Pushp Brand Plans Major IPO with Offer for Sale
Pushp Brand, an Indore spice manufacturer, intends to raise Rs 800-1,000 crore through an IPO. The offer for sale includes 74.45 lakh shares from key promoters and investors. The company's shares will be listed on BSE and NSE, reinforcing its market presence alongside key competitors.
Indore's renowned spice manufacturer, Pushp Brand, is taking steps to bolster its financial standing by preparing for a significant initial public offering (IPO). The company has submitted its preliminary documentation to Sebi, aiming to gather between Rs 800 and 1,000 crore through this financial move.
The entire IPO is structured as an offer-for-sale, wherein promoters Mahendra Kumar Surana and Surendra Kumar Surana, along with investment groups like A91 Emerging Fund I LLP and Sixth Sense India Opportunities III, plan to divest a portion of their holdings, amounting to 74.45 lakh equity shares as disclosed in the draft red herring prospectus.
Pushp Brand, known for its comprehensive range of spices from pure to blended forms, positions itself alongside industry stalwarts such as Everest, MDH, Orkla India, and Badshah Masala. Post-IPO, its shares will be traded on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Leading the charge in managing this financial undertaking, ICICI Securities Ltd, IIFL Capital Services, and Systematix Corporate Services have been appointed as the book-running lead managers, promising to navigate this complex transaction smoothly.
(With inputs from agencies.)
- READ MORE ON:
- IPO
- Pushp Brand
- spices
- India
- OFS
- Sebi
- BSE
- NSE
- Suranas
- investment
Google News