iD Fresh Food Rs 50 Crore Secondary Deal Led by Upsurge

Upsurge India has led a secondary transaction worth over Rs 50 crore in iD Fresh Food, transferring about 1% of the company’s equity. The deal let early investor Blue Ashva Capital fully exit, Business of Food reports.

Because the deal is secondary, proceeds go to the selling shareholder, not to iD Fresh Food, and the report does not say how the company will use any funds.

Who invested in the iD Fresh Food secondary deal?

TG Fund and WW Ventures were co-leads, and BlueCheck Advisors acted as transaction advisor. The report says investor demand significantly exceeded the available allocation and that the valuation of this deal is confidential. Blue Ashva Capital sold its entire shareholding block.

How big is iD Fresh Food?

Founded in Bengaluru in 2005, iD Fresh Food started with idli and dosa batter and has expanded into Indian breads, chutneys and select value-added dairy products. The report puts revenue at about Rs 558 crore in FY24, about Rs 681 crore in FY25 and over Rs 870 crore in FY26, with FY26 growth above 25%.

Earlier in 2026, Apax acquired a significant minority stake, with reports cited in the article putting the implied valuation at about Rs 4,400 crore and the transaction size at about Rs 1,500 crore.

Market Reaction and Industry Response

Satyam Goyal, Head of Equities at Upsurge India, said “iD Fresh has done something quite remarkable” and that the firm sees a long growth runway beyond the company’s original categories. Satya Bansal, Founder and CEO of Blue Ashva Capital, said “this exit underscores our commitment to disciplined portfolio management.”

What Happens Next?

The report does not mention an IPO or other fundraising plans, and the valuation of this deal is undisclosed. Transaction inputs cited in the report estimate annual growth of 25-30%.

Frequently Asked Questions

How much was the iD Fresh Food deal worth?

Over Rs 50 crore, for about 1% of the company’s equity, led by Upsurge India.

Who exited iD Fresh Food?

Blue Ashva Capital sold its entire shareholding in the deal.

What was iD Fresh Food’s FY26 revenue?

Over Rs 870 crore, up more than 25% year-on-year, according to the report.

Source: Business of Food, 4 November 2026.