A91 Partners will make an investment of Rs 125 crore in Pushp (Brand) India, an Indore-based spices brand.
A91 Partners' investment in Pushp is the first fund raiser for the company. The capital will be used for expanding and strengthening the company's distribution network, expanding its sales team and enhancing marketing initiatives to strengthen the brand across India.
Pushp sells a range of CTC spices -- coriander, turmeric and chilli powder, other pure spices include hing, cumin powder, dry ginger powder, pepper powder, and blended spices are garam masala, achar masala, chat masala, etc and value-added items such as pachan cool masala, lemon cool masala and Jaljira.
The company recorded a revenue of Rs 165 crore in FY20.
A91 Partners has done the investment from its maiden fund A91 Emerging Fund I, which bas a corpus of USD 351 million.
Systematix Corporate Services and Mahesh C Solanki & Co, acted as advisors to the transaction.