Indore-based spice manufacturer Pushp Brand (India) has submitted preliminary documents to the capital markets regulator SEBI to initiate an initial public offering (IPO). Sources indicate that the anticipated IPO could raise between ₹800 and ₹1,000 crore.
According to the draft red herring prospectus (DRHP) submitted on Tuesday, the IPO will consist entirely of an offer-for-sale (OFS) of up to 74.45 lakh equity shares, which will be sold by promoters and investor shareholders. Promoters Mahendra Kumar Surana and Surendra Kumar Surana plan to offload portions of their holdings, while investors A91 Emerging Fund I LLP and Sixth Sense India Opportunities III will also divest their shares in the company.
Pushp Brand (India) Ltd specializes in branded packaged spices and food products. Its 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 faces competition from several established brands in the packaged spices sector, including Everest Food Products, Mahashian Di Hatti (MDH), Orkla India, and Badshah Masala.
Following the IPO, the company’s shares are set to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). ICICI Securities Ltd, IIFL Capital Services, and Systematix Corporate Services have been appointed as the book-running lead managers for the upcoming IPO.
Published on May 27, 2026.
