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<ul><li><keyword id="3323332" type="General" weightage="20" keywordseo="id-fresh" source="Orion">ID Fresh</keyword> has granted ₹300 crore worth of ESOPs in the last six years.</li><li>Nearly half of these options have been offered to the junior management.</li><li>About 80% of its workforce comes from rural regions of India.</li></ul>Homegrown 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 <keyword id="2577790" type="General" weightage="20" keywordseo="id-fresh-food" source="Orion">iD Fresh Food</keyword>, said in a statement. 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 <a href="https://www.crunchbase.com/organization/id-fresh-food/company_financials">$100 million </a>to date and is backed by Premji Invest, NewQuest Capital Partners and Sequoia Capital. It is said to be valued over <a href="https://www.techinasia.com/indian-food-startup-id-fresh-food-served-68m-fresh-funds#:~:text=The%20latest%20funding%20takes%20iD,batter%2C%20breads%2C%20and%20curd.">$260 million</a>, 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. SEE ALSO <a href="https://www.businessinsider.in/retail/news/your-acs-fridge-and-washing-machines-may-get-cheaper-soon/articleshow/92698315.cms">Your ACs, fridge and washing machines may get cheaper soon</a> <a href="https://www.businessinsider.in/business/corporates/news/indias-biggest-companies-spend-nearly-11-lakh-crore-on-employee-expense-last-year/articleshow/92690317.cms" data-type="tilCustomLink">If you thought techies got the biggest hikes last year, think again...</a> <a href="https://www.businessinsider.in/business/news/no-service-charge-on-restaurant-bill-will-impact-waiters-servers-kitchen-staff/articleshow/92668785.cms">Remember to tip your waiter, there is no more service charge on your bill</a>

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

<ul><li>A dosa-making tava and relaunch of chapati -- <keyword id="2577790" type="General" weightage="20" keywordseo="id-fresh-food" source="Orion">iD fresh food</keyword> has an aggressive expansion plan for this year.</li><li>iD <keyword id="132468" type="General" weightage="20" keywordseo="fresh-food" source="Orion">Fresh Food</keyword> also announced its seventh round of ESOP worth ₹46 crore earlier this week.</li><li>The Bengaluru-based food brand will be leveraging its expanded portfolio and tapping new markets to drive up growth as it targets revenue of ₹700 cr this year and ₹1000 cr next year.</li></ul>iD Fresh Food, the consumer brand known for <keyword id="8757103" type="General" weightage="20" keywordseo="idli-and-dosa" source="Orion">idli and dosa</keyword> batters, is looking at expanding its product portfolio aggressively by launching new products and relaunching an old one in India and across the world. It is planning to relaunch its chapati brand, as P.C. Musthafa, co-founder of iD Fresh Food, believes that they haven’t been at par with the company’s standards. “We're relaunching chapati as it was not a great product from iD, to be frank. I know I'm talking against my brand itself. It was not a super product like other products. Over the last 3-4 years, we worked on it, and managed to launch a great chapati in the UAE market,” Musthafa told Business Insider India. After the relaunch of <keyword id="14445056" type="General" weightage="20" keywordseo="chapatis" source="Orion">chapatis</keyword> in the UAE, iD Fresh Food has tripled its revenue in the west Asian market. It is now relaunching chapatis in the Indian market and Musthafa is confident that it will be a game changer. Its strongest markets are Bengaluru, Dubai, Mumbai, Hyderabad, Chennai, Delhi and Kolkata. It is now working on strengthening its presence in Tier II markets. Bangalore-based iD Fresh Food is also launching a dosa-making tava this quarter, after seeing a good response for its prototype last year. “We have orders for the next one year of production,” said Musthafa. Pandemic gave a push to ready-to-eat market The pandemic saw swathes of Indians <a href="https://www.business-standard.com/article/companies/stay-at-home-consumers-push-ready-to-eat-sales-segment-may-double-in-2-yrs-120082001800_1.html">switch </a>to ready-to-eat (RTE) and ready-to-cook (RTC) brands, as they sought convenient options to ease their burden during the long stay-at-home and work-from-home periods. As per market research firm <a href="https://www.statista.com/outlook/cmo/food/convenience-food/ready-to-eat-meals/india">Statista</a>, RTE market in India amounted to $50.15 billion in 2021 and is expected to grow annually by 9.59% CAGR and become a $90 billion market by 2027. Apart from convenience, iD Fresh Food offered another unique selling proposition (USP) to these consumers. Their products were healthier and cleaner - or free from artificial additives or preservatives. So, it was during the peak of the pandemic that iD Fresh Food started adding new customers as more and more people were willing to spend a premium on healthy products and increased convenience. “During the pandemic, we managed to add some new customers who were not willing to try our products earlier. They became even more health-conscious (due to the pandemic),” shared Musthafa. Becoming a ₹1000 cr company Founded by P.C. Musthafa, Abdul Naser and his brothers in 2005, iD Fresh Food is currently valued at ₹2000 crore. Premji Invest and NewQuest Capital Partners are investors in the company. Home-grown brand iD fresh Food will leverage its expanded portfolio and tap new markets to accelerate growth as it targets revenue of ₹1000 crore for the next year. “This fiscal, we are looking at a ₹700 crore revenue target. With the current run rate, we should be able to cross our ₹700 crore target. If we are able to, then ₹1000 crore should be our target for the next year,” said Musthafa. It reported a 47% growth in the quarter ending June 2022. iD Fresh Food also announced its seventh round of <a href="https://www.businessinsider.in/business/startups/news/id-fresh-offers-stock-options-to-another-27-employees-aims-to-create-100-crorepatis-in-the-next-three-years/articleshow/92722488.cms" data-type="tilCustomLink">ESOPs </a>(employee stock option plan) worth ₹46 crore earlier this week, which Musthafa says, is not generous but just what their employees deserve. “They are the people who built the brand, not me. They have supported me during the most difficult times, even when we were not able to pay salaries on time, they did stand by us and supported us. So far, we have given away ESOPs to 73 employees and its total worth is around ₹300 crore. Our dream is to make <a href="https://www.businessinsider.in/business/startups/news/id-fresh-offers-stock-options-to-another-27-employees-aims-to-create-100-crorepatis-in-the-next-three-years/articleshow/92722488.cms" data-type="tilCustomLink">100 crorepatis</a> totally in the next two years [in our company],” said Musthafa.

