Pushp Brand files DRHP for OFS-only IPO; FY26 revenue hits Rs 482 cr with 20.7% MP spices share
Indore-based masala maker Pushp Brand filed DRHP with SEBI for a pure OFS of 74.45 lakh shares by promoters and PE backers A91 (20.14%) and Sixth Sense (7.81%). FY26 revenue Rs 481.94 cr, PAT Rs 58.95 cr, EBITDA Rs 84.19 cr at 43.75% blended spice margin. Commands 20.7% MP spices and 58% MP hing share across 3.68 lakh retail touchpoints.
What happened
Pushp Brand (India) · Indore-based masala maker Pushp Brand filed DRHP with SEBI for an IPO entirely as an OFS of 74.45 lakh shares by promoters and investors
Key facts
- 7,445,000 equity shares OFS
- A91 stake 20.14%
- Sixth Sense stake 7.81%
- 20.7% MP spices market share FY25
- 58% MP hing share
- 312 SKUs
- 1,016 distributors
- 3.68 lakh retail touchpoints
- 103 modern trade stores
- 60,000 MT capacity
- Revenue Rs 481.94 cr FY26
- PAT Rs 58.95 cr
- EBITDA Rs 84.19 cr
- blended spice margin 43.75% FY26
Why this matters
Pushp's regional moat (20.7% MP spices) makes it a credible bolt-on target for national FMCG players seeking instant central-India distribution if public-market pricing disappoints.