ID Fresh offers stock options to another 27 employees, aims to create 100 crorepatis in the next three years
Image by mcthrissur from Pixabay
ID Freshhas granted ₹300 crore worth of ESOPs in the last six years.
- Nearly half of these options have been offered to the junior management.
- About 80% of its workforce comes from rural regions of India.
AdvertisementHomegrown fresh food brand ID Fresh on Thursday announced its seventh round of employee stock option plan (ESOP) tranche for 27 employees. The company has granted ₹300 crore worth of ESOPs in the last six years.
The company claims that these ESOPs have been distributed across functions and job roles. Nearly half of them are offered to the junior management, which also includes service staff.
“Our aspiration is to help create a minimum of 100 crorepatis in the next three years by offering high-value shares at Rs 10/share and attract best talent from the market and retain/reward the existing ones,” PC Musthafa, co-founder and CEO of
Founded in 2005, ID Fresh Food is a Bengaluru-based company that sells food products — like idly and dosa batter, parotas, chapatis, curd and paneer — across more than 45 cities in India, US and UAE. It claims that the company provides 89,000 kgs of idly/dosa batter per day. The brand is available in more than 30,000 outlets in India.
The company has raised close to $100 million to date and is backed by Premji Invest, NewQuest Capital Partners and Sequoia Capital. It is said to be valued over $260 million, as per media reports.
It employs 1,500 people. “Over 80% of our employees are from rural India who undergo various skill training programmes at iD including soft skills, effective communication, skills to augment selling etc. This is something that I’m personally involved in and committed to, as I believe, India’s next phase of growth can happen only if we empower the rural youth and provide them with equitable opportunities,” Musthafa added.
ID Fresh generated a revenue of ₹294 crore in FY21, as compared to ₹238 crore in the previous year.
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