Pushp Brand IPO: SEBI Approves 74.45 Lakh Share Offer

Pushp Brand (India), an Indore-based packaged food company, has received approval from the Securities and Exchange Board of India (SEBI) to launch its proposed initial public offering (IPO). The offering will include an offer for sale of up to 74.45 lakh equity shares by existing shareholders.

These selling shareholders include promoters Surendra Kumar Surana and Mahendra Kumar Surana. Investors A91 Emerging Fund I LLP and Sixth Sense India Opportunities III will also partially divest their holdings.

Offer Details

• Offer for sale: Up to 74.45 lakh equity shares
• A91 Emerging Fund I LLP investment: Rs 125 crore in 2020, holds 20.14% stake
• Sixth Sense India Opportunities III investment: Rs 101 crore in 2023, owns 7.81% stake

Founded in Indore, Madhya Pradesh, in 1974, Pushp Brand started as a regional spice business. It has since expanded into a comprehensive packaged food company, operating under the ‘Pushp’ and ‘Munimji’ brands.

The company’s product range includes pure and blended spices, hing, whole spices, western seasonings, quick-fry mixes, soya products, and tea. As of March 2026, Pushp Brand maintained 312 stock keeping units (SKUs).

Its distribution network covers 24 states and union territories, reaching 1,016 distributors and over 3.68 lakh retail touchpoints nationwide.

Financial Snapshot

• FY26 Revenue from operations: Rs 482 crore (19% increase from FY25’s Rs 405 crore)
• FY26 Restated profit: Rs 58.95 crore (up from Rs 45.85 crore)

Pushp Brand competes with established brands like Everest Food Products, Mahashian Di Hatti, Orkla India, Aachi Masala Foods, and Sakthi Masala. The IPO primarily provides an exit opportunity for existing investors, including the participating promoters.

ICICI Securities, IIFL Capital Services, and Systematix Corporate Services have been appointed as the book running lead managers for the issue. Further details, including the IPO price band and issue dates, are anticipated later.