Pushp Brand gets IPO nod; A91 Partners, Sixth Sense to partially divest stake
The two VC firms - A91 Partners and Sixth Sense had invested in Pusph Brand in 2020 and 2023 respectively.
India's packaged spices company Pushp Brand has received authorization from the Securities and Exchange Board of India (Sebi) to conduct an initial public offering (IPO). The IPO is an Offer for Sale, permitting existing shareholders to partially divest their equity stakes. Surendra Kumar Surana and Mahendra Kumar Surana, as well as investor entities A91 Emerging Fund I LLP and Sixth Sense India Opportunities III, are among the shareholders planning to relinquish a portion of their holdings.
A91 Emerging Fund I, which invested Rs 125 crore in 2020, will sell a reduced stake, while Sixth Sense India Opportunities III, having invested around Rs 101 crore in 2023, will also undergo a partial stake sale. Pushp Brand, founded in Indore in 1974, has evolved from a regional spices business into a packaged food company with a diverse portfolio of pure and blended spices, whole spices, and hing products.
The company currently operates under the Pushp and Munimji brand names and maintains an extensive distribution network spanning 24 states and Union Territories, comprising 1,016 distributors and more than 3.68 lakh retail outlets.
Written by urgent.news from YourStory's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
