In a major development for India’s ready-to-cook food sector, iD Fresh Food has received a strategic investment from London-based private equity giant Apax Partners, which will acquire a significant minority stake in the Bengaluru-headquartered brand. This marks one of Apax’s first dedicated consumer investments in India and signals strong confidence in the country’s fast-growing packaged foods market.
Although iD Fresh has not officially disclosed the financial details, media reports indicate that Apax Partners will invest approximately ₹1,300 crore for a 25% stake, valuing the company at around ₹4,500 crore. As part of the transaction, Apax will also purchase secondary shares from existing backers Premji Invest and TPG NewQuest.
Founder and CEO PC Musthafa said the capital infusion will significantly boost the company’s growth momentum.
“The Apax Funds’ investment will allow us to accelerate growth, build capacity, broaden our product range, and scale into more cities and markets,” Musthafa noted.
A Homegrown Success Story
Founded in 2005 by Musthafa and his cousins Abdul Nazer, Shamsudeen TK, Jafar, and Noushad TA, iD Fresh Food built its brand on preservative-free, home-style idli and dosa batter, a category it pioneered in modern retail. The brand has since expanded into a diverse portfolio, including:
- Frozen Indian flatbreads
- Whole-wheat parathas
- Curd and paneer
- Instant filter coffee and coffee powder
- Frozen fruit pulp
- Pancake mixes
- Chutneys and value-added food products
The expansion helped the brand extend its reach beyond South India into major metropolitan markets across the country and select international regions.
Financial Turnaround and Strong Growth
iD Fresh Food’s financial performance has strengthened significantly over the past two years. After posting a net loss of ₹23.3 crore in FY23, the company returned to profitability in FY24 with a net profit of ₹1.84 crore. The momentum accelerated further in FY25, with:
- Profit before tax: ₹26.7 crore
- Operating revenue: ₹600+ crore
- Total revenue: ₹688.22 crore (up 22.3% from ₹562.85 crore in FY24)
The company has previously raised over $99 million from investors such as Peak XV Partners (formerly Sequoia Capital India), Helion Venture Partners, Premji Invest, and TPG NewQuest.
With fresh capital from Apax Partners and accelerating revenue growth, iD Fresh Food is now positioned to strengthen manufacturing, expand distribution, and innovate within India’s rapidly evolving fresh and ready-to-cook foods category.
📢 Be Aware, We never charge any consultancy fee for jobs.
📲 Foodtech Network WhatsApp Jobs Group
Click to join WhatsApp group
👥Free Membership (For Jobs, Internship and Training)
Membership registration
⚙️ Food Entrepreneurs & Startups (For business owners)
Our services (Free and Paid)
📱 Food safety training and certification.
Download our App, Foodtech Network
