Upsurge India led a secondary transaction worth over ₹50 crore in iD Fresh Food. Triumph Global Fund and White Whale Ventures co-led the deal. The transaction transferred roughly 1% equity and allowed Blue Ashva Capital to exit.
Transaction details
The deal covered Blue Ashva Capital's entire stake in the fresh-food brand. Upsurge India originated and led the negotiation of commercial terms. Competing institutional buyers showed interest, but Upsurge secured the block.
Company growth
iD Fresh Food was founded in Bengaluru in 2005. It sells preservative-free ready-to-cook items like idli and dosa batter. Revenue climbed from ₹558 crore in FY24 to over ₹870 crore in FY26.
What the company does
The company has expanded into Indian breads, chutneys, and select dairy products. It relies on its own manufacturing and refrigerated distribution network. The company claims a 60% to 65% market share in India and the Gulf region.
Earlier in 2026, Apax acquired a significant minority stake. That deal was reportedly worth ₹1,500 crore at an implied valuation near ₹4,400 crore. iD Fresh has also indicated late 2027 as a target for a public listing.