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Upsurge India leads Rs 50 crore secondary transaction in iD Fresh Food; Blue Ashva exits

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Upsurge India leads Rs 50 crore secondary transaction in iD Fresh Food; Blue Ashva exits

Upsurge India leads Rs 50 crore secondary transaction in iD Fresh Food; Blue Ashva exits

Founded in Bengaluru in 2005, iD Fresh Food started with idli and dosa batter and has expanded into Indian breads, chutneys, sambar, batters and value-added dairy products. Its business is supported by manufacturing capabilities and a refrigerated distribution network. The company operates across India and international markets, including the UAE, UK and US.

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Investment and asset management firm Upsurge India has led a secondary transaction worth more than Rs 50 crore in iD Fresh Food , involving the transfer of approximately 1 per cent equity in the Bengaluru-based fresh-food company. The transaction, co-led by Triumph Global Fund and White Whale Ventures, enabled early investor Blue Ashva Capital to exit its investment. Investor demand exceeded the available allocation, according to the parties involved.

Upsurge India originated and led the transaction, negotiating the commercial terms alongside the co-investors and acquiring Blue Ashva Capital's entire shareholding block. BlueCheck Advisors acted as the transaction adviser. The valuation of the secondary deal has not been disclosed. The transaction comes after Apax acquired a significant minority stake in iD Fresh earlier in 2026, in a deal reportedly valuing the company at around Rs 4,400 crore.

Founded in Bengaluru in 2005, iD Fresh Food started with idli and dosa batter and has expanded into Indian breads, chutneys, sambar, batters and value-added dairy products.



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