Pushp Brand Files Rs 800-1000 Crore IPO as A91, Sixth Sense Trim Stakes
Updated
Updated · The Ken · Jun 16
Pushp Brand Files Rs 800-1000 Crore IPO as A91, Sixth Sense Trim Stakes
3 articles · Updated · The Ken · Jun 16
Summary
Pushp Brand has filed draft papers with Sebi for a Rs 800-1000 crore IPO, with the listing targeted around October after expected approval in three to four weeks.
The issue is entirely an offer for sale, letting promoters and existing investors sell shares rather than raising fresh capital for the Indore-based spice maker.
A91 Partners is set to realize about Rs 450 crore and cut its stake to 5.13% from 20.14%, while Sixth Sense may cash out roughly Rs 165 crore and fall to 2.31% from 7.81%.
Pushp’s appeal to investors rests on a traditional, kirana-led spices business—96% of sales come from spices and about 95% of those sales from neighborhood stores.
That old-school model has still delivered 20-25% annual growth and 15-20% Ebitda margins, fitting a broader investor hunt for durable regional consumer brands.