Cars24 appoints Infosys CFO Jayesh Sanghrajka as independent director

The announcement was made on Monday by Cars24 Co-founder and CFO Ruchit Agarwal, who said it is an important move for the company’s future expansion.

Sanghrajka has more than 10 years of experience in public markets and corporate finance. At Infosys, he works on areas like finance, mergers and acquisitions, and investor relations, and has played an important role in managing the company’s operations as a dual-listed firm in India and the US.

According to Cars24 co-founder and CFO Ruchit Agarwal, Sanghrajka has already been connected with the company for several years. He has been part of its audit committee and has also led several meetings.

"Cars24 is not a transaction business. We are building the rails for how people buy, sell, finance, and own their cars across India, UAE, and Australia. We are creating a category. To do that at scale, across multiple markets, while heading towards a public listing, you need people in the room who have been through that before," Agarwal said in a LinkedIn post.

The appointment comes as Cars24 is expanding its business beyond just buying and selling used cars. The company is now also moving into services like car financing, vehicle ownership support, and other automotive-related services in markets such as India, the UAE, and Australia.

Jayesh Sanghrajka began his career at Infosys in 2004 as an analyst after becoming a chartered accountant. This was his entry point into the company and the corporate world.

Over the years, he has taken on several senior leadership roles at Infosys, and later rose to become the Chief Financial Officer (CFO).

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