"Shocking News: CFO Karthik Gupta Steps Down, Ola Faces Uncertain Future!"

Changes in Leadership at Ola Cabs

Karthik Gupta has resigned as chief financial officer of Ola Cabs and Ola Financial Services, led by Bhavish Aggarwal. Gupta's departure, just six months into his role, follows Hemant Bakshi's resignation as CEO of Ola Cabs, less than a year after joining the company. These departures coincide with Ola Cabs and Ola Electric's plans to go public.

Restructuring at Ola

Ola Mobility CFO Karthik Gupta's resignation is part of an ongoing restructuring aimed at improving productivity in the cab-hailing industry, driven by artificial intelligence. The restructuring aims to streamline costs, drive growth, and boost profitability.

Company Announcements

Hemant Bakshi's appointment in September 2023 was officially announced in January. Bhavish Aggarwal informed employees in April of plans to reduce the workforce by 10% to enhance profitability and prepare for future growth. Ola recently ceased operations in New Zealand, Australia, and the UK to focus on expanding its electric fleet in India.

Public Listing Plans

Ola Cabs is gearing up for a $500 million public listing, potentially valuing the company at $5 billion. The company aims to achieve profitability for two consecutive quarters before filing for IPO.

Ola Electric's Progress

Ola Electric is close to securing anchor investors for its IPO, with a focus on its advanced battery technology. Singapore-based Eastspring and UK-based Pictet have expressed interest in participating as anchor investors.