Upcoming IPO: Chartered Speed Files Draft Papers To Raise Rs 855 Crore Via For IPO

Chartered Speed Ltd. on Thursday filed its preliminary papers with the capital markets regulator SEBI to raise funds via an initial public offering. The public offer will include mix of fresh issues of shares worth Rs 665 crore and an offer-for-sale up to Rs 200 crore by promoter selling shareholders.

The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd.

Pankaj Gandhi and Alka Pankaj Gandhi are the promoters of the company offloading shares in the offer for sale.

Motilal Oswal Investment Advisors Ltd. and SBI Capital Markets Ltd. are the book-running lead managers for the issue and MUFG Intime India Private Ltd. will be the registrar of the issue.

The company plans to use the money raised from the new issue for several key purposes. A significant portion of the funds will be used to purchase electric buses, which will help expand its fleet and meet capital expenditure needs. Additionally, the company intends to pre-pay or re-pay a portion of its existing borrowings, helping to strengthen its financial position. The remaining proceeds will be allocated for general corporate purposes, providing flexibility to support day-to-day operations and future strategic initiatives.

The passenger mobility company han an operational bus fleet of over 2,000 vehicles and they primarily operate a self-owned fleet. They have over 15 years of experience in the mobility sector and the company's network spans 500 cities

The firm's revenue from operations grew at a compounded annual growth rate of 41.70 % from Rs 332 crore in Fiscal 2023 to Rs 666.7 crore in Fiscal 2025.

As of June 30, 2025, they operate more than 650 dedicated pick-up and drop points and 65 branch offices (including booking offices) across India, supported by a team of over 4,000 employees including 2,480 drivers.