ID Fresh Food is looking at better growth with batter, chapatis and tavas

<ul><li>The online insurance broker’s stock tanked by around 12% as CEO Yashish Dahiya plans to sell up to 37.69 lakh lakh equity shares.</li><li>Dahiya holds 5.45% stake or 2.45 crore shares in the company.</li><li>Investor sentiment took a huge hit after the company announced that the CEO itself is selling stake amid difficult market conditions.</li></ul>Shares of PB Fintech, the parent company of <keyword id="696009" type="General" weightage="20" keywordseo="Policybazaar" source="Orion">PolicyBazaar</keyword> and PaisaBazaar, took a deep dive after the company’s CEO sold his shares. The company informed exchanges at around 10 pm on June 6 that Yashish Dahiya, chairman and CEO of PB Fintech will sell up to 37 lakh equity shares via bulk deals. Since then, the stock went down by over 12% and its marketcap shrunk by around ₹3,000 crore or around $400 million since yesterday’ close, as per NSE data. Before the sale, Dahiya held a 5.45% stake in the company, which he received as ESOPs. Dahiya however would be selling his stake at a price lower than the company’s founders. In February, the co-founder of the company Alok Bansal sold 2.85 million shares for ₹236 crore at an average price of ₹825 apiece. In 2022 so far, the stock has slid 52% and is currently 40% below its IPO price. PolicyBazaar raised ₹5,709 crore via IPO in November 2021 which included fresh issue as well as offer for sale by promoters. Policybazaar is among the slew of tech companies that got listed in 2021 -- Zomato, Paytm and Nykaa. Unlike most of the companies that listed this year, PolicyBazaar’s investors enjoyed good listing gains of 17% on the issue price. PB Fintech’s business model to enjoy higher growth than other insurance players Analysts however believe the company is well placed to benefit from the rising insurance penetration in India, especially via digital distribution. “High growth, operating leverage, strong balance sheet and established brand recall among the Indian populace are its key business moats. This should help the company generate strong free cash flows as we expect its cost-to-income ratio to plateau ahead,” said a report by ICICI Securities. The brokerage expects the share price to grow to ₹940 per share. In FY20, PolicyBazaar was India’s largest digital insurance marketplace with 93% market share in terms of the number of policies sold. Also, 65% of all digital insurance sales in India in FY20 happened via PolicyBazaar. PolicyBazaar is largely into individual life insurance, retail health and motor insurance. This reflects in its overall revenues that doubled in three years between FY19 to FY21 at ₹606.9 crore. PolicyBazaar and PaisaBazaar platforms have large networks that provide consumers with the ability to browse financial service products offered by 51 insurer partners and 54 lending partners. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/corporates/news/paytm-could-be-entering-a-low-cost-high-profit-margin-regime-say-a-brokerage-firm/articleshow/92054964.cms">PayTM could be entering a low cost-high profit margin regime, say a brokerage firm</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/retail/e-commerce/news/tataneu-could-be-worth-15-billion-all-thanks-to-bigbasket-croma-and-westside/articleshow/92052094.cms">TataNeu could be worth $15 billion all thanks to BigBasket, Croma and Westside</a>

Policybazaar’s value shrinks by around $400 mn in a day after its CEO sells shares

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

Kritti Bhalla

ID Fresh Food is looking at better growth with batter, chapatis and tavas

Karuna Sharma

Policybazaar’s value shrinks by around $400 mn in a day after its CEO sells shares

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