Indore-based spices maker ‘Pushp Masale’ gears up for stock market debut amid buoyant primary market activity
- IPO Size
- Fresh issue + OFS mix
- Filing Timeline
Spices manufacturer Pushp Brand (India), the Indore-based company behind the popular Pushp Masale brand, is set to file draft red herring prospectus (DRHP) papers for an initial public offering (IPO) worth over ₹1,000 crore by the last week of May, according to sources familiar with the development.
The proposed issue is structured as a combination of a fresh equity issuance and an offer for sale (OFS), allowing existing shareholders to partially exit alongside the company raising new capital for expansion.
Pushp Brand’s closest listed peer is Orkla India — the Norwegian-owned parent of MTR Masala — which raised ₹1,667 crore through its IPO in October 2025 and currently carries a market capitalisation of around ₹8,671 crore. Orkla India is expected to serve as a key benchmark for investors evaluating the packaged spices segment.
