Eyeing an IPO in next 2.5 years: iD Fresh CEO Musthafa

By BD Naraayannkar

Bengaluru, (UNI) Ready-to-cook fresh food brand iD Fresh Food is eyeing an IPO in the next two to two-and-half years.

“We are at Rs 620 crore run rate today with close to 10 percent EBITDA. The plan would be to earn a revenue of Rs 1000 crore in two to two-and-a-half years, with 18 to 20 percent EBITDA. Then do a IPO,” iD Fresh CEO and Co-founder PC Musthafa to a UNI query.

He made these comments at the 43rd Ayaz Peerbhoy Memorial Lecture here on Wednesday

The brand is available in 35,000 retail outlets in 45 cities with a manufacturing capacity of over one lakh kg per day.

Musthafa is also planning to introduce chutney as a new food item in the market soon.

In 2017, Premji Invest infused Rs 170 core in the startup and also acquired a 25 per cent stake into it.

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