Bira 91 in major crisis with founder Ankur Jain facing heavy debt, employee unrest, and investors walking away

Bira 91, one of India’s well-known craft beer brands, is facing a major crisis as the main shareholder, Japan’s Kirin Holdings, has opened joint discussions with other investors and creditors to restructure the company’s management, governance framework and business strategy, The Mint has reported.

What has actually happened?

According to the report, B9 Beverages, the parent company behind Bira 91, is battling a funding crunch alongside growing employee unrest, prompting a rare coordinated intervention from its investors.

In an emailed statement to The Mint, a Kirin spokesperson confirmed that the company is “aware of the current management situation” and is engaged in collaborative talks with shareholders and lenders on a potential restructuring plan.

The spokesperson also clarified that Kirin has no intention of exiting its investment or selling its 20.3% stake.

The proposed reset, as outlined in The Mint’s coverage, is designed to help B9 Beverages navigate its mounting financial pressures and stabilise operations while supporting the long-term scaling of the Bira 91 brand.

Kirin, which has broader global interests across alcoholic and non-alcoholic beverages as well as pharmaceuticals, emphasised that its overall international strategy is not tied to B9’s current turmoil.

Institutional investors remain the largest shareholder bloc in B9 Beverages, collectively holding 28.6%.

This group includes Peak XV (formerly Sequoia India), Sofina, Sixth Sense, MUFG Bank, Tiger Pacific, Mayfield and GHIQF Mauritius.

The company last raised $25 million in June 2024 through external commercial borrowings from Kirin—funds that now appear insufficient to tame the escalating financial strain.

Tensions have been mounting for months. In October, The Mint reported that several top institutional shareholders were considering the removal of CEO and founder Ankur Jain over concerns about his management of the financially stressed company.

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