Private Equity

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Board, investors in talks to sell founder Ankur Jain's 18% stake in B9 Beverages

Economic Times   B9 Beverages  

The board of Delhi-based craft beer maker B9 Beverages and its investors, led by Anicut Capital, have initiated a process to identify buyers for the 17.8% stake held by founder Ankur Jain and his family.Potential interested parties that have been approached include Varun Beverages, Burman Family Office, Simba Craft Beer, DS Group, Muthoot Family Office, Hero Corp, and the Murugappa Group. The development follows the exit of Ankur Jain from the company after a two-year dispute with shareholders and lenders.Founded in 2015 by Ankur Jain, B9 Beverages produces the craft beer brand Bira 91. The company, which counts Kirin Holdings, Peak XV Partners, and Sofina among its investors, has been out of operation for a year. The potential transaction is expected to require an estimated investment of INR 500-Cr to restart operations and revive the brand, with any final deal contingent upon the resolution of ongoing litigations and liabilities, including outstanding employee salaries.

Between Jan 2016 and Jun 2025, Bira 91 had attracted about $ 335 M from Peak XV Partners, Anicut Capital, Sixth Sense Ventures, MUFG Innovation Partners, RB Investments, Others.For FY25, Bira 91 had reported about INR 555 Cr in Operating Income and about INR 643 Cr in Net Loss.