Pushp Brand (India) Ltd. IPO Details
Pushp Brand (India) was incorporated on May 21, 2020. The company is a branded packaged spices and food player offering a diversified portfolio focused on purity, consistent quality, and authenticity. It is among the fastest-growing spice companies in terms of revenue, with a CAGR of 21.3% from FY21 to FY25, and holds a strong leadership position in Madhya Pradesh, including ~20.7% value market share in spices, ~58% in packaged hing, and ~22.3% in packaged vegetarian spices in FY25
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 7.4 M | - | - | ₹0 | DRHP DOC |
Pushp Brand issue details
Pushp Brand has 7.4 M shares on offer
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
Pushp Brand IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Pushp Brand NUMBER OF SHARES ON OFFER
Pushp Brand FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 481.9 | 59.0 | 19.5 | -49.3 | 17.2% |
| FY25 | 404.6 | 45.9 | 48.6 | 41.3 | 15.9% |
| FY24 | 398.2 | 33.3 | 18.2 | 14.5 | 12.3% |
Pushp Brand INFORMATION ON IPO ISSUE
About Pushp Brand
Pushp Brand (India) was incorporated on May 21, 2020. The company is a branded packaged spices and food player offering a diversified portfolio focused on purity, consistent quality, and authenticity. It is among the fastest-growing spice companies in terms of revenue, with a CAGR of 21.3% from FY21 to FY25, and holds a strong leadership position in Madhya Pradesh, including ~20.7% value market share in spices, ~58% in packaged hing, and ~22.3% in packaged vegetarian spices in FY25
Object of the Issue
- To carry out the offer for sale of up to 7,445,000 equity shares of face value of Rs 5 each by the selling shareholders
- To achieve the benefits of listing the equity shares on the stock exchanges
Pushp Brand - PROMOTERS
| Name |
|---|
| Mahendra Kumar Surana |
| Surendra Kumar Surana |
Pushp Brand - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Mahendra Kumar Surana | Chairman & Managing Director |
| Surendra Kumar Surana | Chief Executive Officer & Whole-Time Director |
| Ruchi Rishiraj Khajanchi | Non-Executive Nominee Director |
| Kasaragod Ullas Kamath | Independent Director |
| Chetan Kumar Mathur | Independent Director |
| Madhulika Katiyar | Independent Director |
Pushp Brand Book Running Lead Manager
ICICI Securities Limited
pushp.ipo@icicisecurities.com
IIFL Capital Services Limited
pushp.ipo@iiflcap.com
Systematix Corporate Services Limited
pushp.ipo@systematixgroup.in
Pushp Brand Registrar to the Offer
KFin Technologies Limited
pushpbrand.ipo@kfintech.com
Pushp Brand Strengths
Diversified & expanding product portfolio
The company offers a comprehensive range of spices and adjacent food products catering to diverse culinary needs across India. Its portfolio includes pure spices (single-ingredient powders and whole spices), blended spices covering traditional, value-added, and western seasonings, as well as quick-fry and sprinkler formats, along with other products such as soya items and tea
Scalable distribution network
The company is a branded packaged spices and food player offering a diversified portfolio focused on purity, consistent quality, and authenticity. It is among the fastest-growing spice companies in terms of revenue, with a CAGR of 21.3% from FY21 to FY25, and holds a strong leadership position in Madhya Pradesh, including ~20.7% value market share in spices, ~58% in packaged hing, and ~22.3% in packaged vegetarian spices in FY25
Strong sourcing capabilities
The company’s supply chain is designed to ensure consistent quality, flexibility, scalability, and resilience while addressing seasonal availability, input price changes, and regional demand, enabling uninterrupted supply across channels. It follows a direct, origin-linked procurement model with a diversified supplier base across key spice-producing regions, aligned with harvest cycles to ensure timely sourcing of quality raw materials at competitive prices while reducing adulteration risks
Pushp Brand Risks
Raw material price volatility risk
The company’s operations are exposed to volatility in the prices and availability of raw and packaging materials, which may impact production costs and overall financial performance. Its manufacturing depends on a wide range of inputs, including spices, edible ingredients, tea, and additives sourced through an origin-linked model across India, with hing partially imported, along with packaging materials such as laminates, pouches, containers, boxes, and labels procured from third-party suppliers
Regulatory risks
The company operates under extensive food safety, packaging, health, safety, employment, and environmental regulations, and any non-compliance or regulatory changes may adversely impact its business, financial condition, and results of operations. It is governed by FSSAI and applicable Indian food laws, including the Food Safety and Standards Act, 2006 and related regulations on licensing, product standards, additives, packaging, and labelling, where non-compliance may lead to penalties, product recalls, licence suspension, or operational disruptions
Storage & handling risks
Any contamination, spoilage, mislabelling, or improper handling of products or raw materials may lead to regulatory action, reputational damage, and adverse impacts on the company’s financial performance. The company operates in an industry exposed to food safety risks such as adulteration, cross-contamination, spoilage, infestation, and labelling errors, and while it follows robust quality controls including inspections, in-process checks, batch traceability, in-house testing, and certified systems (ISO 9001, ISO 22000, HACCP), it cannot fully guarantee that such measures will always prevent failures or ensure error-free outcomes
IPO FAQs
The promoters of the company are Mahendra Kumar Surana and Surendra Kumar Surana.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.