According to a media reports, Ola Electric has appointed Topsy Mathew as the head of corporate finance and treasury, who will play an important in the company's IPO next year.
The position had been empty for over a year before the news broke. According to the report, Mathew will handle the company's finance operations and report to Arun Kumar GR, the company's chief financial officer.
Mathew formerly worked at Standard Chartered as the Managing Director and Regional Head of Mergers & Acquisitions for the South Asia area. He has also previously worked with Credit Suisse, PCCW, and the Boston Consulting Group.
He founded Golden Mean Capital, an alternative asset management firm based in Mumbai, in January 2021. Amit Anchal, the company's chief of group strategy and corporate finance, has been promoted to board member, according to media sources.
YS Kim will be in charge of sales, direct-to-consumer (D2C), and Ola's charging network. Vinay Bhopatkar, who was in charge of sales, will leave in September 2022. The changes come as Ola Electric prepares for its initial public offering (IPO) in 2024.
The company has began conversations with Goldman Sachs, Kotak, Citi, and Axis Bank to help underwrite its IPO. Ola Electric intends to raise USD 10 billion in the IPO and will most likely file its draft red herring prospectus by the end of the next quarter.