# Bira 91 revival plan: Anicut-led board offers buyout

> Anicut Capital-led board proposes buyout of key investors to recapitalize Bira 91 amid financial crisis
- Title: Bira 91 revival plan: Anicut-led board offers buyout
- Summary: Anicut Capital-led board proposes buyout of key investors to recapitalize Bira 91 amid financial crisis Bira 91's board, led by its largest lender Anicut…
- Keywords: bira 91, anicut capital, kirin holdings, peak xv partners, sofina, b9 beverages, craft beer, debt restructuring, liquor, india, seattle, Bira
- Source: The Economic Times — https://economictimes.indiatimes.com/industry/cons-products/liquor/bira-91-revival-plan-anicut-led-board-offers-to-buy-out-key-investors/articleshow/134419115.cms
- Author: Ratna Bhushan and Mohit Bhalla
- Published: 2026-09-22T18:36:00+00:00
- Read time: 1 min
- Topics: bira 91, anicut capital, kirin holdings, peak xv partners, sofina, b9 beverages, craft beer, debt restructuring, liquor, india, seattle
## Bira 91 board reconstituted
Anicut Capital leads Bira 91's new board to recapitalize the craft beer brand amid financial struggles

> One of the preconditions for any new investor, including family offices or PE firms, is that existing investors have to exit
## Key investors to exit
Kirin Holdings, Peak XV Partners and Sofina hold 41.1% stake but face buyout offers to exit the company

> Japan's Kirin Holdings, which holds 20.1 percent stake in B9 Beverages, has engaged EY for the process of its stake sale
## Founder exits
Bira 91 founder Ankur Jain and his family gave up board positions after two-year dispute over unpaid salaries and debt

> Founder Jain and his family gave up their board positions on 22 July in lieu of being relieved of all personal liabilities towards the company
## Debt restructuring underway
Bira 91 faces ₹1,000-1,500 crore debt with operations at standstill for a year, seeking brand value as benchmark

> The company has liabilities of 1000 to 1500 crore and operations have been at a standstill for a year now
## Settlement offers made
Bira 91 has made settlement offers to 60 large vendors and financial creditors for debt resolution

> About 60 large vendors have also been asked to settle their dues and continue servicing the company
## Key takeaway

Bira 91's board, led by its largest lender Anicut Capital, is buying out major investors to stabilize the craft beer brand facing ₹1,500 crore debt