Pushp Brand plans Rs 1,000 crore IPO filing by end of May

Spices manufacturer Pushp Brand is preparing to file draft papers for an initial public offering of more than Rs 1,000 crore. The Indore-based company known for its Pushp Masale brand intends a mix of fresh shares and an offer for sale. ICICI Securities and IIFL Capital Services are set to handle the issue.

The company is reportedly readying its draft red herring prospectus for submission before the end of May. This move would mark the firm's entry into public markets with a sizable fundraising target exceeding Rs 1,000 crore.

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More than two dozen issuers in India are preparing to launch initial public offerings next month, aiming to raise around ₹35,000 crore in total.

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Kusumgar is preparing a ₹650 crore offer for sale in its initial public offering. The move will lower the promoter holding to 75.4 percent. The engineered fabrics maker reports strong profit margins relative to listed competitors.

Maharashtra State Electricity Distribution Co has named eight investment banks to handle its planned initial public offering. The move paves the way for the first IPO by the Maharashtra government and any state-run power distributor in India.

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SBI Funds Management has set its initial public offering price band at ₹545 to ₹574 per share. The public issue, structured as an offer for sale, opens for subscription on July 14. The pricing comes at a notable discount to the company's unlisted market value.

 

 

 

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