Bira 91 founder Ankur Jain exits board, surrenders 17.8% stake in debt settlement
Ankur Jain has stepped down from B9 Beverages’ board and relinquished promoter control under a settlement, according to Inc42. Investors and lenders are expected to recapitalise the brewer, clear dues and seek to restart operations amid reported debt of about ₹1,000 crore.
What happened
Bira 91 founder Ankur Jain has resigned from B9 Beverages’ board and surrendered promoter control and 17.8% stake under a settlement. Existing investors and
Key facts
- 17.8% combined promoter-family shareholding surrendered
- About ₹1,000 crore reported debt
- More than 51 lakh customised bottles uncollected
- Over $200 million raised
- Revenue exceeded $100 million in FY23
- About ₹80 crore inventory written off
- Around ₹300 crore liabilities as of May 2025
Why this matters
Bira 91’s restructuring could create an entry point for strategic capital or consolidation, but any deal will require resolving liabilities and validating the brand’s restart potential.
What to watch
- Formal announcement of the new board, CEO, and investor/lender ownership structure.
- Size, source, and terms of the fresh capital raise, including any debt-to-equity conversion.
- Evidence that overdue salaries, vendor bills, taxes, and distributor claims are being cleared.
- Resumption of brewing, dispatches, and brand availability in major markets such as Delhi NCR, Karnataka, Maharashtra, and Telangana.
- State excise licence renewals, manufacturing-partner arrangements, and any litigation or creditor action.
- Retailer and bar re-listings versus permanent replacement of Bira 91 taps and shelf space by Kingfisher, Carlsberg, AB InBev, and regional brewers.
- Appoint a lender/investor-backed board and operating leadership team with restructuring experience.
- Close a recapitalisation package combining fresh equity, debt restructuring, and settlement of overdue statutory, supplier, and distributor obligations.
- Prioritise production restart for fastest-moving Bira 91 variants and profitable geographies rather than immediately rebuilding a national portfolio.
- Renegotiate contracts with breweries, distributors, landlords, and suppliers to reduce fixed commitments and restore route-to-market access.
- Review non-core international, experiential, and premium-adjacent spending while focusing cash on availability, quality control, and working capital.