India, Jan. 5 -- Ready to cook (RTC) food retailer iD Fresh announced the raise of a "strategic" investment from London-based private equity (PE) firm Apax Partners for a "significant minority stake" on Monday. The company plans to utilise the fresh capital to enhance its product catalogue as well as expand across new markets in India and abroad.

Besides raising fresh capital, the firm will also acquire stakes from existing shareholders Premji Invest and TPG NewQuest.

"The Apax Funds' investment will allow us to accelerate growth, build capacity, broaden our product range, and scale into more cities and markets," Musthafa said.

While the company didn't disclose the financial terms of the transaction, a report by ET ascertained that the...