Incorporated in 1996, Madhusudan Masala Limited manufactures over 32 types of spices under the brands "DOUBLE HATHI" and "MAHARAJA" and also offers whole spices, tea, and grocery products like Rajgira flour, Papad, Soya products, Asafoetida, black salt, and rock salt. The company operates two segments: Ground Spices, including Chilli, Turmeric, and Coriander powders, and Blend Spices, including Garam Masala, Tea Masala, Pav Bhaji Masala, Kitchen King Masala, and Chicken Masala. Its manufacturing facility in Hapa, near Jamnagar, is ISO 9001:2015, ISO 22000:2018, HACCP certified, and FSSAI licensed. Madhusudan Masala recorded revenues of ₹12,721.60 Lacs in FY23. The company’s IPO will list on NSE SME.