Khaitan & Co Advised Kedaara Capital On CCI Approval For Investment In Porter
Khaitan & Co advised and assisted Kedaara Capital Investment Managers Ltd (through its Acquirers) in procuring unconditional approval from the Competition Commission of India for its financial investment in Porter. The transaction involved a minority investment of under 10% through a mix of primary and secondary by the Kedaara Group in Porter for a total consideration of approximately USD 112.70 million.
The growth-oriented investment aligns with the Kedaara Group’s strategy of building a diversified portfolio of scalable businesses. With India’s logistics sector showing strong momentum, the investment will help Porter strengthen operations, enhance customer service and support future initiatives. The transaction involved the first detailed assessment of the on-demand road transport segment in India, which remains largely unorganised.
The Acquirers were
(i) Kedaara Sapphire Holding, a Category II Alternative Investment Fund registered with the International Financial Services Centres Authority, and
(ii) Kedaara Capital Fund IV AIF, an Alternative Investment Fund registered with the Securities and Exchange Board of India.
The Khaitan & Co team was led by Anisha Chand (Partner), with support from Alisha Mehra (Principal Associate), Rishabh Vohra (Senior Associate) and Ritika Ghosh (Associate).
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