Ankur Jain Exits Bira 91 Board, Promoter Family To Surrender 17.8% Stake In Settlement

Ankur Jain, founder of B9 Beverages, has resigned from the company's board and agreed to give up all executive powers and ownership. The move settles a two-year dispute with institutional shareholders and lenders of the craft beer maker known for its Bira 91 brand.

"I have stepped down from the B9 Beverages board," Jain told the Economic Times in an exclusive interview on Tuesday, after signing the settlement agreement.

Settlement Terms

Jain and his family, who together hold a 17.8% stake in the company, will surrender their ownership and step away from all executive roles. In return, Jain will be released from personal liabilities tied to the company, according to sources cited by ET. He had personally stood guarantor for some of the company's loans.

Both sides have also agreed to withdraw all legal proceedings filed against each other. The agreements were signed on Tuesday.

"I am thankful to everyone who has allowed us to create the Bira 91 brand, team members, investors, business partners," Jain said. "We ran into rough weather in the last two years. However, with this resolution, the business will enter a new phase of growth, a phase in which I will be cheering for the company and the brand from the sidelines."

Company's Financial Troubles

B9 Beverages has been facing a serious financial crunch, with production currently suspended and debt reaching close to ₹1,000 crore. The company will now go through a recapitalisation process involving existing investors, with plans to resume operations within the next three to six months, ET reported.

As part of this process, the company aims to clear statutory dues, employee dues and vendor payments over the same period.

B9 Beverages counts Peak XV Partners and Japan's Kirin Holdings among its investors. Its lenders include Anicut Capital and the family office of Hero Corporate Services.

Jain had first indicated in December 2025, that he was open to stepping down for the sake of the company, as tensions grew among stakeholders over its future.

Part of the company's financial troubles trace back to a name change ahead of a planned initial public offering. The company changed its legal name from B9 Beverages Pvt Ltd to B9 Beverages Ltd to meet IPO-related requirements. This meant it had to reapply for excise licenses across several states.

Heavy spending on marketing, employee salaries, sponsorship deals and brewery expansion beyond actual demand also added to the losses, according to the report.

At its peak, Bira 91 crossed $100 million in revenue in FY23, driven largely by its wheat beer range, and had emerged as one of the standout names in India's beer industry.

"Over the last 10 years, the B9 team built the first 'Imagined in India' brand in the beer category," Jain said.