Bira 91 founder Ankur Jain exits after debt deal
Bira 91 founder Ankur Jain has resigned from the board and surrendered the promoter family's 17.8% stake in a settlement with lenders and investors, after nearly two years of financial strain at parent B9 Beverages.
- Ankur Jain exits B9 Beverages board and gives up 17.8% stake
- Settlement releases his personal guarantees and ends litigation
- FY24 loss was Rs 748.8 crore; debt neared Rs 1,000 crore
- Existing investors and lenders to recapitalise the brand
What happened
Ankur Jain, the founder of B9 Beverages, the company behind craft beer brand Bira 91, has resigned from the board and all executive roles following a settlement with the company’s lenders and institutional investors. As part of the agreement, the promoter family has surrendered its 17.8% stake in the business. Jain announced the move on 22 July 2026, describing it as a clean and full close of this chapter.
The settlement involved roughly 30 stakeholders with competing claims. In return for stepping aside, Jain was released from the personal guarantees he had provided on corporate loans, and both sides agreed to withdraw pending litigation.
How Bira 91 got here
The exit caps nearly two years of financial strain. B9 Beverages reported a net loss of Rs 748.8 crore on operating revenue of Rs 638.5 crore in FY24, and it has not disclosed audited numbers for FY25 or FY26. Cash flow pressure led to delayed salaries and pending vendor payments, and parts of the company’s production were disrupted. Debt is estimated to have climbed towards Rs 1,000 crore.
Bira 91 was one of the more visible new age Indian consumer brands, backed by investors including Peak XV Partners, Sofina and Japan’s Kirin Holdings. Its troubles show how quickly a premium brand can unravel when the balance sheet runs ahead of demand.
What comes next
With the founder out, existing investors and lenders are expected to recapitalise the business through an out of court restructuring. The company will need fresh capital, a cleaner balance sheet and a new leadership team before it can stabilise operations and rebuild distribution in a beer market that keeps growing but remains heavily regulated.
For operators, the reset is a reminder that brand love does not substitute for working capital discipline. Bira 91 built strong recall in bars and retail, but stretched credit terms, inventory and expansion outran cash generation. Founders scaling consumer brands should watch debt servicing and vendor payment cycles as closely as they watch top line growth, because a stressed balance sheet can force ownership changes that dilute or erase years of brand building.
Zane’s analysis draws on original reporting by Entrackr. Read the original report.