Pushp Model (India), the guardian firm of spice maker Pushp Masale, has filed draft papers with India’s market regulator for an preliminary public providing (IPO) anticipated to lift about Rs 800 crore to Rs 1,000 crore.

In accordance with the DRHP filed with the SEBI, the proposed IPO will consist totally of a proposal on the market (OFS) of as much as 7.44 million fairness shares, with no recent concern part.

Below the OFS, current buyers A91 Companions and Sixth Sense Ventures will promote a part of their holdings, alongside promoters Mahendra Kumar Surana and Surendra Kumar Surana.

A91 Companions plans to dump 4.22 million shares, whereas Sixth Sense Ventures will promote 1.54 million shares. The 2 promoters will every divest 840,000 shares.

Based in 1974 and primarily based in Indore, Pushp Model manufactures and sells packaged spices and meals merchandise beneath the “Pushp” label. Its portfolio contains pure spices, blended spices, entire spices, hing, western seasonings, quick-fry mixes, soya merchandise and tea.

The corporate mentioned it had 312 stock-keeping models (SKUs) throughout classes, together with 129 SKUs in pure spices and 173 in blended spices, reflecting continued growth of its product vary. Its merchandise are distributed by shops, wholesalers and on-line channels in 24 states and union territories.

Pushp Model has seen funding and secondary transactions totaling about Rs 225 crore involving A91 Companions and Sixth Sense Ventures, together with A91 Companions’ funding of round Rs 125 crore in 2020 and Sixth Sense Ventures’ buy of a stake price practically Rs 101 crore in 2023.

On the time of submitting, A91 Companions held a 20.14% stake within the firm, whereas Sixth Sense Ventures owned 7.81%. Each buyers are partially exiting by the share sale.

The corporate reported working income of Rs 482 crore in FY26, up 19% year-on-year, whereas revenue rose greater than 28% to Rs 59 crore.

The corporate competes with established packaged spice makers together with Everest Meals Merchandise, Mahashian Di Hatti, Orkla India, Badshah Masala, Shubham Goldiee Masala, Aachi Masala Meals and Sakthi Masala.

The corporate’s shares are proposed to be listed on the BSE and the NSE. ICICI Securities, IIFL Capital Providers and Systematix Company Providers are the book-running lead managers for the difficulty, whereas KFin Applied sciences will act as registrar.