Sanjay Baweja, chief financial officer (CFO) of Tata Communications Ltd, is leaving the company effective November 4, the firm said in a stock market filing. According to separate media reports, Baweja will join home-grown e-commerce major Flipkart.om as its CFO. He will replace interim CFO Kalyan Krishnamurthy to head the finance function at the company.
When contacted, a Flipkart spokesperson told VCCircle that the company will not comment on market speculation.
Flipkart is India’s largest consumer e-commerce company, which recently bagged $1 billion in a fresh funding round co-led by two of its existing investors Tiger Global and Naspers. One of the two sovereign wealth funds of Singapore, GIC, along with other existing investors Accel Partners, DST Global, ICONIQ Capital, Morgan Stanley Investment Management and Sofina, also participated in this latest financing round.
Flipkart recently invested an undisclosed amount in ngpay, a mobile payment gateway platform owned by Bangalore-based JiGrahak Mobility Solutions Pvt Ltd. Flipkart is also shutting down its own payment gateway service PayZippy.
Its finance team was led by Krishnamurthy, director of finance (portfolio companies) at Tiger Global (an investor in Flipkart). He was as the firm’s interim CFO in May last year, replacing Karandeep Singh who had quit in February 2013 after serving just over a year.
(Edited by Joby Puthuparampil Johnson)