1 month ago
Bira 91 Founder Steps Down, Surrenders Stake
Ankur Jain, the founder of Bira 91, has stepped down from his company, B9 Beverages, and given up his family's 17.8% stake.
This is part of a deal with the company's investors and lenders.
The deal ends a long argument and helps the company get new money to restart operations.
Bira 91 has been having money problems, with a lot of debt and issues with suppliers.
The company hopes to pay its bills and start making beer again soon.
Ankur Jain steps down from B9 Beverages board and surrenders 17.8% stake.
Settlement ends a nearly two-year dispute with investors and lenders.
Jain released from personal liabilities, including guaranteed loans.
B9 Beverages faces ₹1,000 Cr debt and operational disruptions.
Company plans recapitalization to clear dues and restart operations.
- Who
- Ankur Jain, founder of Bira 91 and B9 Beverages
- What
- Stepped down from the board and surrendered 17.8% stake as part of a settlement with investors and lenders
- Where
- India
- When
- Settlement signed recently, ending a nearly two-year dispute
- Why
- To resolve financial troubles, clear liabilities, and facilitate recapitalization
Investors and Lenders
Ankur Jain and Promoter Family
Control of B9 Beverages
Investors and Lenders
Investors and lenders sought greater control over the company due to concerns over governance and financial management.
Ankur Jain and Promoter Family
Ankur Jain and the promoter family initially resisted the loss of control but ultimately agreed to the settlement.
Key facts
- Founder
- Ankur Jain
- Company
- B9 Beverages
- Stake Surrendered
- 17.8%
- Investors
- Peak XV Partners, Sofina, Kirin Holdings
- Lenders
- Anicut Capital, Hero Corporate Services family office
- Debt
- ₹1,000 Cr
- Revenue (FY23)
- $100 Mn
- Founded
- 2015
Quotes
Ankur Jain
Founder of B9 Beverages
“"It is, in every sense, a clean and full close of this chapter. I believe this is the right outcome — for the company, and honestly, for me. 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."”
businesstoday.in
“"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," Jain wrote.”
businesstoday.in
Sources
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