Aakash CFO Vipan Joshi Quits After 9-Year Stint Amid Capital Raising Plans

Vipan Joshi, the chief financial officer (CFO) of Aakash Educational Services Limited (AESL), has resigned from his position after working at the test-prep company for nine years.

“After 9+ years at Aakash Institute, I’m taking a moment to reflect as I turn the page to a new chapter in my career… As I move forward to explore new horizons, I carry with me everything I’ve learned and the wonderful relationships I’ve built here,” said Joshi in a post on LinkedIn. 

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Vipan Joshi, a qualified chartered accountant, previously held key roles at Vulcan Express (a Snapdeal subsidiary) and Grofers (now Blinkit). He joined Aakash in 2016 and became the CFO in 2022.

His resignation comes during a major leadership reshuffle at Aakash. Just three months ago, in August, managing director and CEO Deepak Mehrotra resigned after a year in the role. He was replaced by Chandra Sekhar Garisa Reddy, who was earlier the MD of Manipal Group’s family office, Claypond Capital.

Manipal Group is reported to hold about 58% ownership in Aakash.

Aakash chairman Shailesh Vishnubhai Haribhakti had earlier said that increasing the company’s authorised share capital and moving ahead with the rights issue are essential to keep operations running. However, BYJU’S’ insolvency resolution professional (IRP) has opposed the plan, as it would reduce BYJU’S’ stake in Aakash from 25.75% to 6.1%.

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