Capital markets regulator Sebi has approved the IPO of Pushp Brand (India) for public listing, marking a significant milestone in the company's fundraising journey. The approval comes alongside Sebi's approval for three other companies - Renny Strips, Rodec Pharma, and Krishna Buildspace - clearing the way for their respective public issues within prescribed timelines. This regulatory clearance enables Pushp Brand to proceed with its planned public offering, which was originally filed with preliminary papers in May 2026. As per The Hindu BusinessLine, the three companies obtained Sebi's observations during May 26-27, 2026, with obtaining observations being equivalent to securing approval to float a public offering.
Indore-based spice manufacturer Pushp Brand (India) has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering. According to sources, the IPO size is expected to be between ₹800-1,000 crore. The offering will be structured entirely as an offer-for-sale (OFS) of up to 74.45 lakh equity shares by promoters and investor selling shareholders. 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, with the draft red herring prospectus (DRHP) filed on Tuesday detailing this comprehensive shareholder divestment plan.
Under the OFS structure, promoters Mahendra Kumar Surana and Surendra Kumar Surana will offload their stakes, while investors A91 Emerging Fund I LLP and Sixth Sense India Opportunities III will also sell their shares in the company. As reported by sources, 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. The filing date was confirmed as May 27, 2026, with the comprehensive shareholder divestment plan detailed in the draft red herring prospectus.
Pushp Brand (India) Ltd operates as a branded packaged spices and food company with a diverse product portfolio. Founded in 1974, the company's offerings include pure spices, blended spices, whole spices and value-added products such as hing, western seasonings, quick-fry mixes, soya products and tea. The company competes with established players in the packaged spices category including Everest Food Products, Mahashian Di Hatti (MDH), Orkla India, Badshah Masala and Shubham Goldiee Masala. As part of its future growth plans, the company is setting up a green manufacturing facility and plans to commission an integrated storage facility by 2028 and a grinding and milling line for spices by 2029.
The company's financial performance shows strong growth momentum with revenue from operations rising to ₹481.94 crore in FY26 from ₹398.24 crore in FY24. Profit increased significantly to ₹58.95 crore from ₹33.33 crore during the same period, demonstrating the company's operational efficiency and market expansion. This robust financial trajectory supports the company's decision to pursue the IPO at this time, with the proceeds from the OFS structure directly benefiting existing shareholders rather than funding new business initiatives.
The company's shares are proposed to be listed on both BSE and the National Stock Exchange (NSE) following the completion of the IPO process. As reported by The Hindu BusinessLine, ICICI Securities Ltd, IIFL Capital Services, and Systematix Corporate Services are serving as the book-running lead managers for the IPO, ensuring professional guidance throughout the public offering process. The listing on both major Indian stock exchanges will provide enhanced liquidity and visibility for the company's shares. The shares of all three approved companies are proposed to be listed on BSE and NSE, providing investors with multiple listing options.
