Ankur Jain, the founder and Chief Executive Officer of Bira 91 parent B9 Beverages, has stepped down from the company’s board and executive leadership following a full settlement with institutional investors and lenders. The agreement resolves a two-year corporate dispute involving nearly 30 stakeholders, paving the way for the debt-laden craft brewer to undergo a comprehensive recapitalization and management restructuring. As part of the deal, Jain and the promoter family will surrender their executive powers along with their 17.8% ownership stake in B9 Beverages. In return, lenders—including Anicut Capital and Hero Corporate Services—and key shareholders like Peak XV Partners and Kirin Holdings have agreed to withdraw all legal claims and release personal guarantees extended by Jain against corporate loans.
The settlement marks a decisive turning point for Bira 91, which experienced severe liquidity constraints, production halts, and unpaid dues to employees and vendors amid mounting debt estimated at nearly ₹1,000 crore. In a statement announcing his departure, Jain noted that the company requires fresh capital, a clean balance sheet, and a new executive team to navigate its next phase of growth. Existing investors now plan to inject fresh equity to clear outstanding liabilities, address working capital needs, and resume brewery operations over the next three to six months.