Bira 91 founder Ankur Jain exits board, gives up 17.8% promoter stake

Bira 91 founder Ankur Jain has stepped down from B9 Beverages’ board and the promoter family will surrender a combined 17.8% stake under a settlement with investors and lenders. Existing backers are expected to recapitalise the brewer and restart operations after its financial crisis.

— Source publishedWed, 22 Jul, 2026, 11:10 IST·First seen Wed, 22 Jul, 2026, 11:22 IST·Source Inc42

What happened

Bira 91 founder Ankur Jain has exited B9 Beverages’ board and will surrender the promoter family’s 17.8% stake under a settlement with investors and lenders.

Key facts

  • Ankur Jain and promoter family surrender combined 17.8% stake
  • Debt reportedly about ₹1,000 crore
  • More than 51 lakh customised bottles allegedly uncollected
  • Inventory write-off of about ₹80 crore
  • Liabilities around ₹300 crore as of May 2025
  • More than $200 million raised
  • Revenue crossed $100 million in FY23
  • Founded in 2015

Why this matters

The ownership reset could make Bira 91 a more actionable strategic partnership or acquisition candidate once recapitalisation clarifies liabilities, governance and the path to restarted operations.

What to watch

  • Announcement of the recapitalisation amount, participating investors and lender concessions.
  • Completion of Ankur Jain's board exit and transfer of the promoter family's 17.8% stake.
  • Appointment of a new CEO, restructuring officer, independent directors or investor-nominated chair.
  • Evidence of resumed production, distributor shipments and renewed availability in Bengaluru, Delhi NCR, Mumbai and other core markets.
  • Settlement status of vendor dues, employee claims, tax liabilities and lender repayments.
  • Changes in retail listings, tap placements, discounting and trade-credit terms versus Kingfisher, Simba, White Rhino and imported premium beer brands.
  • Any strategic buyer discussions, asset-sale mandate, insolvency filing or material litigation disclosure.
  • Close the promoter stake transfer and formalise board reconstitution with investor and lender representation.
  • Raise or release bridge and recapitalisation capital to clear payroll, key supplier, statutory and distributor obligations.
  • Restart brewing and dispatches in highest-velocity markets, likely concentrating on flagship beers and profitable pack sizes.
  • Renegotiate contracts with breweries, distributors, modern trade chains and on-premise accounts using tighter credit and inventory controls.
  • Conduct a portfolio and footprint reset, reducing low-velocity SKUs, loss-making geographies and non-core marketing spending.
  • Prepare governance, financial reporting and diligence materials that could support a strategic investment, sale or further refinancing.

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