iD Fresh Food Receives Strategic Investment from Apax Partners
Mon Jan 05 2026
iD Fresh Food, India’s leading ready-to-cook foods company, has received a strategic investment from London-based private equity firm Apax Partners, marking one of Apax’s first pure-play consumer investments in India.
While the company has not officially disclosed deal terms, media reports suggest Apax Partners is investing around ₹1,300 crore for a 25% stake, valuing iD Fresh Food at approximately ₹4,500 crore. As part of the transaction, Apax is also acquiring secondary shares from existing investors Premji Invest and TPG NewQuest.
Fueling the Next Phase of Growth
Commenting on the partnership, PC Musthafa, Founder & CEO of iD Fresh Food, said the investment would help accelerate the company’s expansion ambitions.
“The Apax Funds’ investment will allow us to accelerate growth, build capacity, broaden our product range, and scale into more cities and markets.”
The capital is expected to be deployed toward:
- Expanding manufacturing capacity
- Strengthening distribution and cold-chain infrastructure
- Entering new cities and international markets
- Accelerating new product development
From Idli Batter to a National Food Brand
Founded in 2005 by PC Musthafa along with his cousins Abdul Nazer, Shamsudeen TK, Jafar, and Noushad TA, iD Fresh began with a simple mission: deliver fresh, preservative-free idli and dosa batter made using traditional methods.
Over the past two decades, the company has steadily evolved into a diversified ready-to-cook and fresh foods brand, expanding well beyond its South Indian roots.
Today, iD Fresh’s portfolio includes:
- Idli and dosa batter
- Whole-wheat parathas and frozen Indian flatbreads
- Curd and paneer
- Instant filter coffee and coffee powder
- Pancake mixes
- Frozen fruit pulp
- Chutneys
This expansion reflects growing consumer demand for clean-label, convenient, and home-style food options.
Strong Financial Turnaround
iD Fresh has also demonstrated a notable financial turnaround in recent years.
- FY24: Turned profitable with a net profit of ₹1.84 crore, compared to a loss of ₹23.3 crore in FY23
- FY25:
- Profit before tax rose to ₹26.7 crore
- Operating revenue crossed ₹600 crore
- Total revenue grew 22.3% YoY to ₹688.22 crore, up from ₹562.85 crore
The improved performance underscores stronger unit economics, better scale efficiencies, and disciplined expansion.
Backed by Leading Global Investors
Before Apax’s entry, iD Fresh had raised over $99 million from a strong roster of investors, including:
- Peak XV Partners (formerly Sequoia Capital India)
- Helion Venture Partners
- Premji Invest
- TPG NewQuest
Apax’s investment represents a new phase, bringing deep global experience in scaling consumer brands and operational excellence.
Why Apax Is Betting on iD Fresh
Apax Partners is known for backing scalable, category-defining businesses globally. Its investment in iD Fresh signals confidence in:
- India’s fast-growing branded fresh and ready-to-cook food market
- iD Fresh’s strong brand trust and distribution moat
- Rising urban demand for convenience without compromise on quality
The deal also reflects growing private equity interest in profitable, founder-led Indian consumer brands.
Looking Ahead
With Apax Partners on board, iD Fresh is entering a new growth chapter focused on:
- National and international scale-up
- Deeper product innovation
- Strengthening manufacturing and supply-chain resilience
As Indian households increasingly shift toward convenient yet clean and authentic food solutions, iD Fresh is well-positioned to consolidate its leadership in the ready-to-cook segment.
Final Takeaway
The strategic investment from Apax Partners marks a defining moment for iD Fresh Food — validating its journey from a humble idli batter startup to a profitable, scaled consumer brand.
With strong financial momentum, a trusted brand, and a global private equity partner, iD Fresh is poised to become one of India’s most enduring food brands in the years ahead.
Mon Jan 05 2026
