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ID Fresh offers stock options to an additional 27 employees, aims to create 100 crorepatis in the next three years

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  • ID verse has allocated ₹300 crore to ESOPs for the past six years.
  • Nearly half of these options have been offered to junior management.
  • About 80% of the workforce comes from the rural regions of India.

Homegrown fresh food brand ID Fresh announced the seventh round of its employee stock option plan (ESOP) for 27 employees on Thursday. The company has awarded ₹300 crore to ESOPs for the past six years.

The company claims that these ESOPs are divided into features and functions. Almost half of this is offered to junior management, which also includes service employees.

“Our ambition is to help create a minimum of 100 crorepatis in the next three years by offering high quality stocks at Rs 10/share and attracting the best talent of the market and retaining/rewarding the existing ones”, PC Musthafa, co -founder and CEO of iD Fresh Foodsaid in a statement.

Founded in 2005, ID Fresh Food is a Bengaluru based company that sells food products – such as
unemployed and
dosa seizure,
parotas
chapatiscurd and
paneer — in more than 45 cities in India, the US and the UAE. It claims that the company has 89,000 kg
useless / dosa seizure per day. The brand is available in more than 30,000 outlets in India.

The company has almost
$100 million to date and is backed by Premji Invest, NewQuest Capital Partners and Sequoia Capital. It is said to be overrated
$260 millionaccording to media reports.

1,500 people work there. “Over 80% of our employees are from rural India and at iD undergo various skills training programs including soft skills, effective communication, skills to improve sales, etc. This is something I am personally involved in and “In my opinion, personally for commitment, India’s next growth phase can only happen if we empower the rural youth and give them equal opportunities,” Musthafa added.

ID Fresh generated sales of 294 crore in FY21, compared to ₹238 crore in the previous year.

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