Overview

• Competition Commission of India formally approved Kedaara Sapphire Holding and Kedaara Capital Fund IV AIF’s acquisition of a stake in Porter on July 8, 2025, with a detailed order to follow.
• The deal includes primary capital infusion and secondary share purchases that generated significant liquidity for early investors, highlighted by a Rs 1,200 crore exit by Peak XV Partners.
• SmartShift Logistics Solutions, Porter’s parent, raised $200 million in May at a $1.2 billion valuation in a Series F round co-led by Kedaara Capital and Wellington Management.
• Porter narrowed its net loss by 45% to INR 95.7 crore and boosted operating revenue by 56% to INR 2,733.7 crore in FY24, reflecting improving unit economics.
• Porter intends to deploy the approved funds to expand into new cities, enhance its logistics technology and grow its workforce.