Mumbai: Hailstone The group has made several key leadership appointments in various sectors amid plans to launch an initial public offering (IPO) early next year.

According to a statement released on Tuesday,

• PV Harinarayan has joined Ola Financial Services as Vice President (Lending)
• V Ramesh joins Ola as Head (Operations) at FutureFactory
• Pritesh Mahajan named head of product planning at Ola Electric

The ride-hailing firm has hired at all levels to “build a deep bench strength of talent and leadership pipeline”, the statement said.

“We are ushering in an era of new mobility and continue to attract the best talent from around the world to build it on a large scale,” said. Bhavish Aggarwal, the founder and CEO of Ola’s parent ANI Technologies, “I look forward to collaborating with them to accelerate the world’s transition to sustainable mobility.”

To be sure, Ola Group
have seen a constant churn in its upper echelons over the past few months. First its Chief Financial Officer went to Saurabh himself, followed by Chief Operating Officer Gaurav Porwal and now General Counsel Sandeep Choudhary.

The Bengaluru-based mobility startup has also made a few appointments, including Arun Sirdeshmukh, CEO, Ola Cars, and Vinay Bhopatkar, head of delivery business.

In October, Ola restructured the organization and expanded the roles of some of its top leaders.

IPO Schemes

Hailstone
Finalizing Pre-IPO Financing Round IIFL – likely to be led by Wealth Management and Edelweiss Private Equity – will boost the electric scooter maker’s valuation to $7 billion, three people close to the development told ETTech. IPO
is likely To hit the Indian stock exchange early next year.

“The company (Ola) may raise a mix of primary and secondary capital before filing its IPO draft documents with the market regulator,” said one of the persons with direct knowledge of the plans. The company may raise half the capital in its IPO through a primary issue, while the rest will be through an offer for sale by early backers, another person with knowledge of the matter said.

Investment banks Morgan Stanley, Goldman Sachs, Kotak Mahindra Capital, Citigroup and JP Morgan are assisting Ola in the listing process.

With inputs from PTI.