iD Fresh Food plans to raise $150 mn

D Fresh Food India Pvt. Ltd, the ready-to-cook packaged food company known for its idli and dosa batter, is planning a new fundraising round that may also provide an exit route to some of its early investors, three people aware of the development told VCCircle.

- Debjyoti Roy and Prithvi Durai

The Bengaluru-based company, founded by P.C. Musthafa and his four cousins in 2005, may raise as much as $150 million (about ₹1,280 crore), the people said, asking not to be named. The transaction is likely to involve a mix of primary infusion and secondary share sales, they said. The people didn't reveal which of the company's existing shareholders may exit.