Why Did Bira 91 Founder Ankur Jain Exit B9 Beverages Amid Financial Challenges?
Ankur Jain, the founder of Bira 91 parent company B9 Beverages, has stepped down from the company’s board after reaching a settlement agreement with lenders and institutional investors, according to a report by The Economic Times.
The agreement marks the end of a two-year dispute, with the promoter family relinquishing executive control of the company in exchange for relief from certain personal liabilities linked to B9 Beverages’ borrowings.
The leadership change comes as the beer maker continues to grapple with financial stress, creditor disputes, and efforts to restructure its business.
What Does the Settlement Agreement Include?
As part of the settlement, Ankur Jain and the promoter family have given up their executive powers within the company.
In return, the agreement reportedly provides relief from personal liabilities arising from guarantees extended against some of the company’s loans.
The move is expected to pave the way for a broader restructuring of B9 Beverages as investors and lenders seek to stabilise the business.
B9 Beverages Faces Mounting Financial Pressure
B9 Beverages has witnessed significant financial challenges over the past few years.
For FY24, the company reported:
- Operating revenue: ₹638.5 crore
- Net loss: ₹748.8 crore
The company has not yet disclosed its financial statements for FY25 and FY26, raising concerns among stakeholders over its financial position.
According to reports, the business has also faced:
- Cash flow constraints
- Delayed salary payments
- Legal notices from creditors
- Pressure from investors for management changes
These issues prompted institutional investors to push for a leadership overhaul, including Jain’s departure from the board.
Legal Disputes and Costly Rebranding Added to Challenges
B9 Beverages’ financial difficulties also resulted in proceedings before the National Company Law Tribunal (NCLT).
The company’s situation reportedly worsened after an unsuccessful corporate rebranding initiative that followed a change in its registered corporate name.
According to the report, the exercise cost the company around ₹80 crore, further adding to its financial burden during an already difficult period.
Investors Back Restructuring Efforts
Despite its challenges, B9 Beverages continues to receive support from several prominent investors, including:
The company is now pursuing an out-of-court restructuring while simultaneously seeking fresh capital infusion to strengthen its balance sheet and revive operations.
The restructuring is expected to focus on improving governance, restoring financial stability, and supporting future growth.
Employees and Creditors Raised Concerns
According to the report, employee dissatisfaction also intensified during the company’s financial crisis.
By late 2025, more than 250 employees had reportedly written to the company’s board and major investors, highlighting concerns over delayed salary payments and alleged corporate governance issues.
Meanwhile, B9 Beverages had accumulated borrowings of nearly ₹1,000 crore from lenders, including:
The report added that Ankur Jain had provided personal guarantees for a portion of these loans, making the settlement agreement particularly significant.
What’s Next for Bira 91?
The leadership transition marks a critical turning point for B9 Beverages as it works to overcome prolonged financial stress.
With the promoter stepping away from executive control, the company is expected to focus on restructuring its operations, securing fresh funding, and rebuilding stakeholder confidence.
How successfully the company executes its turnaround strategy will determine the future trajectory of Bira 91, one of India’s best-known craft beer brands.
