Pushp Masale Parent Files DRHP for INR 1,000 Cr IPO
The proposed IPO will consist entirely of an offer for sale (OFS) of 7.44 million equity shares, with no fresh issue component.
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Pushp Brand (India) Pvt Ltd, the parent company of spice brand Pushp Masale, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO).
According to the DRHP, the proposed IPO will consist entirely of an offer for sale (OFS) of 7.44 million equity shares, with no fresh issue component.
Existing investors A91 Partners and Sixth Sense Ventures plan to offload 4.22 million and 1.54 million shares, respectively. Promoters Mahendra Kumar Surana and Surendra Kumar Surana will also sell 8.4 lakh shares each as part of the offering.
The total issue size is reportedly expected to be around INR 1,000 crore. ICICI Securities, IIFL Capital, and Systematix Group have been appointed as merchant bankers for the issue, while KFin Technologies will act as the registrar.
Founded in 1974 and headquartered in Indore, Pushp manufactures and sells a wide range of spices and food products under the ‘Pushp’ brand. Its portfolio includes whole spices, blended spices, hing, and other cooking essentials, distributed through retail, wholesale, and online channels across India.
The company offers 312 stock-keeping units (SKUs), including 129 in pure spices and 173 in blended spices. It has raised around USD 28 million (INR 225 crore) across two funding rounds. In FY26, operating revenue rose 19% to INR 482 crore, while profit increased over 28% to INR 59 crore.
Pushp competes with established players such as Everest, MDH, Orkla India, Aachi, and Sakthi Masala.
Pushp Brand (India) Pvt Ltd, the parent company of spice brand Pushp Masale, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO).
According to the DRHP, the proposed IPO will consist entirely of an offer for sale (OFS) of 7.44 million equity shares, with no fresh issue component.
Existing investors A91 Partners and Sixth Sense Ventures plan to offload 4.22 million and 1.54 million shares, respectively. Promoters Mahendra Kumar Surana and Surendra Kumar Surana will also sell 8.4 lakh shares each as part of the offering.
The total issue size is reportedly expected to be around INR 1,000 crore. ICICI Securities, IIFL Capital, and Systematix Group have been appointed as merchant bankers for the issue, while KFin Technologies will act as the registrar.
Founded in 1974 and headquartered in Indore, Pushp manufactures and sells a wide range of spices and food products under the ‘Pushp’ brand. Its portfolio includes whole spices, blended spices, hing, and other cooking essentials, distributed through retail, wholesale, and online channels across India.
The company offers 312 stock-keeping units (SKUs), including 129 in pure spices and 173 in blended spices. It has raised around USD 28 million (INR 225 crore) across two funding rounds. In FY26, operating revenue rose 19% to INR 482 crore, while profit increased over 28% to INR 59 crore.
Pushp competes with established players such as Everest, MDH, Orkla India, Aachi, and Sakthi Masala.
