Ankur Jain, the visionary founder of Bira 91's parent company B9 Beverages, announced on Wednesday his immediate departure from his executive position and the company's board. This move follows a protracted settlement agreement reached with nearly 30 different lenders and stakeholders, which Jain stated was essential to pave the way for the company's urgent restructuring and a significant capital raise.
Jain confirmed that as part of the comprehensive settlement, he and his family are surrendering their combined 17.8% stake in B9 Beverages and relinquishing all executive control. The agreement also includes the withdrawal of all claims and litigation between the parties, alongside the release of personal guarantees Jain had provided for corporate loans over the years.
A Clean Slate for Bira 91's Future
In a public statement, Jain emphasized the necessity of his exit, stating, "Bira 91 needs fresh capital, a clear balance sheet, and a management team that can build the next phase without the weight of everything that came before." He affirmed his commitment to supporting a smooth transition and continuing to offer assistance to the company from the sidelines.
Mounting Financial Challenges
Jain's departure underscores the severe financial pressures B9 Beverages has faced over the past two years. The company has grappled with mounting losses, operational hurdles, and repeated failed attempts to secure new funding. Its financial performance saw a significant downturn, with revenue dropping to approximately ₹600 crore in FY24 from nearly ₹840 crore in FY23. Concurrently, losses widened dramatically, exceeding ₹640 crore, attributed to high operating costs, excise duties, supply-chain disruptions, and regulatory delays.
Legal Battles and Failed Funding Rounds
The brewer's troubles escalated in October 2025 when it became embroiled in a legal dispute with strategic investor Kirin Holdings and lender Anicut Capital. These entities had taken control of BTB (Better Than Before), the operator of The Beer Café chain and one of B9's few profitable assets. B9 Beverages challenged this takeover, alleging a breach of contract, and sought interim relief from the Delhi High Court to prevent the sale of BTB's shares.
Around the same period, B9 was actively seeking fresh capital after a proposed investment from Global Emerging Markets (GEM) fell through. The company subsequently shifted its focus to attracting domestic investors to address its urgent funding needs.