Overview
- The issue combines a fresh sale of about Rs 655–665 crore with an offer-for-sale of up to Rs 200 crore by promoters Pankaj Gandhi and Alka Pankaj Gandhi.
- The company plans to allocate roughly Rs 98 crore to purchase electric buses and about Rs 396.4 crore to pre-pay or repay borrowings, with the balance for general corporate purposes.
- The IPO will follow a book-building process with caps of up to 75% for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail, and a pre-IPO placement of up to Rs 131 crore is under consideration.
- Chartered Speed has an order for 945 electric buses slated for delivery by Fiscal 2027 through its CSL Mobility subsidiaries.
- The operator runs over 2,000 vehicles across 500 cities and reported revenue of Rs 666.7 crore and profit after tax of Rs 70 crore in Fiscal 2025, up from Fiscal 2023.