India: B9 Beverages’ founder and CEO to step down this week - report

B9 Beverages, the maker of Bira 91, is set for a leadership change with founder and CEO Ankur Jain expected to step down this week, according to a report by Mint on April 23.

The report said a new chief executive is likely to be appointed as investors and lenders move to stabilise the company, which has been facing financial stress and has halted operations since around September 2025.

As part of the proposed revival plan, investors are preparing to infuse around ₹400 crore at a reduced valuation, with an option to add another ₹100 crore, according to people cited in the report. The funds are expected to be used to clear liabilities and restart the business.

The company has been dealing with mounting financial challenges, including salary delays running into several crores and increasing pressure from vendors. The situation has also led to creditor action, with some lenders initiating proceedings before the National Company Law Tribunal, the report noted.

B9 Beverages, founded in 2015, had emerged as a prominent venture-backed consumer brand with backing from investors such as Peak XV Partners, Sofina and Kirin Holdings. The company was last valued at about $625 million following a funding round in early 2024.

Financial data cited in the report showed revenue declining to ₹638.5 crore in FY24 from ₹824.3 crore in FY23, while losses widened to ₹748.8 crore from ₹445.4 crore.

The report also highlighted employee protests earlier this year over unpaid wages and pending statutory dues, alongside tax-related notices and ongoing funding constraints.

Investors are said to be pursuing an out-of-court restructuring to avoid formal insolvency proceedings, with the planned capital infusion and management change aimed at reviving operations under a new leadership team.

23 April, 2026