BENGALURU: iD Fresh Food, known for its ready-to-cook products such as idli and dosa batter, plans to go public by October 2027, its chairman & global CEO P C Musthafa said. The Bengaluru-based company is preparing for an IPO as part of its long-term growth strategy. “We should be able to demonstrate growth and ebitda well to our investors by then,” Musthafa told TOI in an interview.
The company plans to close the 2024-25 financial year at Rs 680 crore in total revenue. This marks an increase of Rs 126 crore from the previous year. At earnings before interest, taxes, depreciation and amortisation (ebitda) level, it aims to close the 2024-25 financial year with a margin of 9%, doubling from the corresponding period last year. Future targets include Rs 875 crore in revenue with a 15% ebitda margin in the 2025-26 financial year and Rs 1,100 crore with a 20% margin in the 2026-27 financial year.
iD Fresh Food has raised $119 million from investors such as Premji Invest and NewQuest Capital Partner, according to Tracxn data. The company, founded in 2005, has its largest factory in Bengaluru. Other company-owned factories are in Mumbai, Hyderabad, and the UAE, with one planned in Chennai. In cities such as Visakhapatnam, Kochi, and Kolkata, it partners with third-party manufacturers. “We are setting up a new factory in Hyderabad, with a capex of Rs 25 crore, which we are able to fund from our own profits.”
The company has been expanding its product offerings. This year, it launched a range of chutneys, which reached Rs 1.5 crore in monthly revenue within a year. Its specialty batter range, introduced four months ago, is generating Rs 1 crore per month, while its expanded paratha business is bringing in Rs 50 lakh monthly.
