Chartered Speed IPO Analyzed
Chartered Speed, a company that moves people around India using buses, is planning to become a public company through something called an Initial Public Offering (IPO). This means they want to sell shares to the public for the first time. They’re hoping to raise ₹855 crore (that’s a lot of money!) to help grow their business.
Key Points
- Chartered Speed is seeking ₹855 crore through its IPO.
- The money will fund electric buses and pay off debts.
- Most shares will go to big investors (QIBs) – 75%.
- Retail investors (normal people) can buy a small amount – 10%.
- The company operates buses in six states, primarily Gujarat, Odisha, and Madhya Pradesh.
- Revenue and profits have grown significantly in the last year.
About Chartered Speed
Chartered Speed operates in India, providing bus services for both short and long distances. As of June 30, 2025, they have a large fleet of over 2,000 buses. They focus on traveling between cities (inter-city) and within cities (intra-city).
Their way of making money comes from two main sources: they get regular payments (annuity) and sell tickets to passengers. They currently operate in Gujarat, Odisha, Madhya Pradesh, Rajasthan, and Assam for inter-city routes, and Gujarat and Madhya Pradesh for intra-city routes.
IPO Details
The IPO has a few parts. ₹655 crore will be a new share offering, and ₹200 crore will be from selling existing shares that the founders (Pankaj Gandhi and Alka Pankaj Gandhi) want to get rid of.
They want to use the money smartly: ₹98 crore to buy more electric buses, ₹396.4 crore to pay off some of their debts, and the rest for general company expenses. MUFG Intime India is helping manage the sale as the registrar, alongside Motilal Oswal Investment Advisors and SBI Capital Markets.
Financial Performance
In the last year (FY25), Chartered Speed’s sales increased by 92% to ₹666.7 crore. They made a profit of ₹70 crore, which is a big change from a loss of ₹5.5 crore the previous year (FY24).
Their ‘Ebitda’ – which is like a measure of how profitable the business is – increased to ₹210.80 crore, compared to ₹49.92 crore the year before. And their profit margins got much better, rising to 31.62%!
A successful IPO will provide Chartered Speed with the capital it needs to expand and become a major player in India’s transportation market.
