India’s edtech firm upGrad has appointed Mukesh Mundra as its chief monetary officer, because the agency pushes forward with world growth plans and awaits regulatory approval for its acquisition of Unacademy.

Based mostly in Mumbai, Mundra will oversee upGrad’s finance and administration capabilities, together with monetary technique, governance, enterprise partnering and operational scale-building.

He joins the Ronnie Screwvala-led firm from JioStar, the place he served as head of finance. Earlier than that, he spent greater than eight years as CFO of Viacom18 Media Personal Restricted, main monetary technique and enterprise transformation initiatives.

A chartered accountant and licensed monetary analyst, Mundra brings greater than 26 years of expertise throughout media, telecom, manufacturing and shopper companies.

Earlier in his profession, he held leadership roles at Concept Mobile, the place he labored on the acquisition of Spice Communications and the formation of the Indus Towers three way partnership. He has additionally labored with Grasim Industries and Anand Rathi Group.

Mukesh Mundra stated, “upGrad is at an thrilling stage of progress because it continues to form the way forward for lifelong studying and workforce improvement. The chance to construct financially resilient and scalable techniques whereas supporting innovation and enterprise transformation is extremely thrilling.”

Ronnie Screwvala, co-founder and chairperson of upGrad, stated Mundra’s expertise in finance, governance and enterprise transformation would play “a vital position as we proceed scaling our world operations and strengthening our long-term progress roadmap”.

The appointment comes as upGrad awaits approval from the Competitors Fee of India for its proposed all-stock acquisition of Unacademy, valued at round Rs 2,055 crore ($218 million). The deal represents a big drop from Unacademy’s peak valuation of $3.4 billion in 2021.

upGrad stated the acquisition will assist it broaden into the web take a look at preparation market and broaden choices for present customers. Unacademy can be anticipated to carry money reserves of Rs 900 crore to Rs 950 crore when the transaction closes.

upGrad was reported to have turned worthwhile within the first 11 months of FY26, with provisional and unaudited figures exhibiting a revenue of Rs 38 crore on income of Rs 1,532 crore.

The corporate is projected to shut FY26 with income of round Rs 1,972 crore and revenue above Rs 60 crore.

In FY25, upGrad lowered its web loss by greater than 50% to Rs 273.7 crore, whereas working income rose 6% year-on-year to Rs 1,569.3 crore.