Pushp Brand IPO Gets Sebi Nod: Promoters, Investors To Sell 74.45 Lakh Shares
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Pushp Brand has received Sebi approval for its IPO, with promoters and investors set to sell up to 74.45 lakh shares through an OFS.
Packaged spices and food company Pushp Brand (India) has received approval from the Securities and Exchange Board of India (Sebi) to launch its initial public offering (IPO).
The company received Sebi's final observation on August 27. It had filed its draft IPO papers in June.
The IPO will be an offer for sale (OFS) of up to 74.45 lakh equity shares. Promoters Mahendra Kumar Surana and Surendra Kumar Surana, along with investors A91 Emerging Fund I LLP and Sixth Sense India Opportunities III, will sell shares through the offer.
There will be no fresh issue in the IPO, so Pushp Brand will not receive any funds from the share sale.
In its draft red herring prospectus (DRHP), the company said a listing would help increase its visibility and brand image and provide a public market for its equity shares in India.
Pushp Brand IPO: Who Is Selling Shares?
A91 Emerging Fund I, which invested around Rs 125 crore in Pushp Brand in 2020, owns a 20.14% stake in the company. It will sell part of its holding through the IPO.
Sixth Sense India Opportunities III invested around Rs 101 crore in the company in 2023 and currently owns a 7.81% stake. It will also sell part of its holding.
The promoters will also participate in the OFS.
The company has not yet announced the IPO price band or the dates for the public issue.
Pushp Brand IPO Financials
Pushp Brand's revenue increased to Rs 481.94 crore in FY26 from Rs 404.64 crore in FY25. It was Rs 398.24 crore in FY24.
Net profit rose to Rs 58.95 crore in FY26 from Rs 45.85 crore in FY25 and Rs 33.33 crore in FY24.
Revenue | 398.24 | 404.64 | 481.94 |
Net Profit | 33.33 | 45.85 | 58.95 |
Total Assets | 235.07 | 286.63 | 362.53 |
Total assets stood at Rs 362.53 crore at the end of FY26, compared with Rs 286.63 crore in FY25 and Rs 235.07 crore in FY24.
From Indore Spices Business To Packaged Food Company
Established in Indore in 1974, Pushp Brand has expanded from a regional spices business into a packaged food company operating under the Pushp and Munimji brands.
Its product portfolio includes pure and blended spices, whole spices, hing and other packaged food products. The company had 312 stock keeping units (SKUs) as of March 31, 2026.
Pushp Brand also plans to launch Pushp Kadak Chai in the second quarter of financial year 2026-27.
The company's distribution network covered 24 states and Union Territories as of FY26, with 1,016 distributors and more than 3.68 lakh retail touchpoints.
According to the company's IPO documents, Pushp Brand had a 20.7% market share in the spices segment in Madhya Pradesh in FY25.
Pushp Brand IPO: Reservation, Lead Managers
Qualified institutional buyers (QIBs) will be allocated 50% of the net offer, while 35% has been reserved for retail investors and 15% for non-institutional investors.
IIFL Capital Services, ICICI Securities and Systematix Corporate Services are the book-running lead managers for the issue. KFin Technologies is the registrar.
Sebi's final observation clears the way for Pushp Brand to move towards the IPO. The company is yet to disclose the price band and subscription schedule.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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