Ankur Jain, the founder of Bira 91's parent company B9 Beverages, announced his departure from the company's board and executive position on Wednesday. His exit follows a complex settlement reached with nearly 30 different lenders and stakeholders, a process Jain described as taking longer than anticipated due to competing interests.
In a public statement, Jain confirmed that the settlement agreement includes the release of personal guarantees he had provided for corporate loans over the years. As part of the arrangement, Jain and his family will surrender their combined 17.8% stake in B9 Beverages, effectively stepping away from all executive control and board roles.
Jain expressed his belief that this outcome is beneficial for both the company and himself, 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 pledged to support a smooth transition from the sidelines.
Financial Turmoil at Bira 91
This announcement brings to a close a period of significant financial distress for B9 Beverages. The company has grappled with mounting losses, operational hurdles, and unsuccessful fundraising attempts over the past two years.
In October 2025, B9 Beverages became entangled in a legal dispute when strategic investor Kirin Holdings and lender Anicut Capital moved to take control of BTB (Better Than Before), the operator of The Beer Café chain and one of the group's more profitable ventures. B9 challenged this takeover in the Delhi High Court, alleging a breach of contract, and secured interim relief preventing the sale of BTB shares.
Around the same time, B9 was actively seeking fresh capital after a proposed investment from Global Emerging Markets (GEM) failed to materialize. The company subsequently shifted its focus to securing funding from domestic investors.
The brewer's financial performance had deteriorated sharply, with revenue falling to approximately ₹600 crore in FY24 from nearly ₹840 crore in FY23. Losses widened significantly to over ₹640 crore, attributed to high operating costs, excise duties, supply-chain disruptions, and regulatory delays.