A91, Sixth Sense-backed Pushp Brand gets SEBI nod for IPO

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Packaged spices maker Pushp Brand (India) has received approval from the Securities and Exchange Board of India (SEBI) to launch its proposed initial public offering (IPO).
According to the DRHP, the IPO will comprise an offer for sale (OFS) of up to 74.45 lakh equity shares by existing shareholders. The selling shareholders include promoters Surendra Kumar Surana and Mahendra Kumar Surana, along with investors A91 Emerging Fund I LLP and Sixth Sense India Opportunities III.
A91, which invested around Rs 125 crore in Pushp Brand in 2020, currently holds a 20.14% stake in the company. The investor will sell only a part of its holding through the OFS. Sixth Sense, which invested around Rs 101 crore in 2023, owns a 7.81% stake and will also partially exit through the IPO.
The company also appointed ICICI Securities, IIFL Capital Services and Systematix Corporate Services as the book running lead managers to the issue.
Founded in 1974 in Indore, Madhya Pradesh, Pushp Brand has grown from a regional spices business into a packaged food company operating under the Pushp and Munimji brands. Its portfolio includes pure and blended spices, hing, whole spices and other products such as western seasonings, quick-fry mixes, soya products and tea.
As of March 2026, Pushp had 312 SKUs and a distribution network covering 24 states and union territories. Its products were sold through 1,016 distributors and more than 3.68 lakh retail touchpoints.
Financially, Pushp's revenue from operations rose 19% to Rs 482 crore in FY26 from Rs 405 crore in FY25 while its restated profit increased to Rs 58.95 crore from Rs 45.85 crore during the same period.
The company competes with established packaged spices brands such as Everest Food Products, Mahashian Di Hatti, Orkla India, Aachi Masala Foods, and Sakthi Masala, among others.

document fetched 2026-08-28 04:50