IPO · Commerce & Consumer Brands

Pushp Brand files DRHP for Rs 800-1,000 crore IPO

What they do

Pushp Brand makes packaged spices and food products under the 'Pushp' brand

It filed a DRHP for an IPO of Rs 800-1,000 crore, entirely an offer for sale (existing shareholders selling shares)

Investors A91 Partners and Sixth Sense Ventures are selling shares; no fresh capital will be raised

Pushp Brand (India) has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
The IPO size is between Rs 800 crore and Rs 1,000 crore.
The entire IPO is an offer for sale (OFS) — existing shareholders will sell their shares, and the company will not receive any new money.
Up to 7.44 million equity shares will be sold in the OFS.
Investor A91 Partners is selling 4.22 million shares in the OFS.
Investor Sixth Sense Ventures is selling 1.54 million shares in the OFS.
Promoters Mahendra Kumar Surana and Surendra Kumar Surana are each selling 840,000 shares (8.4 lakh shares) in the OFS.
The company plans to list on the BSE and NSE.

The IPO is a secondary sale — no fresh capital will be raised for the company.
A91 Partners and Sixth Sense Ventures are exiting partially through the OFS.
The company reported FY26 operating revenue of Rs 482 crore, up 19% year-on-year.
FY26 profit was Rs 59 crore, up more than 28% year-on-year.
The IPO comes as the company competes with large players like Everest Food Products and Mahashian Di Hatti.

Pushp Brand was founded in 1974 and is headquartered in Indore.
It sells packaged spices and food products under the 'Pushp' brand.
Its product portfolio includes pure spices, blended spices, whole spices, hing (asafoetida), western seasonings, quick-fry mixes, soya products, and tea.
The company has 312 stock-keeping units (SKUs) — 129 pure spices and 173 blended spices.
It distributes products through retail outlets, wholesalers, and online channels across 24 states and union territories in India.

The company will list on the BSE and NSE after regulatory approvals.
The IPO proceeds will go entirely to selling shareholders; the company will not receive any funds.

A91 Partners (selling shareholder) — A venture capital firm that invested ~Rs 125 crore in Pushp Brand in 2020. It held a 20.14% stake at the time of the DRHP filing.
Sixth Sense Ventures (selling shareholder) — A venture capital firm that invested ~Rs 101 crore in Pushp Brand in 2023. It held a 7.81% stake at the time of the DRHP filing.