1 month ago
Bira 91 Founder Ankur Jain Exits Board
Ankur Jain, the founder of Bira 91, a popular craft beer brand in India, has stepped down from his roles at the company.
This happened after a long negotiation with lenders and investors to settle financial issues.
The company had trouble paying back loans and couldn't raise new money.
Jain and his family are no longer part of the board or executive team.
They also gave up their stake in the company.
Jain said he is sorry to employees for delayed payments and hopes the company will do well under new leadership.
He plans to start new projects with his team and will support Bira 91 from the sidelines.
Ankur Jain and his family have resigned from the board and executive roles at B9 Beverages following a settlement with lenders and investors.
The settlement involved nearly 30 stakeholders and led to the withdrawal of all claims and litigation.
Jain's personal guarantees for corporate loans will be released, and the promoter family has given up its 17.8% stake in the company.
Bira 91 is seeking fresh capital, a clear balance sheet, and new management to guide its next phase of growth.
Jain apologized to employees for delayed dues and expressed hope that Bira 91 will have decades ahead under new ownership and management.
- Who
- Ankur Jain and his family
- What
- Stepped down from the board and executive roles of B9 Beverages
- Where
- B9 Beverages, India
- When
- Following a settlement with lenders and investors
- Why
- To pave the way for the company's future with fresh capital and new management
Key facts
- Founder
- Ankur Jain
- Company
- B9 Beverages
- Brand
- Bira 91
- Stakeholders Involved
- 30
- Promoter Family Stake
- 17.8%
- Kirin Holdings Stake
- 20.1%
- Peak XV Stake
- 14.6%
Quotes
Ankur Jain
Founder and CEO of B9 Beverages
“"We have now reached that settlement. As part of it, my family and I will be stepping away — from the board, and from our executive positions — with immediate effect."”
telegraphindia.com
Sources
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