How We Work



We leverage our deep domain expertise in electric mobility and climate-tech sectors and global investor network to secure the capital raising requirements of our clients. We typically work with companies raising growth capital of $5M and above for Series A, B and later stages, as well as execute M&A strategies. We take a long-term perspective working with clients through multiple financing stages and requirements.

Mergers & Acquisitions

We provide buy-side and sell-side M&A advisory services to our clients to serve their strategic priorities. As the architects of India’s first Electric two-wheeler M&A deal, we continue to be pioneers in EV and sustainability sectors. We combine our expertise in handling cross-border transactions and thought leadership to deliver precise outcomes for our clients.

For Entrepreneurs

We maintain long standing relationships with global investors, private equity firms, corporates, and partners. We often bring first-time strategic investors to India and to our clients as we believe the global transition to clean energy and sustainability requires not just financial but strategic support.
We work closely with founders to assess their strengths and identify opportunity areas for their business. Our in-depth and data-driven market analysis and thought leadership equip entrepreneurs with the best foundation for achieving growth. We provide critical inputs on industry trends and market dynamics and provide comprehensive support with financial analysis to help entrepreneurs maximize the value of their business.

For Investors

Our Investors trust us to deliver high quality opportunities that suit their requirements and thesis. We deeply network with and curate the ecosystem to identify pioneers who can deliver significant investment value. Our stellar track record speaks for itself.
We are approached regularly by domestic and global funds, VCs, PEs, Corporates and even global OEMs to explore investment opportunities in the Indian EV ecosystem. In fact, we have conducted over 30 AMA sessions for global and Indian investors in just the last 2 years. Our monthly Ostara Research newsletters, where we share insights on various aspects of the EV ecosystem and Climate-tech, were sparked by investor requests a few years ago. We are often invited to weigh in on policy recommendations to design and shape India’s Energy Transition.

Mukund Ranganathan


Marquee deals

Mukund Ranganathan


Mukund is a seasoned investment banker with 27 years of experience in advising companies on M&A and capital raising transactions. He has served most recently as Joint Managing Director at Motilal Oswal Investment Banking, where he worked from June 2014 to January 2021. During his career, he has facilitated over 70 strategic financial transactions including Motherson Sumi’s acquisition of PKC Group (Finland), sale of Aurangabad Electricals to Mahindra CIE, Siemens’ sale of Bangalore Airport, sale of Spicejet, Aegis’ acquisition of PeopleSupport (USA), sale of Air Deccan among others. Mukund has extensive experience in raising private equity funding as well as in the capital markets including IPOs, follow-on offerings, GDRs and ADRs for L&T Finance, Indostar, Dixon Technologies, Bharat Financial Inclusion, Tata Consultancy Services (TCS), Wipro, GAIL, etc.

Mukund has earlier worked for 9 years at Edelweiss Financial Services and started his career in 1996 with a 9-year stint at Morgan Stanley. Mr. Ranganathan holds a B.Tech degree in Electrical Engineering from Indian Institute of Technology Madras (1994) and a PGDM from Indian Institute of Management, Ahmedabad (1996).

Vasudha Madhavan

Marquee deals

Vasudha Madhavan

Founder & CEO

Vasudha is the founder of Ostara Advisors (formerly Dhruva Advisors) and is one of the first investment bankers in India to specialise in Electric Mobility, having advised clients in this space since 2017. She made her all-India M&A League Table debut in the top 20 in October 2018.

In 2023, Vasudha was felicitated by India Energy Storage Alliance (IESA) as one of the “Women leaders driving energy sector in India” 

Vasudha has over 21 years of experience in Corporate & Investment Banking; with leading organizations like Citibank and ICICI Bank, as well as in boutique investment banking, based in Mumbai and Bangalore. Vasudha is responsible for having set up and expanded the ‘Private Equity & Hedge Fund’ coverage vertical for Citibank, India. She has also been part of Citibank’s Risk Management team for mid-size corporates, managing the bank’s lending decisions to a portfolio of companies in ITES, auto components, facilities management services, logistics, diversified manufacturing etc.

Vasudha is also a mentor at Aspire for Her, a unique organisation that enables women to join and stay in the workforce, through campus engagement, mentorships and skilling workshops. Their vision is to impact 1 million+ women and add $5B to India’s GDP through increased participation of women in the workforce by 2025.

Vasudha earned her MBA in Finance from XLRI, Jamshedpur, India and her Bachelor’s degree in Commerce from Mount Carmel College, Bangalore, India. She is also a certified Advanced Scuba Diver and enjoys photography, having held several solo and group exhibitions of her work.

R. 'Shanx' Ravisankar

Industry Expert – Financial Technology and Cloud Solutions

Shanx is a founding member and former CEO of Oracle Financial Services Software, (formerly known as i-flex Solutions, the company was acquired by Oracle in 2006). Shanx retired in 2011 as the Chief Operating Officer, Oracle Financial Services Global Business Unit (FSGBU). As a technology leader, he has also been profiled in leading trade and industry publications. In 2008, Shanx was selected as one of the 50 Outstanding Asian American business leaders. This accolade celebrates Asian business leaders and recognizes their pivotal roles in Corporate America. Shanx is an engineering graduate from the Indian Institute of Technology, Chennai, and has an MBA in Management from the Indian Institute of Management, Ahmedabad, India.
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