MAM
Reshamandi appoints Ritesh Kumar as CFO
Mumbai: ReshaMandi, a homegrown digital ecosystem for natural fibre supply chain has appointed Ritesh Kumar Talreja as chief financial officer.
In his new role, Ritesh will lead the company’s finance function where he will manage corporate development from a debt raising and M&A standpoint, said the statement.
Ritesh has a rich experience of over 14 years in advising businesses on matters pertaining to fundraising, mergers and acquisition, structuring private equity investments and other corporate transactional matters in public and private space.
Previously, he was leading the IndusLaw’s Tax practice group as executive director. Before that, he spent 10 years at EY India, including advising clients in the areas of corporate governance, risk management and business performance improvement during this stint.
“We are thrilled to have Ritesh on board. His extensive experience in corporate law and financial control will enable us to chart a solid growth path. I am confident that his expertise will help our company grow by huge leaps,” commented ReshaMandi founder and CEO Mayank Tiwari. “He complements our strong performance-oriented culture, and we believe his impressive track record of execution and achieving results qualifies him to lead our finance operations.”
Being a chartered accountant, Ritesh is also a part of the Advocacy Committee with the Indian Association of Alternate Investment Funds. Over the years, he has also advised companies on international taxation matters, direct tax issues related to structuring cross-border transactions and identifying tax planning opportunities with an overall objective to achieve a tax-efficient structure in India.
He has robust experience in handling direct tax litigation matters across Indian appellate tribunals (including being an advisor to clients in devising tax litigation strategy) and tax policy representations before the Central Board of Direct Taxes (CBDT), the apex direct tax administration body of India.
Speaking about his appointment, Ritesh said, “Unlike a conventional CFO, a new-age finance leader has multiple roles, especially in a start-up ecosystem which is extremely dynamic. I will be working closely with the founders on significant areas like establishing an effective financial infrastructure, ensuring compliance, leading fundraising conversations, financial planning and analysis, and cash flow tracking.”
MUMBAI: Mar-tech network Wondrlab Network is in talks to acquire advertising major Madison World, according to media reports, in a move that could reshape India’s agency landscape.
In a statement shared with Social Samosa, Wondrlab Network founder and CEO Saurabh Varma, confirmed that the group is actively evaluating acquisition opportunities but declined to confirm any specific transaction.
“We have consistently stated that Wondrlab is building for scale, and acquisitions remain an important part of that strategy. We are in discussions with multiple companies across capabilities that strengthen our platform-first, full-funnel marketing and technology offering. Any development will be communicated at the appropriate time,” Varma said.
Wondrlab has pursued acquisitions as part of an ambitious plan to buy 26 agencies across three phases. In 2025, it completed its seventh acquisition, underscoring its appetite for inorganic growth.
According to reports, Madison founder Sam Balsara is seeking around Rs 1,000 crore for the agency. If the Wondrlab deal goes through, it would rank as the largest acquisition of an Indian agency by another Indian agency.
Wondrlab was launched in November 2020 by Saurabh Varma, Vandana Varma, and Rakesh Hinduja. Its first acquisition followed swiftly with the December 2020 purchase of Amit Akali’s creative shop, What’s Your Problem.
Since then, the group has steadily expanded its footprint. It acquired influencer marketing firm Opportune and performance marketing agency Neon in 2022. In 2023, it bought Salesforce consultancy and data analytics firm Cymetrix, alongside Poland-based WebTalk, marking its entry into Europe. It later added influencer marketing agency OPA and, last year, took a majority stake in BigStep Technologies, a generative AI and cloud-native software firm.
Madison, meanwhile, has long been a target for global advertising groups. Over the years, it has drawn interest from WPP, Publicis Groupe and Dentsu. In May 2025, Havas was reported to be the frontrunner, with an offer of about Rs 700 crore for a majority stake.
Earlier talks with WPP in 2015, when Madison was valued at roughly Rs 500 crore, collapsed over valuation and equity differences. Discussions with Publicis and Dentsu also failed to yield a deal.
