partners, Sofina, Kirin Holdings, MUFG Bank, Tiger Pacific Capital, and Sixth Sense Ventures.
However, the company has faced mounting financial challenges over the past two years amid slowing demand, liquidity constraints, and a difficult fundraising environment. For FY24, B9 Beverages reported a net loss of ₹748.8 crore on operating revenue of ₹638.5 crore, reflecting continued financial stress. The company also witnessed delays in salary payments and vendor settlements as it worked to address cash flow pressures. Its financial results for FY25 and FY26 have not yet been disclosed publicly.