Pushp Brand IPO Announcement
Packaged spices manufacturer Pushp Brand (India) has successfully secured the green light from the Securities and Exchange Board of India (SEBI) for its anticipated initial public offering (IPO). According to the Draft Red Herring Prospectus (DRHP), the IPO will consist of an offer for sale (OFS) of up to 74.45 lakh equity shares by current shareholders. The selling shareholders comprise promoters Surendra Kumar Surana and Mahendra Kumar Surana, alongside investors A91 Emerging Fund I LLP and Sixth Sense India Opportunities III.
A91, which invested approximately Rs 125 crore in Pushp Brand back in 2020, currently possesses a 20.14% stake in the company. This investor is planning to sell a portion of its shares through the OFS. Sixth Sense, which invested about Rs 101 crore in 2023, holds a 7.81% stake and intends to partially divest through the IPO as well.
The company has appointed ICICI Securities, IIFL Capital Services, and Systematix Corporate Services as the book running lead managers for the offering. Established in 1974 in Indore, Madhya Pradesh, Pushp Brand has evolved from a regional spices enterprise into a packaged food company under the Pushp and Munimji brands. Its product range encompasses pure and blended spices, hing, whole spices, and additional offerings such as western seasonings, quick-fry mixes, soya products, and tea.
As of March 2026, Pushp had developed a robust portfolio featuring 312 SKUs and a distribution network that spans 24 states and union territories. The products are distributed via 1,016 distributors and are available at over 3.68 lakh retail outlets.
On the financial front, Pushp’s operational revenue surged by 19% to Rs 482 crore in FY26, compared to Rs 405 crore in FY25. Simultaneously, the company’s restated profit rose to Rs 58.95 crore from Rs 45.85 crore during the same timeframe.
Pushp Brand finds itself in competition with established packaged spices firms including Everest Food Products, Mahashian Di Hatti, Orkla India, Aachi Masala Foods, and Sakthi Masala, among others.