The Busy Brains
9 Jun 2023
Ola Electric, India's leading EV maker, appoints Topsy Mathew as head of corporate finance and treasury, and promotes Amit Anchal to a board member position.
These strategic changes highlight the company's preparation for its upcoming IPO and reinforce its commitment to leadership development. Learn more about Ola Electric's growth plans.
Ola Electric, the prominent electric vehicle (EV) manufacturer in India, has made significant leadership appointments in preparation for its highly anticipated IPO in the coming year. Topsy Mathew has been appointed as the head of corporate finance and treasury, filling a crucial position that had been vacant for over a year. Mathew, who brings a wealth of experience from his previous roles at renowned organizations such as Standard Chartered, Credit Suisse, PCCW, and the Boston Consulting Group, will directly report to the company's CFO, Arun Kumar GR. In his new role, Mathew will oversee the financial operations of Ola Electric.
Additionally, Amit Anchal, previously the chief of group strategy and corporate finance, has been promoted to a board member position. This promotion emphasizes Ola Electric's commitment to strengthening its leadership team and driving its growth strategy forward.
Further organizational changes include YS Kim assuming responsibility for sales, direct-to-consumer initiatives, and Ola's charging network. Simultaneously, Vinay Bhopatkar, the current sales head, is scheduled to depart in September 2022.
In preparation for its IPO, Ola Electric is in discussions with renowned financial institutions such as Goldman Sachs, Kotak, Citi, and Axis Bank for underwriting support. The company has ambitious plans to raise a substantial USD 10 billion and aims to file its draft red herring prospectus by the end of the next quarter.
With the appointment of Topsy Mathew and strategic realignments within the team, Ola Electric is making significant progress on its transformative journey towards going public. The industry eagerly anticipates the future of electric mobility under the leadership of Ola Electric and its strengthened leadership team.