Azim Premji invests in Dosa Flour Company ..!

The e-commerce, online pharma, and online grocery range of Ready to Cook segment products are also growing rapidly in the fast-growing sector in India. Azim Premji, former chairman of Wipro, has invested in iD Fresh Food, India's fastest-growing company in the ready-to-cook segment. Like Tata Group's Ratan Tata, Azim Premji has been investing in several start-ups through his own investment company.
ID Fresh Food, a fast-growing company in india, has decided to expand its business not only in india but also in the united states and the United Arab Emirates to attract new investment to introduce new products.Helian Ventures, a major investor in iD Fresh Food, recently sold its investment stake at 10 times the profit. Newcastle capital Partners, Asia's leading private equity firm, and Premji Invest, a private equity firm of Azim Premji, have taken advantage of the opportunity to invest around Rs 507 crore. Asim Premji's PremjiInVest has already invested in this new round of investment while already investing in iD Fresh Food. In this round of investments, iD Fresh Food has raised Rs 507 crore by selling a 5-6 percent stake in Primary capital, along with a 17 percent stake in Helian Ventures valued at Rs 1800 to Rs 2000 crore.
ID, a small company co-founded by PC Mustafa, Abdul Nasser, and his brothers in 2005, has grown into a Rs 500 crore company this year. Starting with Idli-Dosa Flour, iD today owns Malabar Parota, Wheat Parota, Paneer, Yogurt, 'Squeeze and Fry' Wada Flour, Builder coffee Decoction, Sandwich White Bread and Wheat Bread and sells around 30,000 in the United States. In addition, the ready-to-cook business in india is projected to grow from Rs 2,100 crore in 2019 to Rs 4,800 crore in 2024, growing by an average of 18 percent every year.
Thus the growth opportunities for the iD company are very high and at the same time, the competition has increased as many companies including Milky Mist have entered the segment business.
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Sowmiya Sriram

04/01/2022 10:58 PM