Blue Ashva Capital exits iD Fresh Food in 500 million rupee secondary sale
Blue Ashva Capital has divested its entire 1% stake in ready-to-cook food producer iD Fresh Food, fetching 500 million rupees in a secondary market transaction.
The exit saw shares acquired by a consortium led by Upsurge India, alongside Triumph Global Fund and White Whale Ventures. This transaction concludes Blue Ashva Capital’s position in the firm, providing liquidity for the investor’s initial vintage fund.
Satya Bansal, founder and CEO of Blue Ashva Capital, stated that the firm is now pivoting its focus toward deeptech opportunities. The original investment in iD Fresh was driven by the startup’s cold-chain distribution network and preservative-free manufacturing model for staple Indian food products.
iD Fresh has maintained a growth rate between 25% and 30%, with revenues reaching 870 million rupees in FY26. This secondary sale follows a larger institutional capital injection earlier in 2026, when private equity firm Apax acquired a significant stake at a valuation of approximately 4.4 billion rupees.
The company is currently targeting operating revenues of up to 1.2 billion rupees by FY27. Management is actively preparing for an initial public offering, which is expected to include a pre-IPO secondary sale of approximately 1.2 billion rupees.