Anicut Capital has acquired founder Ankur Jain’s pledged stake in B9 Beverages, the company behind Bira 91, following a settlement between the founder, investors and lenders. The development marks another major shift for the craft beer maker, which has been navigating financial challenges over the past year.
The lender is expected to take a more active role in the company’s future by nominating three directors to B9 Beverages’ board. The appointments are intended to oversee governance and guide the restructuring process as the company works toward operational stability.
Founder Exit Marks Shift in Control
The latest development comes shortly after Jain stepped down from the board and gave up executive control of the company he founded. His exit follows negotiations with shareholders and creditors over the company’s debt obligations, bringing an end to his direct involvement in day-to-day decision-making.
Anicut Capital had provided venture debt to B9 Beverages between 2017 and 2022, with Jain and his family’s shareholding pledged as collateral. While the lender has assumed ownership of those shares, voting rights are expected to transfer once the restructuring process reaches agreed milestones over the coming months.
Focus Turns to Financial Recovery
B9 Beverages is estimated to have liabilities of nearly Rs 1,000 crore, making the restructuring one of the most significant in India’s startup and consumer brand ecosystem. The company counts investors including Peak XV Partners, Sofina and Kirin Holdings among its backers.
The immediate priority for the new leadership will be to stabilize the business, improve governance and chart a recovery plan. How quickly the restructuring progresses will likely determine Bira 91’s ability to strengthen its market position and regain investor confidence.
FAQs
- What happened to Bira 91?
Anicut Capital has taken over founder Ankur Jain’s pledged stake in B9 Beverages, the parent company of Bira 91, as part of its debt restructuring process.
- Why did Anicut Capital take over the stake?
The stake was pledged as collateral for venture debt. After a settlement, the lender assumed ownership of those shares.
- Has Ankur Jain left Bira 91?
Yes. He has stepped down from the board and no longer has executive control of the company.
- Will Bira 91 continue to operate?
Yes. The company is continuing its operations while undergoing financial restructuring.
