Pushp Brand (India) has filed its draft red herring prospectus with SEBI, taking the first formal step towards listing on both NSE and BSE. 

No new shares are being issued. Every share on offer belongs to existing investors and promoters looking to exit. The IPO is entirely an offer for sale of up to 74.45 lakh equity shares. That means the company itself gets nothing from the listing. 

The money raised goes directly to the sellers. Promoters Mahendra Kumar Surana and Surendra Kumar Surana are each offloading 8.4 lakh shares. Private equity firm A91 Emerging Fund I LLP, which currently holds a 20.14% stake, is selling 42.2 lakh shares. 

Sixth Sense India Opportunities III, holding 7.81%, is selling 15.45 lakh shares. Founded in 1974, Pushp Brand makes packaged spices and food products sold under the ‘Pushp’ and ‘Munimji’ brand names. 

Its range covers everything from mirchi powder and turmeric to hing, blended masalas, elaichi chai and soya chunks.  Products are available across 24 states and union territories, with the strongest base in Madhya Pradesh, Rajasthan and Chhattisgarh. 

The company claims a 20.7% value market share in MP’s packaged spices segment and says it is the largest brand in packaged hing in the state, with a 58% share.

The financials back the growth story. Revenue climbed 19.1% to Rs 481.9 crore in FY26, up from Rs 404.6 crore the year before. 

Profit grew even faster at 28.6%, rising to Rs 59 crore from Rs 45.9 crore. The company also said its revenue grew at a CAGR of 21.3% between FY21 and FY25, putting it among the faster-growing names in organised packaged spices.

ICICI Securities, IIFL Capital Services and Systematix Corporate Services are managing the issue. KFin Technologies will serve as registrar.

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