Mumbai: Indore-based spice and food products maker Pushp Brand (India) has filed draft papers with market regulator Sebi to launch its initial public offering (IPO).
According to sources, the IPO size is expected to be between Rs 800 crore and Rs 1,000 crore. The issue will be entirely an offer-for-sale (OFS) of up to 74.45 lakh equity shares.
Since the IPO is fully an OFS, the company itself will not receive any money from the public issue. The proceeds will go directly to the selling shareholders.
Promoters And Investors To Sell Stake
Under the OFS, promoters Mahendra Kumar Surana and Surendra Kumar Surana will sell part of their holdings in the company.
Investor shareholders including A91 Emerging Fund I LLP and Sixth Sense India Opportunities III will also offload shares through the IPO.
A91 Emerging Fund I LLP is linked to Mumbai-based private equity firm A91 Partners, while Sixth Sense India Opportunities III is backed by venture capital firm Sixth Sense Ventures.
Company Background And Products
Founded in 1974, Pushp Brand (India) is a packaged spices and food products company.
Its product portfolio includes pure spices, blended spices, whole spices and other value-added food products. The company also sells hing, western seasonings, quick-fry mixes, soya products and tea.
The company competes with major spice brands such as Everest Food Products, MDH, Orkla India, Badshah Masala and Shubham Goldiee Masala.
Expansion Plans And Financial Growth
As part of its future growth plans, the company is setting up a green manufacturing facility. It also plans to commission an integrated storage facility by 2028 and a grinding and milling line for spices by 2029.
The company’s revenue from operations rose to Rs 481.94 crore in FY26 from Rs 398.24 crore in FY24. Profit increased to Rs 58.95 crore from Rs 33.33 crore during the same period.
The shares are proposed to be listed on both BSE and NSE.
