IPO-bound Ola Electric appoints Topsy Mathew as Head Of Corporate Finance

India's EV maker Ola Electric has filled a key position ahead of its highly anticipated IPO next year by appointing Topsy Mathew as the head of corporate finance and treasury.

The position had been vacant for over a year, heightening the significance of this announcement. Mathew, who will report directly to the company's CFO, Arun Kumar GR, will oversee financial operations.

Mathew brings a wealth of experience to the role, having previously held high-level positions at Standard Chartered, Credit Suisse, PCCW, and the Boston Consulting Group. He is also the founder of Golden Mean Capital, an alternative asset management firm in Mumbai.

In addition to Mathew's appointment, Ola Electric has promoted Amit Anchal, the chief of group strategy and corporate finance, to a board member position, underscoring the company's commitment to strengthening its leadership team.

Further changes include YS Kim taking charge of sales, direct-to-consumer initiatives, and Ola's charging network. Meanwhile, Vinay Bhopatkar, the current sales head, is set to depart in September 2022.

As part of its IPO preparations, Ola Electric is in talks with Goldman Sachs, Kotak, Citi, and Axis Bank for underwriting support. The company aims to raise a substantial USD 10 billion and intends to file its draft red herring prospectus by the end of the next quarter.

With Topsy Mathew's appointment and strategic team realignments, Ola Electric is gaining momentum on its transformative journey toward going public. The industry eagerly anticipates the future of electric mobility under the company's leadership.

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