Pushp Brand secures SEBI approval for IPO with only OFS component

Packaged spices company Pushp Brand (India) Limited has secured market regulator Securities and Exchange Board of India's approval to raise funds via initial public offering, the market regulator said on Thursday.

The initial share sale is solely an offer for sale (OFS) component of up to 74.45 lakh equity shares by promoters Mahendra Kumar Surana and Surendra Kumar Surana, and investors A91 Emerging Fund I LLP and Sixth Sense India Opportunities III.

As there is no fresh issuance of shares, the company will not get any funds from the issue.

"Our company expects that listing of the equity shares will enhance our visibility and brand image as well as provide a public market for the equity shares in India," the company said in its draft red herring prospectus (DRHP).

The company had filed draft IPO papers in June and received 'final observation' on August 27.

Pushp Brand IPO: Financials

The firm has reserved 50% of the net offer for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

IIFL Capital Services, ICICI Securities and Systematix Corporate Services are the issue's book-running lead managers, while KFin Technologies is the registrar.

Established in Indore in 1974, Pushp Brand (India) Ltd has grown from a regional spices business into a packaged food firm operating under the Pushp and Munimji brands.

The firm offers pure and blended spices, hing, whole spices and other products, with 312 stock keeping units (SKUs) as of March 31, 2026. The firm intends to launch Pushp Kadak Chai in the second quarter of the financial year 2026-27.

As of fiscal year 2026, the company had a distribution network across 24 states and Union Territories, with over 1,000 distributors and more than 3.68 lakh retail touchpoints.